SINGAPORE (Dec 17): NOON Capital and Asia Capital Real Estate (ACRE) on Monday announced the launch of a US$25 million ($34 million) project in Phuket, Thailand, as part of a partnership that will see the two companies sink up to US$150 million into a Thailand-focussed real estate fund.

The Phuket project is the first of at least six multi-family development projects, with further expansion expected across cities such as Pattaya, Chiang Mai and Bangkok.

NOON Capital is a Southeast Asia-based property developer and manager while ACRE is a private real estate investment firm.

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