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Bangkok Condo Developer Disappointment

By on May 09, 2016 in Property News, Residential

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There is disappointment in the world of the condo developer in Bangkok as 3 major rail projects have been put on stand-by.

The deputy transport permanent secretary, Peerapol Thavornsuphacharoen says contracts for 3 large projects under the Transport Ministry’s development plan will not be ready for signing this year. The projects are part of the government’s ambitious 2015-2022 development plan to stimulate the economy and boost investment. The projects include rail, maritime and air transport.

The 3 major rail projects that have been put on standby are the Pink Line electric train from Khae Rai to Min Buri, the Yellow Line electric train from Lat Phrao to Samrong and the joint Thai-Japanese double-track Kanchanaburi-Bangkok-Chachoengsao-Aranyaprathet and Bangkok-Chiang Mai rail routes.

There are various reasons for the delays. The Pink and Yellow lines are part of a public/private partnership scheme where a private party is allowed to get involved in a government project to assume financial, technical and operational risks and the ministry have ordered the MRTA to rework their timelines.  For the Thai-Japanese double-track project there has been a delay in the completion of the feasibility project.

For Bangkok condo developers this means further delay in developing profitable projects near to the new MRT Lines.

Source: Bangkok Post 26th April 2016
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