BELLINGHAM, Wash., July 21, 2005 (PRIMEZONE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) reported today it has appointed CB Richard Ellis Thailand to market its resort sub-division in Phuket, Thailand.
Asia Properties CEO, Daniel McKinney said, "We are delighted to have appointed CBRE, the leading International property company to market this superb resort project." The company purchased the property on June 29, 2005 which includes the majority of Phase II as well as 5 lots from Phase I of Baan Naiyang Resort, a gated sub-division in Northern Phuket. According to David Simister, Chairman of CB Richard Ellis Thailand, "Purchasing a holiday home in Phuket is a lifestyle investment. It is also choosing to place one's money in a strong market where capital appreciates 10-15% per annum between the launch of a project and owners taking possession, and where rental income has historically been high."
A Baan Naiyang Resort sales kiosk with sales staff is now conveniently located near the departures check-in counter at Phuket airport.
Please see Baan Naiyang Resort price list: www.asiaprop.com/price-list.html
Baan Naiyang Resort, just 10 minutes South of Phuket airport is located near the Pearl Village Hotel and Arahmas Hotel (formerly Pavilion) on Naiyang beach. Naiyang beach is a rapidly developing area with many five star resort and villa developments being built. We expect development in Northern Phuket to continue over the next few years with comprehensive infrastructure including shopping malls, grocery stores, restaurants and other facilities.
The company also reported receiving the first tranche of US$100,000 of the US$500,000 private placement signed on June 7, 2005.
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market.
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
The Asia Properties, Inc. company logo can be found at: http://www.primezone.com/newsroom/prs/?pkgid=1733