One of Thailand’s leading property developers is hopeful that the property business will be growing, thanks to the government’s clarification of the electric train development project.
Chanond Ruangkritya, (pictured), the Chief Executive Officer of Ananda Development Public Company Limited, said that the overall picture of the property development is looking more promising because he is confident that the local economy is continuing to recover alongside the many economic stimulus measures from the government.
Chanond added that local banks’ uninterrupted approvals of mortgage will enable people who wish to own a piece of property to realise their dreams – a scenario that is going to be a boon for the market.
He believes such a positive outlook will help the industry grow more visibly during the second half of the year, especially in the condominium sector, because of the construction of new electric train routes in Bangkok.
Quoted by Thailand’s National News Bureau, Chanond went on to say that his company has recently joined Mitsui Fudosan, Japan’s largest property developer, in launching four new condominium projects worth more than THB14.5billion baht along the city’s electric train routes.
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg