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EXCLUSIVE INTERVIEW

KPN Lifestyle CEO fulfilling his dream

Korn shares his insights, experiences and future plans in realestate sector



KPN Lifestyle CEO fulfilling his dream

KPN Lifestyle's CEO Korn Narongdej

After launching the realestate business at the KPN Group six years ago, Korn Narongdej is taking on new challenges to make the business a success.

Korn said real estate had now become a key business sector for the KPN Group, which otherwise deals in vehicles, music and entertainment, services, and trading.

"The realestate business, KPN Lifestyle, contributes 20 per cent to the group's revenues and we expect that to increase to between 40 per cent and 50 per cent in the next four to five years," KPN Lifestyle's chief executive said.

Korn is the son of Kasem and Khunying Porntip Narongdej, who together chair the group.

"The realestate industry has totally changed and is now in the hands of consumers, not sellers, as it was earlier," Korn said.

He said there were many factors affecting the development of the market in Thailand. The competition has increased dramatically and the standard of living of the Thai people has also substantially improved.

"In the case of residential projects, I get completely involved in the development process, from concept creation to finding a location, pur¬chasing land, identifying require¬ment of construction materials and interior designing," Korn said.

He said the company plans to focus on highend residential projects, which target APlus customers.

"The global economic downturn has not had a major impact on lux¬ury projects although it has significantly affected the purchasing power of the medium and lowerincome groups," Korn said.

Korn completed his highschool education at the Sathit Pathumwan School in Bangkok. He acquired a bachelor's degree in business administration with a specialisation in finance from the Regent's College in London in 1998. He then returned to Bangkok and worked at Merrill Lynch, a leading financial management and advisory company, for about two years.

"At Merrill Linch, I realised that a career in finance is not for me," Korn said. He then decided to enhance his educational qualifications in a way that would benefit the family's business in the future.

Korn returned to England and obtained a master's degree in human resource management from the London School of Economics.

"I choose the field because I realised that human resources form the core of any organisation. The workforce is what produces highquality products and forms the face of the company during interactions with clients," Korn said.

Korn stayed another six months in England to study interior design. It was then that he hit upon what he really wanted to do in his career and started KPN Lifestyle, a prop¬erty unit of the KPN Group.

"When I came back to Bangkok six years ago, it was boom time for condominium projects. With my parents' support, I ventured into a new business line," Korn said.

"Personally, I enjoy doing something new every day and real estate enables me to fulfil this need. Each realestate project involves creat¬ing something from scratch," he said.

Korn said he was proud of his first project, The Cadogan, a 24unit luxury condominium worth Bt320 million, on Sukhumvit Road Soi 39, which was sold out within two months of its launch.

This year, Korn launched his second project, a 35unit condomini¬um called Vincente, worth Bt300 million, on Sukhumvit Road Soi 49. The fully furnished condominium designed in Art Deco style began presales in February and 65 per cent of its space has been already sold. The units are priced betwen Bt7 million and Bt12 million.

Korn said by the end of next year he plans to launch a Bt1billion residential project comprising six luxury villas in Krabi. Their price will range from Bt120 million to more than Bt180 million.


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