Three new projects from Grand Unity

The company plans to launch three or four new residential projects worth up to Bt2.5 billion each year, he said.

The company has also appointed Neramit Srangiam as managing director, effective immediately.

Grand Unity Development is a joint venture between Univenture (60 per cent), LPN Development (20 per cent) and Youwawong (20 per cent).

The company has registered capital of Bt600 million.

"The new projects will entail both our own on undeveloped land and taking over existing ones owned by other property developers who don't have enough cash to complete them," he said.

He said two of the projects scheduled for the second half have been acquired from other developers. They are the 50-unit Parkview Viphavadi 4, worth Bt60 million, and the 139-unit U Sabai, which is located on 2 rai of land on Rama IV Road and worth Bt500 million.

The third one is being developed by the company itself on 3 rai of land in Bang Sue district of Bangkok. It is a 600-unit condominium project worth Bt1.6 billion and will be called Condo U, to match the company's new "U" logo.