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New Venture to Revive Condominium Site in Thailand.
Byline: Krissana Parnsoonthorn
Dec. 7--A consortium led by Univentures Plc yesterday signed a deal to inject 320 million baht in equity to revive the Watercliff Condominium project, where construction had been suspended since the economic crash in 1997.
A new joint venture called Grand Unity has been formed, with 50 million baht in registered capital held by four partners, three of them listed property companies.
Univentures Plc is the lead investor, holding hold 40.62 percent, with LPN Development holding 25 percent , Sansiri Plc 3.12 percent and non-listed Yaowawong Co 31.25 percent.
Ornruedi Jearaditharporn, managing director of Univentures, said that another 270 million baht in equity would be committed by the four shareholders to Grand Unity in the form of business credits.
Ultimately, Univentures and its subsidiary would pour a total of 130 million baht in equity into the new venture, Yaowawong 100 million, LPN 80 million and Sansiri 10 million baht.
Grand Unity will also borrow 240 million from Bangkok Metropolitan Bank to finance the project.
- UV lifts stake in Grand Unity.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) October 2, 2007 700+ words
...lucrative opportunity for Grand Unity in managing distressed...good business through Grand Unity's expert management...Established in 2003, Grand Unity took on seven troubled...products. They included Watercliff Condominium and Grand Parkview...
- LPN to spend B2bn on six new condos.
- News wire article from: Asia Africa Intelligence Wire January 21, 2003 700+ words
...additional development through Grand Unity Co, a joint venture with...Univentures Plc and Sansiri Plc. Grand Unity took over the abandoned Watercliff Condominium near Central Rama III from creditors in 2001. Grand Unity began selling 28 four...
- Thai Development Firm to Spend 2 Billion Baht on Six New Condos.
- Newspaper article from: Knight Ridder/Tribune Business News January 21, 2003 700+ words
...additional development through Grand Unity Co, a joint venture with...Univentures Plc and Sansiri Plc. Grand Unity took over the abandoned Watercliff Condominium near Central Rama III from creditors in 2001. Grand Unity began selling 28 four...
- New Venture to Revive Condominium Site in Thailand.
- Newspaper article from: Knight Ridder/Tribune Business News December 7, 2001 700+ words
...revive the Watercliff Condominium project...venture called Grand Unity has been formed...million baht. Grand Unity will also...redevelop the Watercliff Condominium project because...Ornruedi. Grand Unity bought the...
- Thailand: Thai property developer Grand Unity cancels plan to list on SET.
- News wire article from: Thai Press Reports March 22, 2006 700+ words
...Reports) Section: Corporate News - Grand Unity will not apply to list on the Stock...Development said that the shareholders of Grand Unity, in which LPN holds 33 per cent, had decided not to have Grand Unity apply to list on the stock market...
- Grand Unity Development buys the JB Place building.
- News wire article from: Asia Africa Intelligence Wire April 23, 2004 700+ words
...Bangkok - April 23, 2004 - Grand Unity Development has taken over the...JB Place condominium project. Grand Unity Development bought the unfinished...is about 75 per cent complete. Grand Unity Development will develop the building...
- Grand Unity to buy problem projects.
- Newspaper article from: The Nation (Thailand) February 18, 2009 700+ words
Byline: The Nation. Grand Unity Development plans to take over residential...Sirithanachai said yesterday. He said Grand Unity had earmarked Bt1.5 billion to...company's cash flow. Thanapol said Grand Unity would launch two or three new condominium...
- Thailand: Grand Unity looks to take over property development projects in...
- News wire article from: Thai Press Reports February 18, 2009 700+ words
Section: Business News - Grand Unity Development plans to take over...Sirithanachai said on February 17. He said Grand Unity had earmarked Bt1.5 billion to...company's cash flow. Thanapol said Grand Unity would launch two or three new condominium...
- Grand Unity postpones its IPO.
- News wire article from: Asia Africa Intelligence Wire May 26, 2004 700+ words
...fnWEB - Bangkok - May 26, 2004 - Grand Unity Development has decided to postpone its IPO. Grand Unity Development has decided not to list...was already 75 per cent completed when Grand Unity took it over. Grand Unity is planning...
- Bt3-billion investment plan: Grand Unity eyes 4 sites, NATION.
- News wire article from: Worldsources Online April 22, 2004 700+ words
...Projects have been stalled since '97 Grand Unity Development Co plans to invest at least...In view of its business expansion, Grand Unity will apply for a listing on the Stock...shares in an initial public offering. Grand Unity has a policy of maintaining its debt...
