Shareholders of THG back property deal

The site covers more than 8 rai for the development, which will be built under the concept of Healthy Living and Happiness. It is aimed at senior citizens who want to continue living the area and benefit from full healthcare services. 
Boon Vanasin, chairman of the board of THG, said on Friday that the site purchase was approved at an extraordinary shareholders meeting. The assets were bought from Premiere Home Healthcare Co Ltd, an affiliated company of which 99.99 per cent of the shares are owned by THG. 
The property purchase came to Bt250 million and the meeting approved an investment budget of Bt450 million for the first phase of project development, totalling Bt700 million for a development of residence and healthcare centre at Thonburi Health Village.
On the site are an 11-storey building and a 16-storey tower, along with two three-storey commercial buildings. 
The two tall buildings are in good condition with a strong structure, and have received a building construction permit which enables them to be developed for residential purposes without the need for an environmental impact assessment.
Boon said that after the transfer of land ownership, the company plans to have two phases of development in the initial stage. 
The first will see the development of “a condominium with healthcare services and facilitation for the residents such as health check-up |service, healthcare staff, activity area for the elderly, green area for recreation and exercise areas for mid-level customers”. 
For the second and third phases, there will be the initial development of the hospital for recovery and physical therapy as well as an elderly care centre. 
“The development of the project is to gather the healthcare experience and proficiency as the foundation to expand to a residential project with healthcare service for the residents in order to expand customers to a variety of segments,” Boon said. 
“The Thonburi Health Village project focuses on general customers with affordable prices so that the majority of the people can own a home, especially, the customers of Thonburi Healthcare Group who are familiar with the area and are looking for a residence which helps promote good health with facilitation and well-rounded safety for the completed good quality of living suitable for the elderly,” Boon said.
At present, JIN Wellbeing County Rangsit, a THG project under development, focuses on middle- to low-income earners. The company said it is confident that the development of Thonburi Health Village project “will receive benefits from the present lifestyle of the people who place their emphasis more on caring for their health amid an ageing society” in Thailand. 
“We realised that the Pracha-Uthit area is a good area with a large community congregated in a dense population, situated near schools, a shopping mall, and an express way,” Boon said.
“This area provides easy commuting to the city centre. Such proficiency is suitable for development of the residence project for living and providing healthcare services with a different concept from other projects located within the area.”