BMCL – Purple Line deal agreed – BMCL expects construction of the Purple Line extension will be up and running 40 months from now, two years behind the original schedule of 2015. BMCL, which operates 20km of subway trains and 18 stations from Hua Lamphong to Bang Sue, yesterday signed a Bt82.6bn contract with the Mass Rapid Transit Authority of Thailand (MRTA) for the procurement, installation, operation and maintenance of the Purple Line. The route is expected to boost ridership by another 200,000 per day on the subway, which started in 2004. (Bangkok Post, 05/09/13)
Comment: We think this news has already been priced in for a while.
Noble plans return to single-house projects- The SET-listed developer Noble Development Plc plans to resume single-house development with a new project in northern Bangkok next year. Next year will also see Noble enter the low-end condo segment for the first time. It plans to launch a project in northern Bangkok with 700-800 units priced less than Bt2mn. On Sept 29, Noble will launch Noble Revolve Ratchada 2, a condo project worth Bt2.8bn with 755 units sized 22-50 square metres. Prices will range from Bt2.6-7mn or Bt130,000 per sqm. (Bangkok Post, 05/09/13)
Comment: Noble had caught the trend well for mid/high end condominiums in Bangkok over the past 5-6 years so to see them return to SDH’s is a surprise, perhaps even a positive one.