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Leading Thailand Property Developers Increase Investment

By on Feb 06, 2015 in Property News, Residential

thailand-property-2015-01-27_105305Leading property firms have set aside a budget of more than Bt100 billion this year to buy undeveloped land and construct the infrastructure for developing residential projects for both this year and next, according to a survey conducted by The Nation early this week. The funds will come from their cash flow, the issuance of debentures, and real estate investment trusts (REITs).

“We have expanded our investment to buy undeveloped land this year from last year’s level, when we invested only Bt7 billion, after seeing business opportunity both for developing residential projects and investing in assets that generate recurring income for the long term,” said Land & Houses president Naporn Sunthornchitcharoen.

Sansiri president Srettha Thavisin said the company’s Bt7-billion investment budget would be for the purchase of land in both Bangkok and the provinces, as the company believed the property market this year would recover from last year’s level thanks to an economic recovery driven by the government’s expenditure plans.

The most popular locations for new condominium projects are near to the mass-transit system. These include the Purple Line from Bang Sue to Bang Yai and the extended Blue Line from Hua Lam Pong to Bang Khae.

With limited provincial demand, listed developers have revised their business plans this year to launch residential projects in Bangkok and surrounding areas rather than in the provinces, The Nation survey found.

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