Thai Golden Land, Morgan Stanley
\nestablish US$85 million venture<\/p>\n
Thailand's Golden Land Property Development and the Morgan
\nStanley Real Estate Fund on Thursday announced a joint venture to
\ndevelop a residential project in Bangkok.<\/p>\n
The 3.6 billion baht (US$85.71 million) project is a sign that
\nthe country's growing property market is attracting international
\ninterest.<\/p>\n
Morgan Stanley Real Estate Fund, the property arm of U.S.
\ninvestment bank Morgan Stanley, will hold a 65 percent stake in
\nthe project and Golden Land the remainder, said Liakat Dhanji,
\nGolden Land's chief executive.<\/p>\n
The project will involve the development of a 54,300-square-
\nmeter (584,000 square-foot) luxury residential complex in
\nBangkok's central business district, expected to be completed at
\nthe end of 2004.<\/p>\n
The deal is Morgan Stanley's first direct property investment
\nin Thailand.<\/p>\n
\"We believe that these types of projects will herald a new era
\nof growth and development for the Thai property market and for
\nthe country's economy,\" K.S. Kalsi, head of Morgan Stanley Real
\nEstate Fund Asia, said.<\/p>\n
He said his fund has around $15 billion available for
\ninvestment in global real estate projects. He declined to provide
\ninformation regarding the fund's future investments. Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/thai-golden-land-morgan-stanley-1447899208",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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