Thailand: Pace Development to raise $375.7m via REIT

Thailand: Pace Development to raise $375.7m via REIT

Image from MahaNakhon

Thailand’s listed property developer Pace Development Corporation Pcl plans to sell its assets worth more than 13 billion baht ($375.7 million) into a real estate investment trust (REIT) in the next few years, according to a report in Bangkok Post.

The assets to be sold will include Sky Observation Deck worth 8 billion baht, Bangkok Editon Hotel worth 4 billion baht and the retail building – MahaNakhon Cube – worth 1.5 billion baht.

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