Baker McKenzie Thailand has successfully represented Proud Real Estate Public Company Limited, a listed Thai real estate developer with an impressive portfolio of residential projects, in its acquisition of two condominium projects in the midst of construction, Nue District R9 and Nue Cross Khu Khot Station (through a shares acquisition of the two project companies) from Noble Development Public Company Limited and TNL Alliance Co., Ltd., worth approximately Thai Baht 8,623 million.
With a growing portfolio of impressive projects across the country, the inevitable growth of the real estate market coming out of COVID-19 is expected to generate even more demand for prime residential projects. The acquisition of Nue District R9 and Nue Cross Khu Khot Station will strengthen Proud Real Estate Public Company Limited’s portfolios and help it to better capture the rebounding Thai residential real estate market.
Our team at Baker McKenzie assisted Proud Real Estate Public Company Limited throughout the entire transaction. Leading this transaction were Partners Wittaya Luengsukcharoen and Nuchaya Timrat, who were assisted by Associates Naris Asavathongkul, Denpoum Pipatcharoenkij, Karnjanick Chutima, Tonpan Pokeaw, and Ratthachat Kumhom. Our capital markets team led by Partners Theppachol Kosol and Treetip Parksook with support from Associate Ratsada Sampansakul also assisted the client on capital markets regulations aspects.
Commenting on this deal, Partner Wittaya Luengsukcharoen said: “It is our great pleasure to have assisted our long-standing client in this crucial transaction, and be a part of their growth story”.
Partner Nuchaya Timrat supplemented: “We have leveraged our M&A and real estate strengths for the best possible outcome for this transaction. We are proud to be a part of another Proud’s success story”.