Ananda sees Thai property market starting to pick-up, announces launch of 6 new projects worth 21 billion Baht

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Ananda sees Thai property market starting to pick-up, announces launch of 6 new projects worth 21 billion Baht

Thailand’s property market has started to see recovery and many of the developers are starting to plan major project launches as economy starts to see recovery.

As part of the move Thailand’s real estate developers such as Ananda Development Plc (ANAN) decided to announce that it was looking to launch as many as 6 projects during the 2nd half of the year that would be worth more than 21 billion Baht.

The bold move to launch so many projects by Ananda comes as the company starts to become more confident about the sales and transfer, thanks to the recovery in the economy and measures undertaken by the government to help the real-estate sector.

Chanon Ruangkritaya, Chief Executive Officer of Ananda, said that the overall situation of the country was beginning to have a better outlook and the Thai economy was likely to recover continuously.

Therefore, Ananda said that it will look to launch new projects as the country’s economy is expected to continue to show positive growth. The country’s gross domestic product (GDP) is expected to grow by 3.3% and 4.2% in 2022 and 2023 respectively.

In addition, the public and private sectors have worked together to help facilitate buying and selling, such as reducing the transfer of ownership and mortgage costs for both new and older homes.

To further boost the industry, the Bank of Thailand’s (BoT) temporary easing of the loan-to-value (LTV) restrictions, has helped consumers make decisions easier.

“During the 2nd half of the year 2022, Ananda is preparing to move forward with full business plans. In order to create products that meet the needs of customers and generate sales to meet the goals set with the launch and development of new projects to cover all target groups and in all locations in Bangkok,” Chanon said.

He added that Ananda is confident that customer confidence will continue to improve. and urban housing demand is starting to see a comeback to become active once again.

Prasert Taedullaysatit, Chief Executive Officer Real estate business unit of ANAN said the company continues to adapt to all situations by preparing a plan to support demand that will return in the second half of this year.

He said that ANAN will 6 new projects as planned, worth more than 21 billion baht, consisting of Coco Park Project, Culture Thonglor Project, Culture Chula Project, Ideo Ramkhamhaeng Project – Lamsalee Station, Anda Ratchapruek Project – Chaengwattana and the Artel Asoke-Rama 9 project.

He added that Ananda was confident that they will be able to present the difference and meet the lifestyle of urban consumers directly and clearly.