Pace aims to wipe out Bt20bn debt pile by end of 2019

Real Estate April 24, 2018 19:52

By The Nation

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Listed property firm Pace Development Corp plans to have paid off its Bt20-billion debt by the end of next year, chief executive officer Sorapoj Techakraisri said on Tuesday



 

The company has already sold off some assets to King Power Group this year, and will also transfer units in residential projects to customers.

These moves will enable it to halve the debt to Bt10 billion by the year’s end, he said.

Pace is also negotiating with King Power for the sale of 53 condominium units in the MahaNakhon project. 

If the deal is finalised, the company would then be able to achieve the goal of wiping out the entire Bt20-billion debt pile it faced at the end of last year, Sorapoj added.