IR Press Releases

Noble Development Public Company Limited and U City Public Company Limited, an affiliate of BTS Group Holdings Public Company Limited, have entered into 50: 50 joint venture agreement under the development plan of residential projects for sale under the Strategic Alliance Framework Agreement. The first co-project of 2020 has today announced a THB 2 billion on the prime location of Ratchada-Ladprao. By combining the strengths and synergies of the two companies, the new residential projects along the mass transit lines will be launched to serve the markets in the long-term.

Mr. Thongchai Busrapan, Chairman and Co-CEO of Noble Development Public Company Limited, said “With Noble’s high experience and professional in real estate development comprising of more than 50 residential projects with the total value of more than THB 100 billion and a proven expertise in property management with strong financial standing of U City’s, an affiliate of BTS Group Holdings, this strategic joint venture will create the ideal synergy for successful collaboration.

Our first strategic partnership project is a condominium on Ratchada-Ladprao area, which will be developed under RATCHADA ALLIANCE CO., LTD on over 2-rai land plot, located only 70 meters to MRT Ratchada (MRT Yellow line) and 180 meters to MRT Lat Phrao (MRT Blue Line), worth approximately THB 2 billion with the paid-up capital of THB 50 million. Moreover, the two companies have planned to collaborate more new project developments to expand and reinforce the core business in residential development on the locations next to mass transit routes. We believe our projects under this collaboration will complement all aspects of urban living needs and will contribute outstanding performance of new projects under joint development.”

Ms. Piyaporn Phanachet, CEO and Executive Director of U City Public Company Limited, said “U City is experienced in investing in business management and real estate development that will generate long-term revenue for the company. As a part of the company’s strategy in joining effort with outstanding business partners who are acclaimed for impressive branding and marketing, this collaboration with Noble will diversify the company’s management expertise and enhance the portfolio of U City's residential projects for sale in addition to the current number of projects with Sansiri in a short time. Also, Noble’s diverse customer network also support to broaden our customer base in Thailand and overseas which will enable U City to advance access to real estate development opportunities.

About Noble Development Public Company Limited

Established in 1991, Noble Development has been very successful throughout the past three decades. The company became a listed company on the Stock Exchange of Thailand in 1997 with ticker symbol “NOBLE”. The company develops various residential projects, ranging from single house to townhouse, as well as low-rise and high-rise condominiums. It is committed to offering innovative concepts to create living experience that is beyond expectation. All Noble projects reflect Noble’s commitment, creativity and the its passion to address modern consumers’ changing lifestyle and living experience.

About U City

Listed on the Stock Exchange of Thailand for over 30 years, U City Public Company Limited is a property investor and developer with a total assets of THB 53bn (as of 3Q/ 2019). The company’s business strategy encompasses a diversified investment portfolio of high-quality real estate worldwide including hotel and residential properties. Among the hotel portfolio business, comprises of 52 hotels with over 8,000 keys in Europe under Vienna House hotel chain, 26 hotels with over 3,000 keys in Asia under the brands of Eastin, U and Travelodge. A total of 78 hotels are currently operating with over 11,000 keys worldwide. The company plans to open more 39 hotels within 2024.

In addition to the hotel business, U City have been investing in several other projects, including International School and mixed-used building. We have VERSO International School, the THB 4.8bn worth project, with “future ready”, a 21st century educational concept on Bangna-Trad road, which the school will provide an exceptional personalized educational experience designed with students’ interests and passions as its core. Moreover, we have The Unicorn, THB 9.5bn mixed-use complex, which will comprise of hotels and office, located next to BTS Phaya Thai Station and airport link. The company has also entered into a strategic partnership with Sansiri to develop condominium projects along the mass transit routes, including THE LINE, The Base, and The Monument Thonglor, with a total investment of over THB 100bn.

Details for picture (Left to right)

Mr. Frank Leung, Vice Chairman & Co-Chief Executive Officer of Noble Development Public Company Limited (Second left)
Mr. Thongchai Busrapan, Chairman & Co-Chief Executive Officer of Noble Development Public Company Limited (Third left)
Ms. Piyaporn Phanachet, Chief Executive Officer and Executive Director, U City Public Company Limited (Fourth left)
Mr. Kong Chi Keung, Director of U City Public Company Limited and Executive Director and Deputy Chief Executive Officer, BTS Group Holdings Public Company Limited. (Fifth left)

For more information, please contact:

Piyatip Diloksri piyatip.d@noblehome.com, Tel 02-251-9955 Ext. 1410
Saranjit Chuwongkomol,pr@ucity.co.th, Tel 02-273-8838 ext. 2301
Bodee Prompayuck or Nachanok Punyavirocha,ir@ucity.co.th, Tel 02-273-8611 ext. 1515