Yongyutt Chaipromprasith, an innovator in property development, yesterday announced the establishment of “SCOPE”, a residential developer focusing exclusively on the designing and building of world-standard premium homes.
SCOPE will launch its first project in June 2019, followed by two others in the next 12 months, at a combined value of Bt11.2 billion.
The founding of SCOPE marks the first entry into Thailand’s highly competitive residential property sector by a new type of developer, specifically structured to meet the emerging needs of homebuyers, the company said in a release yesterday.
Yongyutt, chief executive officer, said, “SCOPE specialises in building homes for the best-travelled, the most demanding, and those with the most-refined international taste who seek homes with the design and quality on a par with the best available in New York or London.”
He said the firm had teamed up with the best consultants in the world, from Copenhagen, New York, London, and Milan.
Yongyutt said that SCOPE also aims to manage its own buildings for 10 years.
He estimates that there is “potential annual demand for ‘international premium’ standard condominiums of around 6,500 units a year, across all price points, valued at Bt90 billion.
Yongyutt co-founded SCOPE with the backing of SC Asset Corporation, one of Thailand’s top five listed property development companies.
SCOPE’s first project, costing Bt 7.8 billion, will be built on a prime 2-rai (0.32-hectare) plot on Langsuan Road, where real estate values exceed Bt3 million per square wah. The next two projects will be located in the Thonglor area and along Sukhumvit Road.
Deal signed on oil pipeline expansion to Northeast
Thai Pipeline Network (TPN), a subsidiary of Power Solution Technologies Plc (PSTC), has awarded a Bt9-billion contract for the expansion of an oil pipeline to the northeastern region of Thailand, to China Petroleum Pipeline Engineering.
The project, scheduled for completion by the fourth quarter of 2021, aims to reduce energy and oil consumption through land transport. This, in turn, will help bring down the price of oil in the northeastern region and increase Thailand’s competitiveness.
Panu Seetisarn, chairman of PSTC and director of TPN said, “The Company selected CPP to take on the turn-key project including construction and pipeline installation, because of its extensive experience in this type of project for the past 40 years. This project is valued at more than Bt9 billion and will be completed within 30 months, and ready for use by the fourth quarter of 2021.”
The pipeline installation will run 342 kilometres, covering 55 sub-districts, 18 districts and 5 provinces, starting from Sao Hai, Saraburi and ending at Ban Phai, Khon Kaen, with a 140-million-litre oil storage terminal at Ban Phai, Khon Kaen.
Once completed, the transportation of oil by road will be reduced by 88,000 trips per year, or a saving of over 15.4 million litres per year, while improving the efficiency of transport. Moreover, it will help to improve safety, reduce accidents on the roads, and reduce road maintenance costs. All in all, the oil price for the northeastern region will be reduced due to lower transport costs.
In addition, TPN and CPP are jointly conducting a feasibility study on expanding the installation of the oil pipelines to the Lao Peoples’ Democratic Republic to increase the efficiency of exporting oil to the country. Currently, the country is importing over 1.2 billion litres of oil from Thailand with increasing trends due to the growing economic and social status of the country.
The National Energy Policy Committee (NEPC) on August 13, 2015 approved the expansion of an oil pipeline to the North and Northeast regions of Thailand. TPN received NEPC approval to proceed with the project to expand the oil pipelines to Thailand’s Northeast.