FPT shifts focus to low-rise inventory

SET-listed Frasers Property Thailand (FPT) plans to revise its business plan for 2024 and launch only one low-rise condo project in the fourth quarter this year, focusing instead on its inventory of low-rise houses because of negative factors.

Somboon Wasinchutchawal, chief financial officer, said the economy remains fragile because of rising interest rates, which affect both the company and homebuyers, as well as higher household debt.

“The rejection rate for home loan applications remains high and potential customers find it increasingly difficult to make decisions,” he said. “With the renewed conflict between Israel and Palestine, the market has become more challenging.”

The upward trend in…