BANGKOK, 11 April 2014 – The Department of Business Development (DBD) has revealed its plan to join hands with the Thai Condominium Association in drafting new regulations to raise the management standard in condominiums and housing units to the international level.
According to DBD Director-General Pongpan Jiarawiriyipan, the attempt aims at improving the quality of life of people living in condominiums and housing units through improvements of the management and service in those properties. New regulations will cover management, general services and allotment of communal zones to prevent efforts to make them individual property.
Miss Pongpan said the improvement is set to protect local condominium business operators against competitions from foreign operators when the ASEAN Economic Community becomes concrete next year. Miss Pongpan added currently condominium business operators from the Philippines, Hong Kong and China are trying to penetrate the market in neighboring ASEAN member countries. She said this kind of business is rather lucrative in the ASEAN region at the moment.
The Director General said her department would request a budget of 4-5 million baht to spearhead the improvement, and the new regulations should be done in 2015.