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Equal revenue from sales and rentals is goal.

Bangkok Post (Bangkok, Thailand)

| April 06, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Kanana Katharangsiporn

Apr. 6--Golden Land Property Development Plc is seeking a 50:50 balance in its revenue from housing sales and rentals or recurring income within five years as its hotels and serviced apartments in the pipeline are expected to be completed in 2009.

Currently, 70 percent of the company's revenue is from housing sales and 30 percent from recurring income contributed by two serviced apartments, the Mayfair Marriott which is 92 percent occupied and the Ascott Sathorn, with an occupancy rate of 75 percent.

"This year will be an important year for us, as we started developing our land bank in the central business district ...

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Source: HighBeam Research, Equal revenue from sales and rentals is goal.