Singapore-based property developer Dalvey Developments Ltd plans to invest US$33 million (THB1 billion) to develop condominiums in Thailand over the next year.
Over the past six years, Dalvey Developments has completed three condo projects in Bangkok, which include Haus 23 Ratchada-Lat Phrao in Lat Phrao, Click Condo in the Sukhumvit area and DLV Thonglor 20 in Thonglor district.
“The company is shrugging off political uncertainties, noting that Thailand is a very attractive market with high growth potential. Moreover, property prices remain low when compared to neighbouring countries,” said Noel Goh, Business Development Manager at Dalvey.
The property developer is also planning to venture into hotel and management services in the country’s capital and other provinces.
However, Goh noted that the company’s focus is Thailand’s condo market.
“If we can find good deals, we are willing to allocate another budget up to one billion baht for acquisitions. These investments would be for the long term.”
It is also planning to invest in other Asian countries, with China and Malaysia already marked as candidates for future property projects.
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