Thailand’s National Housing Authority (NHA) has revealed that it will be cooperating with state-run Krungthai Bank to provide financial aid for developers and buyers of real estate.
Tachapol Kanjanakul, the Governor of the NHA, said that the loan program, under its cooperation with Krungthai Bank, will be open to private real estate developers who already have land and are ready to begin projects.
So far, 30 entrepreneurs have shown interest in the loan scheme, according to the Public Relations Department of the Royal Thai Government.
The NHA Governor also said that the agency is targeting to launch up to 150 similar projects throughout the Kingdom, which will require a combined budget of about THB 10 billion.0
Payong Srivanich, the President of Krungthai Bank, pointed out the loan program is aimed at giving real estate developers access to funding for their planned projects, whether they be horizontal or vertical.
Applicants who meet the criteria will be selected by the NHA to receive loans for construction and utility development costs.
He added that once the eligible projects were completed, property buyers would have a chance to apply for loans through Krungthai Bank.