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Thai Development Group Takes Shortcut to Housing Market.
Byline: Sukanya Jitpleecheep
Sep. 3--MBK Development Plc is expanding its portfolio into the residential property business, branching out from the shopping centre and hotels it now runs.
The company will spend 450 million baht to buy the developer of a medium-sized housing project in the the fourth quarter of this year.
MBK declined to name the company but managing director Suvait Theeravachirakul said the housing firm was still selling its residential project. It had cash flow of 5-6 million baht and earned a profit of one million baht per month.
Mr Suvait said the takeover would include the firm and its three subsidiaries, along with ...
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Source: HighBeam Research, Thai Development Group Takes Shortcut to Housing Market.