{"id":40800,"date":"2017-01-16T13:23:06","date_gmt":"2017-01-16T06:23:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bangkoks-mahanakhon-tower-recieves-huge-cash-injection-from-the-us\/"},"modified":"2017-01-16T13:36:44","modified_gmt":"2017-01-16T06:36:44","slug":"bangkoks-mahanakhon-tower-recieves-huge-cash-injection-from-the-us","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bangkoks-mahanakhon-tower-recieves-huge-cash-injection-from-the-us\/","title":{"rendered":"Bangkok\u2019s MahaNakhon Tower recieves huge cash injection from the US"},"content":{"rendered":"<p>&#013;<br \/>\nA milestone for Thai real estate<br \/>\nMahaNakhon is Thailand\u2019s tallest tower. Image: JADEZMITH \/ Shutterstock<br \/>\nPace Development entered into an agreement with alternative investment management firm Apollo Global Management for a stake in MahaNakhon. The US-based company will invest approximately THB 8.4 billion (USD 235 million) in Thailand\u2019s tallest building. This investment is seen as a significant milestone in Thailand\u2019s real estate industry with the well-known international private equity firm entering into the market.<br \/>\nPhilip Mintz, Head of Apollo\u2019s Real Estate Business in Asia says in a press release that the group is happy for the opportunity to invest in such a well-constructed trophy tower. He adds, \u201cWe look forward to working with Pace for many years to enhance the value of what we believe is one of the best real estate assets in Asia.\u201d<br \/>\nMore: These are Thailand\u2019s priciest villas<br \/>\nThe agreement will see THB 5.9 billion (USD 165 million) of funds managed by affiliates of Apollo invested into the project. US-bank Goldman Sachs is expected to invest THB 2.5 billion (USD 70 Million) in the project. The companies will hold 49 per cent in The Bangkok EDITION Hotel and the MahaNakhon CUBE along with the tallest observation deck and rooftop bar in Thailand.<br \/>\nThe investment is another sign that confidence in Thailand from international investors is on the rise. Apollo\u2019s investment includes a stake in the future and current income generating assets in the MahaNakhon. The project, which held a massive launch last year, has garnered interest from foreign firms wanting to be a part of the hallmark development.<br \/>\n\u201cIt is a great honour for us to have funds managed by affiliates of Apollo, one of the world\u2019s leading alternative investment management firms, as our strategic business partner investing in our award-winning MahaNakhon development, Sorapoj Techakraisri, CEO, PACE states. \u201cI am pleased to say that this investment will add value to maximize the income generating assets of the company. Further, with Apollo\u2019s extensive experience and financial strength, Pace will be able to enhance and expand our investment both locally and internationally.\u201d<br \/>\nThis story was originally published on DDProperty.com on 11 January 2017<br \/>\nRead next: This property market in Thailand isn\u2019t impressing anyone&#013;<br \/>\n&#013;<br \/>\nSource : property-report.com&#013;<br \/>\nRead more&#8230;<a href=\"http:\/\/www.property-report.com\/bangkoks-mahanakhon-tower-recieves-huge-cash-injection-from-the-us\/\" target=\"_blank\">Bangkok\u2019s MahaNakhon Tower recieves huge cash injection from the US<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#013; A milestone for Thai real estate MahaNakhon is Thailand\u2019s tallest tower. Image: JADEZMITH \/ Shutterstock&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-40800","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aC4","jetpack-related-posts":[{"id":24709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mahanakhon-accused-of-breaching-thai-law\/","url_meta":{"origin":40800,"position":0},"title":"MahaNakhon accused of breaching Thai law","date":"September 2, 2016","format":false,"excerpt":"\r Bangkok\u2019s tallest tower is at the centre of a row over Thai labor laws At 314 metres, MahaNakorn is Thailand\u2019s tallest building. weerasak saeku\/Shutterstock_ Following the success of Monday evenings lights show, Thailand\u2019s tallest building, MahaNakhon is facing conflict over claims it breached Thai labour laws. The complaint regards\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23365,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thailands-luxury-developers-seek-outside-investments\/","url_meta":{"origin":40800,"position":1},"title":"Thailand\u2019s luxury developers seek outside investments","date":"August 19, 2016","format":false,"excerpt":"\r Thai developers are hitting the road to showcase luxury condo developments Bangkok\u2019s skyline with the structurally impressive MahaNakhon Tower. Image credit: MJ Prototype\/Shutterstock Faced with a flagging market, Thai luxury condo developers are striking out abroad to showcase their projects. Leading the charge is Pace Development Corp, the mastermind\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19570,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/finishing-touches-on-bangkoks-tallest-superluxury-tower\/","url_meta":{"origin":40800,"position":2},"title":"Finishing touches on Bangkok\u2019s tallest superluxury tower","date":"July 13, 2016","format":false,"excerpt":"\r Residents are expected to move in this Q3 2016 Image credit: MahaNakhon on Facebook The finishing touches are being put in place at the 77-story MahaNakhon tower, Bangkok\u2019s tallest building, and the first residents will start moving in throughout September. In addition to the 209 Ritz-Carlton Residences, the development\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24358,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/last-nights-majestic-mahanakhon-light-show-was-a-hit\/","url_meta":{"origin":40800,"position":3},"title":"Last night\u2019s majestic MahaNakhon light show was a hit","date":"August 30, 2016","format":false,"excerpt":"\r Monday\u2019s event celebrating the MahaNakorn\u2019s completion went off with a bang Image credit: MahaNakon on Facebook Last night, all eyes were on the MahaNakhon skyscraper in Bangkok for \u2018MahaNakhon Bangkok Rising: The Night of Lights.\u2019 Property Report was lucky enough to be invited to witness the event from the\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bangkok-condos-soar-to-their-highest-off-plan-prices-yet\/","url_meta":{"origin":40800,"position":4},"title":"Bangkok condos soar to their highest off-plan prices yet","date":"December 22, 2016","format":false,"excerpt":"\r Will the Thai capital sustain this rate of growth next year? The Bangkok skyline with MahaNakhon, Thailand\u2019s tallest tower. george photo cm \/ Shutterstock.com It appears that the Bangkok luxury home market will finish the year with crowning success. Asking prices of off-plan, high-end condominiums in the city\u2019s downtown\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29649,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-tallest-building-nears-completion-2\/","url_meta":{"origin":40800,"position":5},"title":"Singapore\u2019s tallest building nears completion","date":"October 12, 2016","format":false,"excerpt":"\r Tenant list includes Agoda and Virgin Active Tanjong Pagar Centre, Singapore\u2019s tallest building at 290 metres high, is close to full completion, said property developer GuocoLand on Monday. The 890,000-square-foot office component Guoco Tower and its basement retail space have already received the Temporary Occupation Permit (TOP). Despite a\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40800"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=40800"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40800\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}