Photo Release: UOB (Thai) provides THB 880 million loan for The Lofts Ekkamai, the latest project by Raimon Land

Stocks and Financial Services Press Releases Thursday June 27, 2013 12:14
Bangkok--27 Jun--UOB

United Overseas Bank Thailand PCL (UOB Thai) today announced it had signed a THB 880 million loan agreement with real estate developer Raimon Land Ekkamai Co, Ltd to finance the construction of The Lofts Ekkamai.

The Lofts Ekkamai Project is a 28-storey residential condominium targeted at local and foreign home buyers. The new residential condominium is located in Bangkok's burgeoning Ekkamai -Thonglor district and along the city's main sky train line.

Mr. Peter Foo, President and Chief Executive Officer, UOB (Thai) said, "We are delighted to partner Raimon Land Ekkamai Co., Ltd in their latest residential project situated in the heart of the city. Demand for condominiums and apartments in the downtown and midtown areas of Bangkok has risen as a result of the growing affluence and rising lifestyle aspirations of the Thais. In 2012, total occupancy in Bangkok's downtown and midtown areas reached a high of more than 300,000 units."

Raimon Land Ekkamai Co., Ltd. which is wholly owned by Raimon Land PLC, has a market capitalisation of THB 8 billion and is a leading private developer of high end residential properties in Bangkok and Phuket.

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