Raimon Land plans expansion into Europe and Australia next year


Thailand's leading luxury property developer Raimon Land (RML) has announced plans to expand its brand into the European and Australian real estate markets next year.

The company’s newly appointed CEO, Brenton Justin Mauriello, revealed his business direction, strategies and goals at a press conference on Thursday.

He said that Raimon Land has had a vision of expanding abroad since its inception, but now the time had come to take the next steps.

"We would like to transform Raimon Land from the country's number one luxury property brand to become a premium global brand in real estate development," he said.

He noted that Raimon Land initially considered various luxury properties in Europe and Australia, where there are many undervalued premium properties at present.

Brenton Justin Mauriello

The company, he said, is now exploring potential opportunities in both markets while seeking credible local partners to work with.

Raimon Land's first overseas project is expected to take off in 2025.

Korn Narongdej, RML’s director and chairman of the executive committee, explained that the group had chosen the European and Australian markets due to its potential growth in branded residence that aligned with RML's expanding direction outside Thailand.

Korn Narongdej

According to BNP Paribas, branded residences allow buyers or developers to own a property in association with exclusive hotels worldwide, resulting in a private home that offers a luxurious way of life that combines hotel-quality services with convenience and security.

"The world is now seamlessly connected which was a signal for Raimon Land to spread its brand and invest in the international market," he said.

He expected the group's revenue would be split 50/50 between domestic and international markets within the next 3-5 years.

To become a premium global brand, new CEO Mauriello has laid out four strategic pillars to strengthen its products, operations and services.

The four pillars are the capabilities of the team to improve organisational effectiveness, a clear focus on improving investment efficiency to ensure financial stability, setting new standards to maintain leadership in the luxury and ultra-luxury real estate markets, and balancing financial strength with cost-effective management and increased efficiency.

Raimon Land plans expansion into Europe and Australia next year

"We will transform from the best luxury developer to a super ultra-luxury brand," he said.

To ensure that RML meets its ambitious goal, Mauriello unveiled the group's three super luxury projects, which will launch this year.

Two projects are exclusive houses and mansions in Bangkok, while the third is a luxurious pool villa in Phuket's southern province. The total value of these three projects is around 16-17 billion baht.

Raimon Land plans expansion into Europe and Australia next year

Meanwhile, in order to strengthen RML's financial position, the company intends to establish a Private Equity Trust (PE Trust) to attract institutional investors, such as private equity funds, to invest in each of the RML projects. The trust differs from a joint venture in that investors will have a specific timeframe for investment and straightforward returns with zero defaults.

RML's new CEO said the trust would be worth at least US$100 million and would launch within the next year.

Raimon Land plans expansion into Europe and Australia next year

"The PE Trust would receive a good response from foreign investors in China, Hong Kong, and Japan because the opportunity to get stable returns is better than investing in the capital market," Korn said, expressing his confidence that under the management of the new CEO, the RML brand would emerge as a well-known international company for super luxury property development.