LPN’s Land Purchasing to Start ฿3.2bln Condominium Project
LPN spends 821 million baht to purchase a land on Ratchada - Narathiwas Road to construct a condominium worth 3.2 billion baht, and will recognize the revenue in 2020.
L.P.N. Development Public Company Limited (LPN) has made an announcement of 2,737.20 sq.m. land purchasing to develop project for sale on Ratchada – Narathiwas Road.
The total cost for the land purchasing is 821 million baht, and LPN expects to gain benefits from this purchase as follow:
- This plot of land will be developed into a condominium which consisting of 1 building with 30 storeys approximately.
- There are approximately 400 units for residential and commercial.
- Total project value is approximately 3,200 million baht.
- Total development and sell period are approximately 17 months and will be launched in the 4Q18.
- Transfer the right of ownership and revenue will be recognized in the year 2020.
- Gross profit margin is approximately 30%