PM's sister launches Bt420m Phuket project
Caretaker Prime Minister Thaksin Shinawatra's younger sister Yaowares Shinawatra introduced her new property business Shinawatra Home Co Ltd (SHC) by launching the Bt420-million Dalaa Buri residential project yesterday.
The new development is in Phuket on the site of the shop she managed for Shinawatra Thai Silk Centre. Yaowares, president and chief executive officer of SHC, said that she sold her retail business, Shinawatra Chiang Mai, an export handicraft centre and commercial building in Chaing Mai, to beverage tycoon Charoen Siriwadhanabhakdi two years ago. She was left managing a store in the Silk Centre. "My daughter suggested developing the location that now is retail shop into a residential project," Yaowares said. So last year Yaowares established Shinawatra Home Co Ltd with registered capital of Bt59 million. The company's first project, Dalaa Buri will combine detached housing and commercial buildings on 13 rai. The houses will start at Bt11 million per unit. As a promotion, the first five customers who make a deposit on a property from now until September will get a special package worth Bt300,000. They can choose kitchen furniture, bathroom equipment, a home theatre or furnishings. Dalaa Buri should be completed in the next two years. If the project in Phuket succeeds, the company plans to develop other projects in the fourth quarter of this year, said Yaowares. The company has also undeveloped land in Chiang Mai and Bang Yai in Bangkok. Yaowares said that SHC had no connection with Shin Group. "I do not have any business relationship with Shin Group. I'm the younger sister of Thaksin Shinawatra but that does not mean my business will relate with Shin Group or Thaksin's business," she said. Somluck Srimalee The Nation
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