Ashton Asoke starts transfers

Ashton Asoke

Property developer Ananda has started transferring ownership of the first units at its Ashton Asoke condominium.

The central Bangkok property had earlier been the subject of issues relating to its building permits and Environmental Impact Assessment, according to media reports.

Finance houses had earlier commented on the situation and issued advice to their clients that hold shares in the listed company.

In a statement to the Stock Exchange of Thailand today, Ananda said that it started to transfer units last Friday, and that this: “… significantly impacts the overall operation of the company.”

The sold-out development has 783 units over 50 floors.

Resale units are already hitting the market, with one prominent property portal listing 375 units for sale.

At the end of morning trading today (Monday), shares in Ananda were up 3.39 percent on the day.

ADDITIONAL: In a later additional statement to the Stock Exchange of Thailand, Ananda said it had: ” …waited for the permission of the Certificate of Building Construction and Use, which was the reason that the Company hasn’t transferred the ownership of the condominium units by the time specified in the first quarter of 2018.”

Ashton Asoke sales

8 Comments

  1. Dear Anon,
    No – not at all. If you check the company’s disclosures to the Stock Exchange of Thailand and the research reports from various finance houses, you will see the company was only granted the required building permits in the middle of this month. It did not have the required permits to enable transfers until then, despite construction being completed in Q4 of 2017. Unlike the one other publisher that reported the original story, we have published this subsequent news to clarify that things are now in order.
    Thank you for your comment.
    Andrew.

  2. If the original story was incorrect, why did you report on it in the first place? This seems like a non-story you exploit for personel gain. In German we call this schande.

  3. Dear Gunther,

    Thank you for your comment. It’s a shame the email address you left with it was not a real one as I’ve attempted to email you.

    I can assure you the original story and the associated facts was correct at the time it was published, and verified by at least three independent sources. It was only two of three days later that the necessary permits were obtained, hence this follow-up story. I would add that no other English media who covered the original story have published a follow-up to confirm the transfers have now started.

    I am also happy to confirm that this website takes to revenue from anyone, and hence I am not sure what you mean by “personal gain”?

    Regardless, thank you for taking the time to comment.

    Andrew – ThailandProperty.News.

  4. You take revenue from anyone? Isn’t that by definition personal gain. You pocket from those you are friends with and criticise others like this poor company who do not pay your toll? Der Ruble muss rollen!

  5. Again Sir, this website takes no revenue from anyone, and hence your accusation of “personal gain” is completely wrong. The fact we do not take revenue means we can publish the facts without any influence based on advertising revenue. At no time has this website asked or received any money from anyone. I’m sorry, but unless you have proof of your worthless suggestions please refrain from making such claims. We report facts – unlike other websites that report what they are paid to report.

  6. You say, and I quote, this website takes revenue from anyone. I would copy and paste this but your website seems to be broken. Please read your comment. Your hostile tone is uncalled. I am simply reporting what you said. This is called a fact.

  7. Gunther,

    I am sorry. That was a typo … in the above comment it should have said “no revenue” and not “to revenue”. Please accept my apologies. I will not edit as it will affect this conversation, but if you look under “Advertising” you will see clearly why we take NO advertising or paid-for advertorials.

    The cut-and-paste option is disabled as we’ve experienced copyright infringements in the past and this is probably the easiest way to prevent that.

    Once again I am sorry for the confusion. To be clear once again, this website takes no revenue from anyone for anything … and we think that’s what makes us unique in terms of Thailand property news in English.

    Thanks again for taking the time to make your feelings known.

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