Developers should postpone land deals for new condominium developments until the new city plan is finalised, warns Supalai Plc managing director Atip Bijanonda, according to the Bangkok Post.
Atip said it is not worth buying land plots for new projects as planning requirements may be stricter in some areas and high-rise construction allowed in certain areas earlier may be restricted under the new plan. He said the Bangkok governor and the Interior Ministry want to change regulations relating to road width and construction areas in the new city plan.
According to the Bangkok Post, Supalai plans to spend THB4 billion (US$131.8 million) on new land plots this year and has increased the number of new project launches from 16 projects previously planned to 19 projects, worth THB20 billion (US$659.3 million).
Atip said it is not worth buying land plots for new projects as planning requirements may be stricter in some areas and high-rise construction allowed in certain areas earlier may be restricted under the new plan. He said the Bangkok governor and the Interior Ministry want to change regulations relating to road width and construction areas in the new city plan.
According to the Bangkok Post, Supalai plans to spend THB4 billion (US$131.8 million) on new land plots this year and has increased the number of new project launches from 16 projects previously planned to 19 projects, worth THB20 billion (US$659.3 million).
The majority of the new projects will be located in areas which the company deem safe and which are unlikely to experience severe flooding as seen last year. Atip the company is conviced there will be no major flooding this year.
2012 has started out with string sales; Supalai saw THB2 billion worth in sales in January and THB1 billion worth of sales in the first half of February, prompting the company to expect THB6 billion worth of sales in the first quarter and THB18 billion for the whole year, up from THB15 billion in 2011.
One of Supalai’s new projects, the Supalai Wellington condominium located behind the Thailand Cultural Centre, will open for bookings from March 5-11. The project wil comprise 1,002 units in nine 19-storey buildings with unit sizes starting at 47 sqm and prices beginning at THB3 million.
by Property Report
2012 has started out with string sales; Supalai saw THB2 billion worth in sales in January and THB1 billion worth of sales in the first half of February, prompting the company to expect THB6 billion worth of sales in the first quarter and THB18 billion for the whole year, up from THB15 billion in 2011.
One of Supalai’s new projects, the Supalai Wellington condominium located behind the Thailand Cultural Centre, will open for bookings from March 5-11. The project wil comprise 1,002 units in nine 19-storey buildings with unit sizes starting at 47 sqm and prices beginning at THB3 million.
by Property Report
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