BANGKOK, Sept 19 Thailand's Country Group
Development PCL on Monday said it has secured $375
million in financing through China Ping An Bank Co Ltd
to develop its luxury mixed-use Chao Phraya Estate
project in the Southeast Asian nation.
Country Group joined Beijing Construction Engineering Group
Co Ltd (BCEG) of China to develop the 32 billion baht
($918 million) project which includes a high-end condominium and
two hotels, Country Group director and chief executive Ben
Taechaubol said at a news conference.
Construction started in the third quarter of 2014 and is
scheduled for completion in the fourth quarter of 2018, the
The developer is also looking for opportunities to build
super-luxury condominiums in Bangkok where demand is strong, he
The financing will be managed through Landmark Holding Co
Ltd, a joint venture of Country Group and BCEG Thai
International Co Ltd, the firms said in a joint statement.
BCEG was founded in China in 1953 and is expanding its
global presence, the companies said.
($1 = 34.8500 baht)
(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya
Jittapong; Editing by Christopher Cushing)