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The boss of one of Thailand´s top property developers is predicting a tough year ahead for small and medium-sized developers in the Kingdom.

Anant Asavabhokin, President of property giant Land & Houses Plc, expects banks will continue their practise of cautious lending, whilst at the same time the larger developers will enjoy financial support at low interest rates.

According to The Bangkok Post Mr. Anant also expects small developers to be disadvantaged by a lack of IT systems. He said his company had invested Bt1 billion to improve its IT infrastructure.

He also expects Thailand´s 10 largest developers to raise their collective market share to 70 per cent within the next three to five years, with support from efficient information technology systems that help them expand customer bases.

“Politics is not going be the key indicator for the Thai economy because it is not going to get any worse than it has been,” he told the daily newspaper. But he expressed some doubt over the sustainability of the growth in the property industry despite signs of strong sales among many developers, citing high unemployment and a reluctant by companies to hire new permanent workers.

SOURCE: Property Report