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Thailand to improve regulations on condo management

The Department of Business Development (DBD) of Thailand has revealed its plan to join hands with the Condominium Association in drafting new regulations to raise the management standard in condominiums and housing units to international level.
The Department of Business Development (DBD) of Thailand has revealedits plan to join hands with the Condominium Association in drafting newregulations to raise the management standard in condominiums and housingunits to international level.

According to DBD Director-GeneralPongpan Jiarawiriyipan, the attempt aims at improving the quality oflife of people living in condominiums and housing units throughmanagement and service improvements in those properties.

Newregulations will cover management, general services and allotment ofcommunal zones to prevent efforts to make them individual property.

Pongpansaid the improvement is set to protect local condominium businessoperators against competitions from foreign operators when the ASEANEconomic Community is established next year.

She addedthat currently condominium business operators from the Philippines,Hong Kong and China are trying to enter the market in neighbouringASEAN member countries. This kind of business is rather lucrative in theASEAN region at the moment, she said.

The DirectorGeneral said her department will request a budget of 4-5 million THB tospearhead the improvement, and the new regulations should come intoforce in 2015.-VNA
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