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Plus fixes height problem, begins transfer to owners

Wednesday, 17 September 2008

source: Bangkok Post Sept 16 2008 The anxious buyers of most of Plus Property Co's mid-priced condominiums will soon be transferred ownership as the company has finished renovating its buildings to comply with the height requirements under the Building Control Act. Chief executive Mayta Chanchamcharat said the company had already started transferring the units of its Condo One X Sukhumvit 26 to buyers. Another five projects ready to change hands this month include Condo One Lat Phrao 15, Thong Lor Station, Sukhumvit 52, Siam and Soho. Four more projects to be ready next month are Condo One Lat Phrao 18, Sukhumvit 67, Sathorn and Condo One X Sathorn-Narathiwat. The company plans to transfer Condo One Lat Phrao Station and Condo One Ratchada-Lat Phrao within this year. Altogether under the Condo One brand, the company will transfer 12 projects with 1,300 units worth 3.8 billion baht within this year. Plus Property also has two buildings under the My Condo brand in Sukhumvit 103 and Sathorn-Taksin, with a total of 390 units worth 900 million baht that would be transferred to buyers from next month. Mr Mayta said Plus Property would realise total revenue of 4.7 billion from transferring 1,890 units to buyers this year, helping to its target for this year. Plus Property earlier developed low-rise condominium buildings whose maximum height is limited by law at 23 metres. Since its buildings exceeded the limit, it needed to remove the top floors to comply with the law.

 

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