Browsing Tag
pattaya
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Thailand Property – Pattaya reforms foreign ownership to get ready for AEC
Pattaya is forced to expand their beaches to accomodate the increase in tourists With Asean Economic (AEC) forming in 2015, Pattaya officials are buckling down on foreign ownership in condominium projects from 70 per cent to 49 per cent. Deputy mayor, Ronakit Ekasingh said, “Pattaya needs to get ready for the AEC. If we wait until 2015, it may be too late as other countries in Asean are now preparing for the single regional common market.” As Pattaya is a special administrative area, Ekasingh’s hope is for Pattaya to lead the way in promoting investment in Thailand. Additionally to Pattaya being a tourist destination, Phuket is as well which is why a pilot programme should be instilled as both cities have their own administrative authorities