One of Thailand’s most renowned real estate personalities has established a new development partnership to guide developers and owners through market challenges and allow them to maximise the potential of their assets.
Far East Consultants Co., Ltd. (Far East) has been created by Nigel Cornick, a highly respected executive who has worked in real estate for over 40 years across four continents, initially in the UK, the Middle East and Australia before moving to Thailand in 1991. Having successfully taken Raimon Land out of business reorganisation in the early 2000s, he was appointed CEO in 2003 and set about transforming the company into Thailand’s leading luxury real estate developer.
During his tenure at Raimon Land, Mr. Cornick was instrumental in creating and completing a total of 12 projects comprising a gross floor area (GFA) of 626,000 square metres at a combined value of THB45 billion (US$1.4 billion). These included some of Thailand’s most prestigious developments, including The River, 185 Rajadamri, The Lakes and The Lofts Yennakart in Bangkok, Northpoint and Northshore in Pattaya, and The Heights and Kata Gardens in Phuket, establishing an internationally recognised benchmark for luxury real estate in the country for the first time.
These projects collected multiple awards, including “Best Luxury Condo Development (Bangkok)” for 185 Rajadamri and “Best Condo Development (Eastern Seaboard)” in 2008 and 2010 for Northpoint at the Thailand Property Awards, as well as “Best Condo Development”, “Best Luxury Condo Development (Bangkok)” and “Best Condo Development (Thailand)” for The River at the South East Asia Property Awards. Mr. Cornick also collected the “Best Developer” title at the Thailand Property Awards for two consecutive years in 2007 and 2008 – a feat never since repeated.
A former Fellow of the Royal Institute of Chartered Surveyors and the Institute of Thai Directors, Mr. Cornick has also served as CEO of Binswanger Brooker and Kingdom Property, and sat on the Boards of Raimon Land and Golden Land PLC. Following a brief career hiatus whilst battling Non-Hopkins Lymphoma, he is now fully recovered and ready to face a future full of opportunities.
“I am delighted to be back in Thailand’s real estate sector. This is a new chapter for the industry; the market outlook has changed significantly in the last two years, but this has also created opportunities for forward-thinking owners and investors. At Far East, we will provide the advice to help our clients navigate this new landscape and take advantage of emerging trends,” Mr. Cornick said.
Far East will be a partnership of experienced professionals including several team members that have previously worked with Mr. Cornick and have skills in all aspects of real estate development, from site analysis, feasibility studies and technical design through to development management, sales & marketing, property management and asset management. It will also provide guidance on legal matters such as environmental impact, financing and joint venture partnerships.
Current clients include landowners who are seeking to enhance the value of their assets, but who do not have the resources to achieve it. By providing a thorough analysis of the owner’s property and a review of existing developments, Far East will be able to provide the owner with a development audit that offer recommendations on how to generate the most lucrative returns.
Every analysis will take into consideration the current market conditions and future outlook to ensure that the owner is in the best possible position to capitalise.