BAM is holding an Auction “Quality Assets in Prime Areas” with the total value of 1.98 billion baht

            BAM is proactively pushing up the sales volume throughout the year. To achieve that target BAM is holding the first auction of the year 2014 “Quality assets in Prime areas”. There will be 25 assets on the auction list this time worth 1.98 billion baht. The auction will be held at BAM’s headquarters on 25 March. In the 3 auctions from 2013, investors and interested customers have spent 1.66 billion baht which exceeded the target. 

            BAM Senior Executive Vice President Mr. Somporn Moonsrikaew said that this year BAM still uses proactive policies to stimulate the sales volume continually. In 2014, BAM plans to hold 2 auctions. The first one will be on 25 March 2014. In 2013, BAM held 3 auctions on 29 March 2013, 27 June 2013 and 12 November 2013. They received very good response from the investors. BAM sold 10 assets in those auctions worth 1.66 billion baht in total.

            For the first auction of this year, BAM has selected quality assets in prime areas from all over the country. There will be 25 properties on this auction list worth 1.98 billion baht. The assets putting out for auction includes 19 land type assets (vacant land, land with buildings and land for development). The total starting price is 1.44 billion baht. There is a seminar center with land. The starting price is 260 million baht. There is a hotel with the starting price of 170 million baht. There are 3 office buildings with the total starting price of 73.02 million baht. Lastly, there is one apartment with the starting price of 45 million baht.

            The prominent assets in this auction include seminar center with land in Deval Resort and Sport Club with the land size of 225-3-75.9 rai. It is on Rangsit-Nakhon Nayok road Amphoe Ban Na, Nakhon Nayok. The starting price is 260,000,000 baht. There is also a hotel with the land size of 1-2-25 rai in Soi Ladphrao 112 Bang Kapi, Bangkok with 170,000,000 baht staring price. Vacant land with the land size of 118-0-81 rai is on Bangna-Trad road Amphoe Bang Pakong, Chachoengsao. The starting price is 425,000,000 baht.
 
            The office building in Soi On Nut 62 Suan Luang, Bangkok is 73.2 square wa with the starting price of 17,600,000 baht. The office building in Soi Ramkhamhaeng 81/1 Bang Kapi, Bangkok is 54 square wa. The starting price is 13,200,0000 baht. Land with buildings in Amphoe Ban Khai, Rayong has the area of 24-2-13.1 rai. The starting price is 53,000,000 baht.

            In addition, there is another land with building in Lamphun with the area of 8-3-26.7 rai with 39,000,000 baht starting price. Land for development on Thong Pha Phum -Vajiralongkorn Dam road, Amphoe Thong Pha Phum, Kanchanaburi is 159-2-51.2 rai. The starting price is 65,000,000 baht. Vacant land in Amphoe Phen, Udon Thani is 61-1-4 rai with the starting price of 42,000,000 baht. Vacant land in Amphoe Kabin Buri, Prachin Buri is 109-3-55 rai. The starting price is 60,000,000 baht. Vacant land in Sam Khok, Pathum Thani is 24-3-60 rai. The starting price is 22,900,000 baht. Vacant land on Bang Khun Thian-Chay Talay road, Bangkok is 64-0-4.8 rai with 75,000,000 baht staring price.

             BAM Senior Executive Vice President Mr. Sak Srisanan expressed his opinion on property market said that in 2014, the market seems to slow down due to the political situation. If the situation is not protracted, the market should be able to recover this year, he said. The positive factors for business growth include lower interest rate that reduces debt burden, and lower income tax that helps people to have more purchasing power, he added.

             Currently, BAM has 11,475 properties for sale worth 36.676 billion baht. Most of the properties that BAM has to offer are vacant lands which account for approximately 50% of the total properties. Other than that, BAM has factories, detached house and condominium units. The revenue from selling properties in February 2014 was 675 million baht. The top seller was vacant lands which 182 of them were sold worth 401.75 million baht. However, in 2013, BAM has sold 2,482 properties in total which made up to 7.701 billion baht. The top seller was vacant land which were sold 1,370 items last year and made 4.410 billion baht.