Injunction sought to stop Areeya project

A Space buyers claim promises are not met

Residents of the a Space Asok-Ratchada condominium developed by SET-listed Areeya Property Plc will file a court case seeking a halt to the development of a 39-storey condo in front of their homes.

The site, where residents were told a community mall was planned, and a roof garden are at heart of the dispute.

They will also file complaints with the Office of the Consumer Protection Board accusing the company of not delivering units with promised facilities, furniture and household items as shown in advertisements. The four-phase project near Bangkok‘s Rama IX intersection has about 2,000 units.

Areeya chief executive Wisit Laohapoonrungsee said the company had to go ahead with its plan to develop the new high-end project to upgrade the overall location. He said it was willing to fight the case in the court.Jirawit Dangnui, chairman of the residents’ group for the FG phase, said residents wanted the company to adhere to a promise to develop a commercial zone without the construction of the high-rise A Attitude condo.

They say they were told by sales representatives that the empty area at the front of the condo would be developed into a small community mall with a maximum height of four storeys.

“If we had known from the beginning that there would be a high-rise here, we would have had second thoughts,” said Mr Jirawit.

He said the roof gardens on all of the buildings were far short of expectation. It also did not build a covered path to link the buildings, parking areas or shops advertised as places for residents to have coffee or relax. “It does not care how residents will live without necessary facilities such as a convenience store, laundry or food shops,” he said.

Mr Wisit said the company realised a large retail mall would be developed at the Rama IX intersection and it could not compete with those big players.

However, he said the company plans to provide a commercial area. There will be 300 to 400 square metres of retail space. A 7-Eleven store will occupy 200 sq m and the rest will be taken up by a coffee shop, laundry and other units. “This should be done within two to three months. We found that the earlier proposed box-shop concept was impractical, so we decided to put those facilities in one zone,” Mr Wisit said.

The company will soon give cash to three juristic persons to build a covered path. It will also allocate more funds to improve the roof gardens.

In June, Areeya was ordered by the Civil Court to pay 34 residents of Areeya Mandarina Ratchada 300,000 baht each in compensation for changing the project’s development plan to a 485-unit condominium instead of townhomes. The company will seek an appeal.

Areeya shares closed unchanged yesterday on the SET at 3.74 baht in trade worth 834,000 baht.

Source: http://www.bangkokpost.com/business/economics/200119/injunction-sought-to-stop-areeya-project