Frasers Centrepoint gets green light to inject $195m in Thailand’s Golden Land

The agreement opens the floodgates for overseas income.

The property hopes to get its business rolling in Thailand’s real estate sector as it got the go signal for its proposed acquisition of 29.5% of Golden Land’s enlarge shared capital through a THB4971m capital injection.

According to a statement by Fraser Centrepoint, the agreement provides a strategic platform for the company to capture opportunities in Thailand as well as further grow overseas income.

“Gold, listed on the Stock Exchange of Thailand, is one of Thailand’s leading real estate developers engaged in residential and commercial property development, as well as property management and property advisory services,” the statement said.

The statement said Gold offers a strategic fit for FCL, ith both having a shared philosophy of growing recurring income, as well as capturing the broad-based residential market in the mid-income segment.

“Gold focuses mainly on single- and semi-detached housing and townhouse residential projects in metropolitan Bangkok under its flagship “Golden” brand2 , as well as mixed-used commercial and hospitality projects primarily located in the central business district of Bangkok,” the statement said.