Luxury property developer Raimon Land has announced the forthcoming opening of Vue, a boutique fusion mall adjacent to The River, its prestigious development along the Chao Phraya. Located by The River’s main road entrance on Charoen Nakorn Road, Vue will be completed by the end of the year, before The River’s owners and tenants move in to their units during the course of 2012.
Vue will be a welcome addition to Bangkok’s Thonburi district, a fast-growing area which has been undergoing major changes over the past few years and is home to several five-star international hotels. Composed of four levels, Vue will feature a select list of restaurants and specialty retail shops catering primarily to residents of The River and to the neighbourhood’s increasingly affluent community.
A New Business Line with a Promising Outlook
The Vue project also marks the start of a new business line for Raimon Land, as part of its long-term plan to diversify and increase its revenues. Newly-established Raimon Land Investments (RLI) will be in charge of the development and management of new income-generating assets adjacent to Raimon Land’s residential properties. A total investment of Baht 300 million, Vue is expected to generate a profit of Baht 22 million per year, a valuable complement to Raimon Land’s core activities in real estate development.
Mr. Hubert Viriot, Raimon Land Chief Executive Officer, welcomed his company’s newest venture: “This is the first time that we are adding a boutique shopping mall alongside our property development. We foresee two key benefits to this diversification: first, it enables us to offer additional services to our clients; for future residents of The River, nothing can be more convenient than having restaurants and retail shops at their doorstep when they move in to their units.”
“Secondly, we anticipate that income-generating assets such as Vue could contribute 10% to 15% of our revenue within the next few years. RLI will look for similar opportunities to enhance our future projects, as we are convinced it will help us face the cycles of the property development business and consolidate our profile.” (Raimon Land website)