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Bangkok Post June 8, 2009

The property developer Chewathai Co Ltd may spend 1 billion baht on about 300 rai of land for development over the next five years, according to executive director Boon Choon Kiat.

The company has a goal of listing on the Stock Exchange of Thailand within five years, supported by its Thai and Singaporean shareholders.

About 90% of the plots, which are being offered by owners and their representatives, would be in prime areas within Greater Bangkok, said Mr Boon.

The plots under consideration vary in size from a small one in Bangkok’s business district to medium-sized plots in developed locations and areas of more than 100 rai on the outskirts. All plots will be assessed for potential to meet market demand at the time of development, said Mr Boon.

The company expects over the next four years to have enough land to develop more than 10 projects a year. “We hope to have at least 20 projects in hand by the time that we are listed on the stock market,” he said.

“We will buy plots based on their potential and prices. We have no policy of buying expensive land and making cuts in other areas as Chewathai sets high standards for all its projects.”