Noble Development Public Company Limited (SET: NOBLE) has released a statement in reference to the news relating to NUE Noble Ratchada Lat Phrao Project and Noble Revolve Ratchada Projects as follows;
1) NUE Noble Ratchada Lat Phrao Project was permitted to be constructed using the entrance/exit to Ratchada Road, which is the same as the entrance/exit to the park and ride building of Mass Rapid Transit Authority of Thailand (MRTA). The Project’s original land had an entrance/exit to the public road, but was subsequently expropriated by MRTA, causing the land to lack entrance/exit. As a result, MRTA has the authority to grant the Project the permission to use the entrance/exit to its park and ride building as entrance/exit to the Project without expiration, so as to maintain the right to the entrance/exit to the public road lawfully existing since before the expropriation. Such permission has been granted by the MRTA and this permission does not hinder the objective of the expropriation and MRTA can still use the expropriated land pursuant to the objective, where the park and ride building has been used since 2004 to present. Therefore, it is clear that the current use of the entrance/exit to the park and ride building of MRTA is still in line with the original objective. In particular, there has been no modification, relocation or adjustment of the width of the entrance/exit. Therefore, the entrance/exit to the Project is duly constructed in accordance with the laws.
2) Noble Revolve Ratchada Project and Noble Revolve Ratchada 2 Project were permitted to be constructed using entrance/exit to Ratchadapisek Soi 6 Road. Certain parts of the original lands of the Projects were expropriated by MRTA for the constructions of Thailand Cultural Center Station, the park and ride building and additional parking lots, causing the lands to lack entrance/exit. As a result, MRTA has the authority to grant the Projects the permission to use certain parts of its lands as entrance/exit to the Project without expiration, so as to maintain the right to the entrance/exit to the public road lawfully existing since before the expropriation. Such permission has been granted by the MRTA and the lands have been used in line with the original objective. In particular, there has been no modification, relocation or adjustment of the width of the entrance/exit because MRTA has originally used such lands as parking lots. In addition, the Company has registered the servitude upon certain parts of the lands as entrance/exit to Noble Revolve Ratchada Project and Noble Revolve Ratchada 2 Project. Therefore, the entrance/exit to the Projects is duly constructed in accordance with the laws.
The company gives confidence to clients and affirms that NUE Noble Ratchada Lat Phrao Project, Noble Revolve Ratchada Project, and Noble Revolve Ratchada 2 Project are lawfully permitted and have been duly constructed in compliance with all relevant laws.
