LPN Invests ฿952m to Buy a Land at Muang Thong to Develop into a Residential Estate

LPN Invests ฿952m to Buy a Land at Muang Thong, Expecting a Revenue Recognition in 2020.

L.P.N. Development Public Company Limited (LPN) had made a report of its land purchase to develop project for sale on September 12, 2019, in compliance with the transparency principle in conducting real estate development business.

LPN had purchased a plot of land at Chaeng Watthana Road, Soi 39 (Muang Thong) with a total area of 10,267 Sq.wah at a total value of 952,777,600 baht. LPN expected to develop this plot of land into a house with 190 units for residential. The total project value is approximately 2,700 million baht. The total development and sell period are approximately 17 months and will be launched in the 2 quarter of 2020. The transfer of the right of ownership and revenue will be recognized in the year 2020. THe Gross profit margin is approximately 30%.