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MUANG THAI
REAL ESTATE PUBLIC COMPANY LIMITED. was established in 1998 with a registered
capital of Baht 1 million. At that time, the principle business purpose of MUANG
THAI REAL ESTATE was to develop office buildings, residential condominium, and
serviced apartments, as well as to offer properties management services.
In
2004, MUANG THAI REAL ESTATE now with a registered capital of Baht 4.830 billion
and with Kasikorn Bank as a major shareholder, mainly focusses in the property
management of office buildings, residential condominiums and serviced apartments
in Bangkok, and in the development of high standard hotels and housing projects
in Chiang Mai and Mae Hong Son, both in northern Thailand. Development Chronology
| 1988 | MUANG THAI REAL ESTATE
was established with registered capital of Baht 1 million. |
| 1989 | MUANG THAI REAL ESTATE launches its first
serviced apartment project on Ploenchit Road in Bangkok, "LANG SUAN BALCONY"
with an investment of Baht 80 million.
MUANG THAI REAL ESTATE established
wholly owned subsidiary, Phatra Complex Co., Ltd. with its business purpose of
providing services for Building Management. | | 1990 | MUANG
THAI REAL ESTATE launches "MUANG THAI PHATRA COMPLEX" , twin 35-story
office buildings, on Ratchadapisek Road, Bangkok, with an investment of Baht 4
billion. The in additional to commercial office space, the complex includes a
shopping plaza, fitness centre, and one residential condominium. |
| 1990 | MUANG THAI REAL ESTATE became
a professional real estate consultant in high rise residential condominium with
the "BAAN HAAD U-THONG" project in HUA HIN. |
| 1992 | MUANG THAI REAL ESTATE increases its
registered capital to Baht 125 million with the Lamam family as a major shareholder. |
| 1993 | MUANG THAI REAL
ESTATE joins other partners to develop a high rise residential condominium on
Ratchadamri Road, Bangkok, "BAAN SOMTAVIL", with an investment of Baht
600 million. | | 1994 | MUANG
THAI REAL ESTATE increases its registered capital to Baht 800 million (Baht 640
million in paid-up capital) and registers as a limited public company. |
| 1994 | MUANG
THAI REAL ESTATE invests in "NEW HOUSE SERVICED APARTMENTS" on Ploenchit
Road, Bangkok, for long term rental revenue. | | 1996 |
MUANG THAI REAL ESTATE acts a professional consultant to "BAAN YUPPAYONG"
residential condominium project on Ramkamhaeng Road, Bangkok.
In the
same year MUANG THAI REAL ESTATE invested in high rise residential project in
Pattaya called Baan Haad U-Thong condominium. |
| 1996 | MUANG THAI REAL ESTATE increases
its registered capital to Baht 960 million. | | 1997-2001 | MUANG
THAI REAL ESTATE launches a well known hotel, "BELLE VILLA RESORT & BAAN
MON MUAN JAI 1", in Chiangmai, northern Thailand. |
| 1997-2001 | MUANG THAI REAL ESTATE launches
the "BAAN RUANG KHAO" residential condominium project on Rajburana Road,
Bangkok. | | 1997-2001 | As
Thailand faces its financial and currency crisis, Phatra is one of the few real
estate companies having completed its debt restructuring process, with its new
registered capital increased to Baht 4.830 billion and Kasikorn Bank becoming
a major shareholder. | | 2002-2003 | MUANG
THAI REAL ESTATE launches its second luxury resort "BELLE VILLA PAI"
in Mae Hong Son, northern Thailand. | | 2003 |
A new housing project, "BAAN MON MUAN JAI 2", is being launched in late
2003. Using the concept "your home in the valley", the project is being
developed in Chiangmai, northern Thailand. |
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