Grand U announces fully pays up capital to 600 million baht to prepare for condominium business next year

Grand U announces fully pays up capital to 600 million baht to prepare for condominium business next year, ready to launch 2 new projects worth 3 billion baht in combined value


Grand Unity Development has fully paid up its 600 million baht registered capital to push ahead with condominium projects along the sky train and underground routes. The company also prepares to introduce 2 new projects under the name of “U Delight” situated by the sky train and underground stations at Huay Kwang and Jatujak, after enjoying enormous success from U Delight @ Bang Sue Station.

Thanapol Sirithanachai, President of Grand Unity Development Co., Ltd. (Grand U) disclosed that his company had raised its registered capital to 600 million baht at the end of 2007 with paid up capital of 380 million baht. “The company has now paid up the entire amount of 600 million baht in order to prepare for investment expansion targeting areas along the sky train and underground routes, whose service may require shuttle van to provide convenient transportation to buyers to satisfy them the urban living style. The company also focuses on building the good community relations to enhance good surrounding. Grand U is looking to attract middle income earners with 1.5-2 million baht condominium units. The strategy has been proven by the success of the previous project called U Delight @ Bang Sue Station, which has already been over 90% occupied. Following this concept, Grand U will launch 2 new condominium projects with combined value of over 3 billion baht at the prime locations of Huay Kwang and Jatujak,” he said.

Neramit Srangiam, Managing Director of Grand Unity Development Co., Ltd., said his company had already launched 2 condominium projects under the Condo U concept called U Sabai Condominium Rama IV-Kluaynamthai and U Delight@ Bang Sue Station near the MRT station in Bang Sue. “These projects are considered successful thanks to the unique marketing strategy that uses excellent location and multi-function room and furniture designs to offer outstanding value for money. The team of professional management also helps attract buyers, making us more than confident in getting new projects up and running despite the currently sluggish economy. Consumers continue to fulfill their basic necessities and with condominium at the right location and affordable prices, our projects are sure to the choice for those within the 25-30 years age bracket and 30,000 – 60,000 baht income range,” he explained.

In the fourth quarter of 2009, Grand U is set to introduce 2 new condominium projects namely U Delight@ Huay Kwang Station and U Delight@ Jatujak Station. Both projects are designed and developed under the U Living Concept that focuses on YOU, to enjoy the full functionality. U Delight@ Huay Kwang Station, situated in Soi Pracha-Uthit 5 and only 3 minutes from MRT station in Huay Kwang, is created under the concept of Urban Escape to offer surrounding that is close to nature with up to 70% open space. The project is composed of 3 condominium buildings of up to 20 stories and 1 building of 10 stories housing a total of 597 units on 5-rai land worth 1.2 billion baht. There are 4 types of rooms available for the choosing namely 1 bedroom at 32, 41 and 45 square meters, and 2 bedrooms with 64 square meters with a starting price of 1.39 million baht. It also comes with complete infrastructure including 30-meter infinity-edged swimming pool, fitness club, sauna room for men and women, library, Wi-Fi Internet, laundry service, shuttle service to Huay Kwang MRT station everyday and 24-hour security system using CCTV, keycard and security personnel. The project is managed by a professional team from LPN. As for U Delight @ Jatujak Station, the project is situated in Vibhavadee Soi 3, which is about 3 minutes from Jatujak MRT station and Mor Chit BTS station. There are approximately 900 units on 5-rai land with value of 1.8 billion baht,” he said.

Grand Unity Development Co., Ltd. was established in 2001 by 3 groups of major shareholders namely Univentures PLC, which holds 60%, LPN Development PLC, which has 20% and Yaowawong Holdings Co., Ltd., which holds the remaining 20%. The company focuses its business on developing projects with construction and financial problems and so far has had over 7 projects under management worth over 5.2 billion baht in combined value. These projects include Lumpini Place Water Cliff and Grand Park View Asoke. The company currently has 600 million baht worth paid up registered capital.