Singaporean private fund Terrasia is set to build a housing development in Chiang Mai, northern Thailand, through a joint venture with Thai developer Srangdee Development Co after previously partnering to develop a condominium development in Bangkok’s Thonburi district.
Srangdee Development’s Managing Director Supakit Raveearamvong said the fund will join the company in building a THB200 million villa project in Chiang Mai.
Company and fund executives are expected to visit the northern province tomorrow to inspect the site in San Kamphaeng district.
The plan is to develop villas priced around THB10 million baht.
The fund is made up of 10 Singaporean individual investors with interest in foreign properties, particularly in Malaysia and Thailand, with a capability to invest up to THB100 million, local media reported.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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