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August 1, 2010

Phuket Gains More Retail with K Plaza

By Chutima Sidasathia and Alan Morison

Wednesday, July 28, 2010
ONE well-known resort is branching into retail in a big way on Phuket with a project that will bring the Kata Karon region its first real shopping mall.

Kata Beach Resort is the developer backing K Plaza, on the road behind Club Med at Kata beach, not far from the parent resort on the seafront.

The retail centre will have space for 117 shops and perhaps give the Kata-Karon region its first real shopping heart. So far, the region has had no shopping mall, just the existing strip rows of stores and bars.

The development will take out three rai, leaving 10 rai for a possible condo development or a small resort project.

More construction is going on down the road in front of the Ibis Kata Resort, and not far away there’s another unusual building project on a hillside that will require an exceptionally steep climb.

K Plaza is scheduled to open in October, along with the Centara Grand Plaza at the northern end of Karon beach.


Phuket ‘Will Keep 80 Metre Height Limit’

By Chutima Sidasathian

Wednesday, July 28, 2010
SOME properties on Phuket have been sold at increased prices in the belief that the island-wide 80-metre limit on building will expire on September 30, the head of Phuket’s Natural Resources and Environment Department, Ong-art Chanachanmongkol, said today.

However, regulations from October 1 will retain the limit on building above 80 metres on Phuket, he said. The regulations are subject to review every two years, he said.

And in a change that will tighten the property industry on Phuket, the new regulations are expected to oblige all consultants to register and be tested before being licensed to apply environmental assessments and impact studies.

”The law will remain unchanged from October 1 in regard to the 80-metre limit,” Khun Ong-art said. ”If anything, there will be more protection for Phuket’s natural environment.”

Real estate speculators are inclined to believe that once the pressure on land below 80 metres produces price rises that make sales prohibitive, the limit, imposed to protect Phuket’s natural environment, could be lifted to 100 metres or 120 metres, or be removed entirely.

Khun Ong-art says the 80-metre limit is unlikely to ever be lifted. He believes local council authorities need to be empowered to prevent more breaches of the height limit.

At present, the local authorities have to inform police about breaches of the law. Local authority directors should be given the power to stop illegal construction and make arrests, Khun Ong-art said.


July 31, 2010

New Energy Conservation Guidelines Issued for Hotels and Condos

A new Ministerial Regulation has been issued by the Thai Ministry of Energy which will take come into law in June of this year. Amongst those affected include new hotel and condo projects who apply post June which cover new or renovated buildings with a total GFA (gross floor area of 2000 square meters. Standard are being set out to cover electrical power for lighting, air conditioning and water heating, thermal transfer and overall energy consumption.

Exemptions for renewable energy are being provided along with deductions on consumption. The legal firm of Meyer Brown in Bangkok has issued a circular on this and the Ministry of Energy is providing implementing guidelines. Currently the implementation is under consideration if this will fall into the construction permit process and co-exist with the Building Control Act which covers statutory construction permits.


January 13, 2010

Freehold Vs Leasehold in Thailand

Owning a property in Thailand may be a dream for many people, but there are certain restrictions for non-Thai nationals when it comes to property and land ownership. We will outline some of the restrictions and requirements but it is highly recommended that you seek proper legal advice before entering into any property or land purchases in Thailand.

Differences between Leasehold and Freehold property?

Leasehold means that the buyer is leasing the property from the land owner for a pre-determined period of time normally valid up to 30 years. Renewal for a further 30 years is at the discretion of the lease holder (land owner). At the end of each term, both parties must register the renewal with the Land Department and pay government fees, including stamp duty. This gives the lessee “ownership” of the land. The downside is that the lesser may not wish to renew or the law may change to your detriment in the future. Any capital you invest into leased property is therefore liable to be lost. Property owned by the Crown Property Bureau is always Leasehold. Some private property owners may also sell their property with a leasehold title deed.

Freehold foreigners can buy and own freehold condominiums, giving you full ownership rights purchasers, including the right to sell or lease the property and to develop the property within the guidelines under Thai law.

How can a foreigner own a House and Land in Thailand?

A foreigner who invests 40 million baht or more in a Thai Company is eligible to purchase land and a house at the size of maximum 400 square wah maximum total land area.(1 square wah = 4 square meters). A foreigner who invests with a Thai registered company can purchase land and house with unlimited size and amount of investment through company registered name. (more…)


January 12, 2010

Who owns what?

Mon 4 Jan 2010
One of the most memorable pieces of news in 2009 appeared on 24 August when The Bangkok Post announced that ‘Foreigners own 90% of Phuket beach land”. The story created a backlash from Thai’s and expats. Numerous investigations and allegations followed but are we any closer to understanding the law with regard to foreign land ownership?

The Phuket Post interviewed the chief of the Phuket Land Office, Paithoon Lerdkrai, to find out how much or little we actually know.

What do you think of the the current land legislation?

The law was carefully made to be as tight as possible so that it couldn’t be abused, yet still people find ways to dodge and manipulate it. Unfortunately the law can not cover this.

Would you like to see anything changed?

The law cannot be changed that easy, for now I do not see any way to change the law. (more…)

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