Raimon Land Public Company Limited (RML) has announced that its Board of Directors resolved to propose to the shareholders in the 2019 Annual General Meeting of Shareholders to consider and approve the investment in the “ONE CITY CENTRE” Project, a commercial building development project (OCC Project), on the leased land that RML had a long-term 30-year lease of a plot of land in the vicinity of Ploenchit Road. The total investment in this project is THB 9,096 million.
The source of funding for the Investment in the OCC Project will be from the working capital of RML and/or credit facilities to be granted by financial institutions and/or issuance of debt instruments and/or seeking business partners, whereby RML will consider the terms and conditions in relation to borrowing from financial institutions and/or issuance of debt instruments and/or seeking business partners. RML asserts that the company is in the process of negotiation with foreign investors who have expertise in the real estate development business for commercial buildings.
The Investment in the OCC Project is the beginning of RML’s strategy for revenue growth by business diversification, which will also enhance its competitive edge and increase its business opportunities.