Floods call for revision of home-project designs
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Property firms need to revise their designs in order to better protect residential projects from the risk of flooding, even though such a move would drive construction costs upward by 5 to 10 per cent, experts said yesterday.
Meanwhile, land prices in some locations hard hit by the current floods may fall following a drop in demand in those areas.
Pattima Jirapaet, managing director of Colliers International (Thailand), said the severe flooding would directly affect industrial-estate developers, as many manufacturers would opt to locate new plants at sites that were not susceptible to inundation.
Land prices at industrial estates subject to flooding could fall by between 5 and 10 per cent because demand for the establishment of new plants at those sites would fall, he said.
“Some companies that develop industrial estates outside flood areas have said they are getting new customers that plan to move from flood-prone areas to a new location,” he added.
LPN Development managing director Opas Sripayak said that following this bout of flooding, property firms would need to revise their residential project development by placing more emphasis on infrastructure that would protect facilities during inundation.
“Although we develop condominium projects, we have to revise our project design to protect a building’s infrastructure, such as the machinery room,” he said.
Suriya Wannabuit, Sansiri’s executive vice president project management and marketing department, said the company would change its land-fill benchmark from road height based on the water level in canals, to one based on sea level.
