The recently elected President of The Thai Condominium Association (TCA) is suggesting proposals that could see exceptions for developments with construction areas of less than 10,000 sqm from obtaining an Environmental Impact Assessment (EIA).
Prasert Taedullayasatit said the proposal, if approved, would help cut the number of EIAs and the time it took for EIAs to be considered. The TCA is reportedly drafting a checklist with clear regulations for condo projects with total construction area of less than 10,000 sqm.
Parset told The Bangkok Post: "With this checklist, condo projects with a total construction area of not more than 10,000 sqm can apply for a construction permit without an EIA. This will reduce waiting time for EIA approval as well as construction time."
A spokesperson for Thailand’s Housing Building Association said there were always around 300 projects under consideration for EIP approval at any one time, with most projects located in Bangkok.
Due to time delays for approval, some developers go ahead with project launches ahead of receiving their EIA approval, meaning possible substantial changes or even total scrapping of developments.
Developers now face additional hurdles when obtaining project financing as many financial institutions are making the granting of a EIA mandatory as part of the financial approval process.
Many banks now require a condo project to obtain EIA approval before any loan can be considered.
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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