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| • EXCH RATES |
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Baht/$ 33.35/39
Bid/Ask
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GOLD |
14,650
- 50
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KANANA KATHARANGSIPORN
The property developer Siamnuwat Co Ltd is delaying the launch of a new condominium in the Phaya Thai area pending new planning regulations for the areas surrounding Sa Prathum Palace, according to general manager Tharathorn Aksaranuwat.
The company's site is located within a 300-metre radius of the palace. ''In a worst case, we may be able to develop [a condominium with a height] of only 23 metres or eight storeys,'' Mr Tharathorn said.
The launch is now scheduled for February 2009 but construction costs might be 10% higher by then as builders would need to comply with new rules such as the use of non-glare glass, he said.
Reflections from the windows of a high-rise near the palace had drawn complaints earlier this year, prompting the Bangkok Metropolitan Authority (BMA) to look at new rules.
''If we're lucky, we could develop 30 storeys, but construction materials must comply with the new rules, which would make our selling prices start from 90,000 baht per square metre,'' he said.
Under an earlier planning draft that was rejected, any new construction and renovation of some buildings in a 500-metre radius of Sa Prathum Palace would not be allowed while new buildings' heights would be limited.
Siamnuwat Co last week launched Wish
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