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Thai condominium sees strong sales.
Byline: Kanana Katharangsiporn
Dec. 7--Attracted by what it calls the huge, largely untapped market of foreigners seeking to invest in luxury condominiums in Thailand, industrial estate developer Hemaraj Land and Development in late 2003 decided to jump on the residential development bandwagon, starting with its first premier development, The Park Chidlom.
David Nardone, president and chief executive officer of SET-listed Hemaraj, said that while there were a lot of medium- to low-end condominium units available on the market, luxury condominiums were mostly being developed by new entrants with little experience in the local property market.
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Source: HighBeam Research, Thai condominium sees strong sales.