By Andrew Batt:
Uncertainties surrounding the upcoming launch of the Bangkok City Plan has seen some residential property developers delaying their land purchases.
The plan, which will be unveiled on May 16, could see the status of some locations redefined and have a subsequent impact on land prices. Developers may also be forced to alter their project designs.
Speaking to The Nation newspaper, LPN Development’s Managing Director Opas Sripayak said: "We will not buy new land in the first five months of this year in Bangkok because we don’t know whether we’ll be allowed to build condominiums at the locations where we buy the land,"
Director of the Department of City Planning at the Bangkok Metropolitan Administration, Kliangpol Pattanarak, said the plan was approved by committee after a third revision. Its aim is to link Bangkok with the suburbs, especially the locations close to the mass-transit system.
Five locations – Bang Na, Bang Khen, Ram-Indra, Min Buri and Taling Chan – are also slated to become what has been described as commercial suburban areas.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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