Firm sells part of Asiad site

Firm sells part of Asiad site

BANGKOK (AFP): Giant Thai developer Bangkok Land has sold a third multi-million-dollar site at the Maung Thong Thani complex in the capital, currently being used for the Asian Games, a statement said.

A sale of assets worth 930 million baht (US$25.8 million) was signed last week with the Land Development Fund run by Jupiter Managed Fund, CB Richard Ellis, Jupiter's property consultant said in a statement.

Bangkok Land chief K. Anant Kanjanapas said plans were under discussion with international investors to build a 1,000-room hotel on the Maung Thong Thani site north of Bangkok.

Total proceeds from the three sales at Muang Thong Thani amount to about 2.5 billion baht ($67 million).