Thai tycoon's $5 bil Bangkok development may lead to REIT

BANGKOK (Aug 28): Parts of Thai tycoon Charoen Sirivadhanabhakdi’s 120 billion-baht ($5 billion) downtown Bangkok real estate project could be sold into a real estate investment trust, the head of the development said.

While Charoen’s TCC Group views the One Bangkok project as a long-term asset, a REIT is an option for efficient capital management, though nothing has been decided yet, the development’s Chief Executive Officer Soon Su Lin said.

"It could be an option that we look at once the project is stabilised," Soon said in an interview Monday in the Thai capital.

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