Keppel Land in JV to build two luxury condos in Bangkok's CBD

Singapore

KEPPEL Land Limited, the property arm of Keppel Corporation, has entered into a joint venture with Thai property developer KPN LAND Co Ltd to develop two premium condominium projects in Bangkok's CBD.

It said on Thursday that it has, through its wholly-owned subsidiaries, entered into a conditional joint venture agreement with KPN LAND Co Ltd to acquire two prime sites from KPN LAND and other existing landowners for 2.2 billion baht (S$90 million).

Keppel Land's share for the total development cost for both projects is estimated to be 2.8 billion baht given its 49 per cent stake in the condominium projects, with KPN LAND holding the balance 51 per cent stake. The partners w…