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Dubai businessman to sell units in Bangkok tower

on Apr 8, 2013

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A Dubai-based businessman has invested over $27m (AED: 100m) into a new $640m mixed-use project in Thailand.

According to Gulf News, the chairman of the House of Patels company, Asghar Patel, has acquired exclusive rights to sell units in the MahaNakhon project in the GCC and India.

The project is a mixed-use skyscraper that is currently being built in Bangkok's central business district.

The tower, which has been designed by architectural practice Office for Metropolitan Architecture, has a pixelated facade and a cuboid-surfaced spiral cut in throughout the building.

The 314m building will be the tallest in Bangkok and will house a hotel, retail space and apartments, including 194 serviced apartments branded as The Ritz-Carlton Residences. Properties will be priced at between $1m-$11m.

The project is being jointly developed by Pace Development Corporation of Thailand and Industrial Buildings Corporation. It is set to complete in 2015.

“We are soon going to launch a marketing campaign in the UAE in April to promote investment in the tower, whose value is expected to grow fast due to strong demand,” Patel said.
House of Patels is based in Mumbai and is reported to have a turnover of $185m.