A recent land sale on Sukhumvit Soi 6, (Bangkok) has set a record at $7,500 per square meter, according to real estate agents, CB Richard Ellis Thailand (CBRE).
The price of the 4,800 square meter site in front of Jaisamarn Full Gospel Church beat the earlier record set by Central Retail Corp for a plot on Phloen Chit Road owned by the British Embassy in mid-2006.
Clearly property is more profitable than food in Thailand and MBK has the figures to prove it. It’s certainly good to see some positive news from the property markets.
Thai property developer, MBK Plc, reported a consolidated net profit of £10.5 million for the first half of its 2007 financial year starting from July 1st – this is a 24.7 percent rise from the same period a year earlier, on revenue totaling £48 million – up 1.9 percent.
