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Thailand - January 2008
Charn Issara set for bumper land buy
Thailand Property Report
Bangkok-based property giant Charn Issara Development
has revealed that it plans to buy up Bt400 million worth
of land in key tourist locations around Thailand.
The money will be spend on sites in Phuket, Hua Hin,
Cha-am, Krabi and Phang Nga over the next 12 months. The
company then plans to develop the sought-after locations
into residential units and resorts.
Although the development is aimed at foreign investors,
Charn Issara managing director Songkran Issra said unit
sale were not expected to pose legal problems: "Our
foreign customers buy under a 30-year lease," he
explained.
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