Santiburi The Residences will cost 200-300 million baht per unit.
SET-listed skill organisation Singha Estate Plc (S) will spend 55 billion baht to acquire and rise hotels, bureau buildings and residential projects in Thailand and abroad over a subsequent several years, aiming to beget during slightest 20 billion in income by 2020.
Chief financial officer Methee Vinichbutr pronounced half of a investment bill will go to a developer’s hotel business, including acquisitions of existent hotels in Southeast Asia.
The association is looking during hotels in Bali, Myanmar, Vietnam and Thailand.
“We aim to have hotels value over 20 billion baht in a portfolio underneath a subsidiary, S Hotels Resorts Co, before rising an IPO for that auxiliary by 2020.”
The investment bill for hotels will also embody building resorts in a Maldives. At slightest 11 billion baht will be spent by year-end to rise a initial proviso of a Emboodhoo Lagoon project, encompassing 3 out of 9 islands.
Singha has invested 10 billion baht in dual hotels in Thailand and 29 hotels in Britain. The Thai hotels, that a association unconditionally owns, embody a 77-room Santiburi Beach Resort Spa on a 57-rai tract on Mae Nam Beach, Samui. That review had a 76.5% occupancy rate in a initial half.
The other is Phi Phi Island Village Beach Resort on a 167-rai site on Koh Phi Phi, for that Singha has increasing a series of bedrooms to 201 from 156 final year. The occupancy rate for that review was 82.5% in a initial half.
The British hotels, meanwhile, are operated around a 50:50 corner try with a Thai partner, Fico Group.
Around 20% of Singha’s three-year, 55-billion-baht investment devise will be for bureau buildings. Currently, it is in talks with a landlord to franchise a tract in Bangkok to rise a new bureau building with an investment of 4 billion baht, Mr Methee said.
The association expects to have during slightest 3 bureau towers with a total lettable area of some-more than 200,000 block metres by 2020, that it will afterwards sell to a genuine estate investment trust in a entrance years.
It has an bureau tower, Suntowers Complex, in Chatuchak district with a lettable area of 61,381 sq m and an occupancy rate of 93%. It is building 56,600 sq m of bureau space during Singha Complex, a mixed-use growth on Asok Road.
Boon Rawd Brewery Co, Singha’s vital shareholder, will franchise 10,000 sq m during a Singha Complex subsequent year. Boon Rawd will compensate 1.9 billion baht for a 50-year franchise agreement to Singha by a fourth quarter.
“With a let income gained, we will secure during slightest 4 billion baht in income this year, adult from 3.6 billion final year,” pronounced Mr Methee. “A good volume of income will come in from 2019 onwards.”
In November, Singha will launch dual super-luxury residential projects value over 11 billion baht: The Esse Sukhumvit 36, a joint-venture condo with Hong Kong Land Ltd value 6.17 billion baht; and Santiburi The Residences, value 4.93 billion baht.
S shares sealed yesterday on a Stock Exchange of Thailand during 4.12 baht, adult 8 satang, in trade value 79.7 million baht.