BAM achieved more than thousand million baht income, then prepare the 3rd auction by the end of this year

          BAM represented its performance from the “Great Assets in Good Location No. 2” bidding activity by achieving more than thousand million baht income. Then BAM prepared to arrange the 3rd auction in October with expectation to boost sales of this year to meet the target. This because the real estate in many locations still grow up, especially in main provinces and tourist attractions, while Bangna area in Bangkok got the benefits from city plan development to be a retail and accommodation source in the future.

          Mr. Krit Sesavej, the President of Bangkok Commercial Asset Management Co.,Ltd. (BAM), said that BAM still kept proactive strategy to continue selling the assets. On June, 27, 2013, BAM had arranged the 2nd auction for 15 items of non-performing assets. There were good responses from 41 attendees and offered 4 items, total bidding value were 1,076,422,000 baht compared to the target of 500 million baht. For comparison, the first auction of 22 items in March 2013 received 321,614,999 baht income, compared to the target of 300 million baht.

          The assets consisted of (1) the land beside the Chao Phraya River, Ta Din Daeng, Klong San which had the area of 7-1-16.3 rai with the bidding value of 470,000,999 baht; (2) The land beside Bangna-Trad KM.21 Road which had the area of 51-3-48 rai (93.12% of the area owned by BAM), Srisajorakae-yai (Saothong) sub-district, Bangplee district, Samutprakarn province with the bidding value of 390,000,000 baht; (3) the land near Mahidol road and close to Chiangmai airport which had the area of 14-1-80.2 rai, Nonghoi sub-district, Muang Chiangmai district, Chiangmai province with the bidding value of 160,001,000 baht; and (4) the vacant land near Sukhumvit road of 23-2-84 rai, Bangphra sub-district, Sriracha district, Chonburi province with the bidding value of 47,420,001 baht.

          However, regarding the action plan and management plan of the second half of 2013, BAM has the policy to promote assets’ sales by arranging the booth continuously both in Bangkok and upcountry. BAM also prepares to arrange the other events and the 3rd auction of great assets in good location in October, together with offering special promotions to customers who plan to buy the assets within this year.

          Mr. Krit also presented his idea that the real estate market still grow up in many locations, especially main provinces and tourist attractions. Regarding Bangkok, the locations around Bangna area are required because of city plan development. Then Bangna became the market of retails and accommodation. In addition, this new city plan has determined this area as major commercial center of East Bangkok.

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