Thai property developer wants to invest in Myanmar

Thai property developer Ananda Development Public Co Ltd wants to expand into Myanmar and is now looking for suitable partners in the country, its officials told Myanmar journalists in Bangkok on October 9.

The company will focus on urban projects in Myanmar and is now exploring the various avenues through which it can invest in the country.

Chanond Ruangkritya, chief executive of Ananda Development, said the company’s strategy of raising living standards through the development of urban and high-quality housing projects that are linked to key transport systems would be an attractive value proposition for potential partners and investors in Myanmar.

Ananda Development also wants to draw more Myanmar investors to the Thai property market. “Bangkok is one of the most attractive cities in Asia for foreign investors and one of the reasons is its successful urban living system, which can be achieved only if it has efficient transportation for residents to live and to work,” Chanond said.

He added that the company’s condominium projects are linked to the Bangkok Mass Transit System, which is attractive to foreign buyers, including those from Myanmar. According to local agents, de,amd for foreign property from Myanmar investors is currently highest in Singapore, followed by Thailand.

That is because Thailand is a viable option for education and healthcare and is also easily accessible for Myanmar residents. In addition, local investors are now able to apply for bank loans to purchase Thai properties, which raises their value, the agents said.

According the property market situation in Myanmar, the condos from Singapore and Thailand are most bought by Myanmar expats and local buyers, while the condos in Thailand have the second highest market demand.

Founded in Thailand in 1999, Ananda Development has completed a total of 60 residential housing projects and sold more than 40,000 condominium units so far. It claims it was the best-selling construction company in the country between 2016 and 2018. Currently, it is also developing five luxury condo projects in collaboration with the Ascott Ltd, a Singapore-headquartered property developer.

Source: Myanmar Times

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