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.”