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Projects slow on decreasing demand.

Bangkok Post (Bangkok, Thailand)

| September 08, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Kanana Katharangsiporn

Sep. 8--Construction of new condominium projects in inner-city Bangkok slowed in the second quarter because most developers were deterred by rising building costs and likely slow sales, according to Raimon Land Plc.

"Developers of condominium projects were limited to just listed firms and joint-venture companies," said chief executive Nigel Cornick. "Many developers are focusing on draining their current stock."

He said 1,931 condominium units were launched in inner-city Bangkok during the first half of 2005, down from 3,163 in the second half of 2004. The total value of condo construction decreased to 17.1 ...

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Source: HighBeam Research, Projects slow on decreasing demand.