Property firms launch recovery campaigns

For example, Land &Houses has joined hands with Siam Commercial Bank to provide loans totalling Bt500 million at zero interest for the first year to customers who need to renovate their flood-hit residences.  

The company’s senior vice president, Adisorn Nanthanarapool, said the company will subsidise interest for the first year. 

“We have tried to help our customers during the floods by installing pumps, setting up sandbags, etc to protect our projects. But some of our projects were still inundated as a result we have continued to help our customers to renovate their residences by enabling them to get loans at zero interest from Siam Commercial Bank. We will offer total loans of Bt500 million to cover all our customers who were hit by the floods,” he said.

Loan applications are being received by Siam Commercial Bank since December 17.

Meanwhile, the company has set up a team to help its customers clean up their residences, and the electricity and water systems when they return to their homes, he said.

Sansiri has joined 10 strategic partners to clean up its residential projects and has set aside a Bt50-million budget to protect its 170 residential projects in Bangkok and the suburbs. This campaign will continue till January 2012.

Asian Property Development has set aside a budget of Bt12 million for the AP Home Recovery campaign. This campaign will offer to paint residences, and renovate gardens for its flood-hit customers at The City Rama 5-Ratchapruk 2 and The Centro Rattanathibeth.