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Developers take cautious approach

Mount Equity Group Tokyo, Japan > News > Real Estate > Developers take cautious approach

Developers take cautious approach

Several significant projects delayed

An artist's rendition of the Golden Neo Khon Kaen - Bueng Kaen Nakhon project that Frasers Property Thailand launched on May 8. An artist’s rendition of the Golden Neo Khon Kaen – Bueng Kaen Nakhon project that Frasers Property Thailand launched on May 8.

Property developers have become more careful in launching new residential project this year and are focusing on segments where demand is strong as the daily number of Covid-19 cases continues to escalate.

Thongchai Busrapan, chairman of Noble Development Plc, said the company delayed the launch of a new luxury condo project on Wireless Road — The Embassy at Wireless — from the second quarter to the fourth quarter as it is a big project worth 10.7 billion baht.

“This project was earlier planned to launch after the Songkran holidays. But with the recent pandemic, we have to wait and see but the postponement would be no longer than six months or when foreign