ANANDA SIGNS AGREEMENT WITH MITSUI FUDOSAN FOR NEW VENTURE
(Following is a press release of Ananda Development Pcl via an electronic mail. The statement was confirmed by the sender.)
19th June 2013
Ananda Development PCL announces its signing of a joint-venture partnership agreement with Mitsui Fudosan Residential Co., Ltd.
Bangkok, 19 June 2013 - Ananda Development Public Company Limited announces its signing of a joint venture agreement with Mitsui Fudosan Residential Co., Ltd.
Ananda Development has signed a joint-venture partnership agreement with Mitsui Fudosan Residential Co., Ltd (MFR) to develop property projects in Thailand.
The joint venture is for the two parties to co-invest in real estate development projects in Thailand and with the intention of sharing knowledge and experience.
MFR is a subsidiary of Mitsui Fudosan Co Ltd, which recorded revenue of JPY1.445 trillion (US$14.007 billion) at the close of the last financial year.
“Ananda Development is deeply honoured to partner Mitsui Fudosan, one of Japan’s most renowned property developers. This is the result of intensive research of Thai developers by Mitsui Fudosan and extensive discussions between the two companies and we consider this to be a major endorsement of Ananda,” said Chanond Ruangkritya , CEO of Ananda Development PCL . “We are very excited to work closely with Mitsui Fudosan, with its vast experience and expertise, in the development of residential projects in Bangkok. We are looking forward to learning from our new partner as it is one of the world’s leading property developers. We also hope this partnership will pave the way to even greater exposure of the Ananda brand to the highly-discerning Japanese market,” he added.
“We expect to announce the details of our first joint project very soon.”, he added.
About Ananda Development PCL
Ananda is a publicly listed real estate development company listed on the Stock Exchange of Thailand (Symbol: ANAN)
The company is the leading developer in Thailand of residential condominium projects within 300 meters of mass transit stations. The company also develops landed housing projects in Bangkok.
Ananda’s primary brands are “IDEO” condominiums, situated within 300 meters of a mass transit station, which are targeted at first home buyers and professionals who value modern design, convenience and ease-of-access when choosing a place to live, and “ELIO” condominiums, situated within 600 meters of a mass transit station, which are aimed at those who want the IDEO lifestyle but at a lower cost.
For more information, please contact:
Dr. John Millar Investor Relations
Tel (+66) 2697-3300 ext 3053 Mobile (+66) 8 7799 1946 Fax (+66) 2697-3311
Kulnaree Meekaew (Mint) PR Manager
Tel (+66) 2697-3300 ext 3208 Mobile (+66) 85 365 3337 Fax (+66) 2697-3320
Ananda Development Public Co.,Ltd. 11th Floor Lake Ratchada Office Complex Building 193-195 Ratchadapisek Rd., Klongtoey Bangkok 10110, Thailand