The property developer community has been unsettled by the recent Ashton Asoke saga, wherein the construction permit was withdrawn, prompting lenders to proceed with caution when issuing debt instruments and loans to developers.
AP Thailand’s chief executive, Anuphong Assavabhokhin, explained that it’s becoming increasingly challenging to secure loans as financial institutions grow wary of extending credit to real estate companies due to the consequences of the Ashton Asoke episode. Additionally, the issuance of debt instruments is also expected to become more complex.
Particularly detrimental could be the impact on medium-scale residential developers who have previously issued debt instruments and are close to rolling over their debts, Anuphong noted.
Posing a question to the industry, he suggested…
“If debt roll-overs cannot be…
