Top Thailand property developer Pruksa is fighting corruption in the real estate sector.
Its website includes a “whistleblowing” page in Thai and English that encourages reporting of possible incidents of corruption.
The website encourages consumers to report risky behavior, provide clues about corrupt behavior, bribery, nepotism and other behavior associated with corruption within the company.
Reports can be made anonymously, and the company says any complains will be reported to the Chairman and Independent Director, Executive Vice President, the Chairman of its Corporate Governance Committee and the Chairman of the Audit Committee.
It also says it guarantees confidentially.
Stock Exchange of Thailand-listed Pruksa was responsible for 12 percent of all newly launched condominiums in the Greater Bangkok region during the first seven months of 2018 according to Thailand’s Agency for Real Estate Affairs.
Its 25 new projects were more than double second-ranked Sansiri.
It is likely that other Stock Exchange of Thailand-listed developers will also treat allegations of corruption seriously, but Pruksa’s approach appears to be the highest profile initiative so far.
This is something that everyone working in Thailand’s property and real estate sector should support and ideally adopt themselves.
The only winners will be Thailand’s property buyers and that can only be good for improved confidence.
Pruksa was approached for a comment for this story but did not reply before publication.