Thailand: Southern developer expands into Malaysia
|
A property developer based in Thailand’s southern province Pattani is planning to develop a condominium and community mall complex in Malaysia in mid-2013, according to The Nation.
DRS Property Co plans to spend THB2 billion (US$64.7 million) on the project which it is considering developing with a Malaysian firm. Chief executive officer Ibrorheng Cheali told The Nation that a Malaysian property developer was interested in joining in on the project which will begin construction next year.
A 20 rai (3.2 hectares) plot of land outside Kuala Lumpur has been chosen for the development which will become a mixed-use development with condominiums and a community mall.
According to The Nation, Ibrorheng said DRS want to expand into Malaysia because it is close to Pattani and the ASEAN Economic Community, set to take effect in 2015 provides a good incentive for expanding into Malaysia where the company has relations with local investors.
