Tag Archives: Thailand Developers

The Erawan Group plans to sell Ploenchit Center to SCB Asset Management for Bt1.4b to help improve its financial performance this year, said its chief financial officer, Kamonwan Wipulakorn.

Luxury property developer Raimon Land has announced the forthcoming opening of Vue, a boutique fusion mall adjacent to The River, its prestigious development along the Chao Phraya. Located by The River's main road entrance on Charoen Nakorn Road, Vue will be completed by the end of the year, before The River's owners and tenants move in to their units during the course of 2012.

Thailand’s Asian Property Development (AP) is eyeing revenue growth of 25 per cent to THB17 billion (US$559 million) this year, with plans to launch 20 new projects focusing on both condominiums and low-rise developments.

Property firms have enjoyed a high rate of presales in the first quarter of this year despite the Bank of Thailand's measure limiting loans to 90% of the value of condominium units, which came into force on January 1. A survey by The Nation early this week found that the top 10 listed property developers recorded presales worth nearly Bt40 billion between January 1 and the middle of this month.

The Housing Finance Association expects growth in new home loans this year to slow to 8%, down from 9.2% last year, because of rising interest rates and cessation of tax incentives.

Second-hand units will see more demand. Housing prices are forecast to rise by at least 5% this year, reflecting the higher costs of construction, wages and land, says the Housing Business Association.