Stake in tower
Industrial-estate company Hemaraj Land and Development has paid Bt855 million for a major stake in the UM Tower on Ramkhamhaeng Road and an adjacent 0.16-hectare plot of land. The deal was made through a new subsidiary, H-Phoenix Property.
The 31-storey UM Tower has nearby Expressway access to both the Eastern Seaboard and central Bangkok. Its current occupancy rate is 75 per cent.
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