NHA board names choice for new chief

The existing director-general, Vitoon Chiasakul, announced his resignation in January ahead of his retirement in September. Krisda is currently deputy director-general.
The first priority of the new director-general is to maintain business growth and create business transparency for the long term, NHA chairman Suchatvee Suwansawat said.
Meanwhile, the NHA board also approved an investment plan to develop residential projects close to Greater Bangkok’s mass-transit system. The first project is a condominium complex near Bang Yai Station of the MRT Purple Line from Bang Sue. Construction will start in 2015, when the Purple Line is to be in operation.
The next location is Bang Ping Station on the planned extension of the BTS Skytrain’s Silom Line from Bearing to Samut Prakan.
These projects are part of the NHA’s business plan to join with state agencies to develop residential projects to support the demand in the market by offering reasonable prices for home-buyers, he said.
The authority may undertake these projects by setting up a joint-venture development firm or it may use the Public Private Partnership Act. This will depend on determination of the best way to develop the projects, he said.
He added that the agency was waiting for the National Economic and Social Development Board (NESDB) to approve its business plan to develop 96 residential projects worth Bt50.2 billion between this year and 2016.
Under that plan, 22 projects with 7,812 units were to be developed this year, 30 projects with 14,218 units next year, and the rest in 2015 and 2016. However, the plan has been delayed because the NESDB has not yet approved it.
“We are ready to begin developing residential projects according to our plan when the NESDB gives its approval,” Suchatvee said.
Despite the delay, the NHA showed net profit of more than Bt100 million in the first half of this fiscal year (October 2012-March 2013), he said.
According to its investment plan, the authority is considering an issue of securitised bonds worth Bt10 billion after its financial advisers, HSBC and Bangkok Bank, have completed their study of the proposal. The bonds may be issued this year or next, pending approval by the NHA board and the Cabinet.
NHA has also studied the demand for homes resulting from people’s relocation from rivers and canals in Greater Bangkok according to the government’s water-management plan. The study indicates demand for about 70,000-80,000 residential units.
“If the government decides to request relocations, we are ready to develop homes to support this demand,” Suchatvee said.