Noble Development partners with Fulcrum Global to target overseas market, offers premium after-sales services

Real Estate Press Releases Friday September 28, 2018 17:30
Bangkok--28 Sep--Ogilvy Public Relations

Noble Development announced today a strategic initiative to grow its business in the international property market via a strategic partnership with Fulcrum Global, a market leader in the international real estate space.

Kitti Thanakitamnuay, Chairman of Noble Development Public Company Limited, also announced the appointment of Frank Leung as the Co-CEO, Vice Chairman and Acting President of Noble Development Pcl, effective from 28 September 2018. In addition, Fulcrum Global and its strategic partner N Capital Limited will acquire a 24.9% stake in Noble Development from a third party. With this strategic investment, Fulcrum Global will become a major shareholder and strategic partner of Noble Development.

Kitti commented that, "In addition to developing high quality property projects and offer satisfaction beyond expectation to our customers and investors, we always look for opportunities that arise from new market trends. Foreign investments in the Thailand property market have shown substantial growth. In 2017, this segment grew by 30% from the previous year and is expected to grow by 40% this year. Our high-quality projects in Bangkok's CBD have also received strong reception from foreign customers. Thus, we believe that our partnership with Fulcrum Global and the appointment of a new executive who is a veteran in the international property market is a significant strategic move that will allow Noble Development to grow profitably and sustainably. At the same time, we will be able to create higher return to our shareholders and stakeholders."

In the past 2-3 years, Thailand has proven its potential as an important economic hub in Asia. The country has made significant investment in infrastructure development by connecting its rail, road and air transport networks. Such progress has increased confidence among foreign investors and attracted significant investments to Thailand. This has in turn led to growing interest in Thai property projects.

"Thailand's property projects have very high quality, but prices remain below those in comparable markets, and thus offer higher return on investment. It is clear that investors and foreigners are more interested in projects in the CBD with extensive facilities and easy access, especially those located along sky train routes. Noble understand this well and is in a strong position to deliver property projects that directly address this demand," said Kitti.

The partnership with Fulcrum Global and the appointment of highly experienced executives, especially Frank Leung who will become the Co-CEO, will enable Noble to move faster and further. Initially, Noble will introduce its property projects to international markets, especially China, Hong Kong, Singapore, Taiwan, the Middle East, Europe and the United States.

Fulcrum Global is a world leading investor with investments across multiple cities, including London, Manchester, Tokyo and Bangkok. The company focus its business in identifying long-term investment opportunities, and leveraging its extensive network of distributors to introduce its projects to international investors. The company is relentlessly focused on developing an integrated solution, from customer care, asset management and resales. Since its founding, the company has helped investors achieve returns on investment exceeding 20% per annum.

About Noble Development Public Company Limited

Established in 1991 by a group of visionary businessmen led by Kitti Thanakitamnuay, Noble Development has been very successful throughout the past three decades. The company became a listed company on the Stock Exchange of Thailand in 1997 with ticker symbol "NOBLE". The company develops various residential projects, ranging from undeveloped land plots to single house, townhouse, as well as low-rise and high-rise condominiums. It is committed to offering innovative concept to create living experience that is beyond expectation. All Noble projects reflect Noble's commitment, creativity and the its passion to address modern consumers' changing lifestyle and living experience.

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