Major plans for Bangkok luxury condos

Thailand listed developer Major Development has established a subsidiary company to handle its luxury condominium projects.

The new company, Major Realty, will initially be handling a new condominium development in the Thonglor area of Bangkok which is due to be launched during the second half of the year. Units will be priced at an average of THB150,000 (US$4,600) per square metre.

Company President Suriyon Poolvoralaks expressed confidence in the luxury condominium sector, especially projects which are in the centre of the city close to mass transit routes.

Speaking to The Bangkok Post he added the property tax incentives, which are set to end on June 30, will only create a short term stimulus, and that the property sector would receive only limited benefits.

He added the company plans to develop two or three projects by the end of this year.

The company is responsible for a number of high end condominium developments in Bangkok including Aguston, Wind and Manhattan Chitlom.