BELLINGHAM, Wash., Nov. 28, 2005 (PRIMEZONE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) reported today it has signed a further three sales and purchase agreements for Pine style homes in Baan Naiyang Resort, a resort sub-division in Phuket, Thailand.
"API is pleased to report sales of a further three homes in Baan Nai Yang Resort this month," said Asia Properties CEO, Daniel McKinney. The Company is experiencing substantial interest in its homes and significantly increasing visits by potential buyers to the site in Phuket as we move into the tourist high season.
"These most recent sales confirm our expectations of selling a minimum of US$1 million worth of homes this quarter," said CEO Mckinney. API is well positioned to expand its land acreage in the area as the Company sells out of its existing phases.
The Company will be holding an exhibition of its Baan Nai Yang Resort homes in Hong Kong from February 4-5th 2006. See the brochure at: www.asiaprop.com/ (click on Baan Naiyang, pull down menu)
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.
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney at (360) 392-2841 or www.asiaprop.com), or Charlotte Filleul, Phuket Sales Manager, CB Richard Ellis Thailand (www.cbre.co.th) at Tel 66 76 239 967-9, Fax 66 76 239 970, Cell 661 597 7137.
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 is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733