After year-long investment freeze, Thai developer resumes projects in 09

After suspending its investment in 2008 due to the economic crunch, one of the leading property developers in Thailand will resume its projects in 2009.

SET-listed property developer L.P.N. Development Plc will launch anytime this year a Bt2.5 billion condominium project on Ram Intra Road, comprising over 2,500 units.

LPN head Tikhamporn Plengsiruk said due to the economic slowdown which affected various industrious around the world the company decided to focus on smaller, more affordable units, targeting customers at the lower end of the market this year.

Tikhamporn revealed the units at the new Condo Town Ram Intra-Nawamin project start at Bt699, 000, for a floor size of 25sqm.

He said they decided to go slow on their investment since they sense that banks might not support their project’s finance and buyer’s home loans if they decide to infuse on big projects in this time of financial crisis.

Furthermore, Tikhamporn they decided to resume their investment this year since the Thai and other markets around the world are starting to recover from the economic slowdown.