Chewathai plans low-rise project with LL, eyes listing in 2012
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Chewathai plans low-rise project with LLthe property developer Chewathai Co Ltd plans a joint venture with the listed developer Living Land Capital Plc to build a low-rise residential project in Ramkhamhaeng.
Chewathai will spend three months to study the feasibility of the project on Sukhaphiban 3 Road before finalising the deal with LL and setting up a joint-venture firm in May 2010, said chairman Chartchai Panichewa.
The company yesterday signed a memorandum of understanding with LL for a joint-venture development on a 19-rai site after two months of talks.
Chewathai is now studying whether to develop single houses, duplexes or townhouses.
``LL has many years of experience in housing development in the Ramkhamhaeng area,'' he said. ``We have the expertise in construction so it will be a good joint venture. The two firms will hold 50% equally.''
Chewathai will invest capital while LL will invest the land plot, which has a value of 200 million baht. But LL needs to redeem the plot from a financial insti tution as its is currently being used as collateral with the bank.
