City resort group eyes rapid growth

Rajvithi City Resort recorded a pre-sale of 30 per cent after bookings opened last month, the group's managing director Chaivai Poonlapmongkol said.

City Resort Group was founded by Chaivai and a close friend of his. The group has developed two city-condominium projects with a cumulative value of Bt1.5 billion. These include the Silom City Resort, which is sold out, and Sukhumvit City Resort, where construction has been completed and 90 per cent of the total project value of Bt1 billion has been recovered.

Chaivai, 60, said the group has been developing residential projects since 1990.

Its first few projects included the Royal Ping Garden and Resort in Chiang Mai, a residential project which comprised townhouses, detached houses and condominiums in the Klong Long district, Pathumthani province.

"We suspended our business expansion after the economic crisis of 1997 and came back to expand our investment in 2003 by developing the Silom City Resort which was successfully sold off and transferred to our customers in 2006," Chaivai said.