Thailand’s Treasury Department (TD) has signed an agreement with the Government Housing Bank and the Government Savings Bank to facilitate the construction of housing projects to be built on state-owned land under the ‘State of the People’, or Pracharat policy.
TD Director General Chakkrit Parapuntakul said the agreement is aimed at providing loans to property developers to build affordable homes for low income earners.
The move is also in line with the Government’s policy to help low-income people own their first home, and to provide housing units for civil servants to stay on a temporary basis.
Two housing schemes will be built under the cooperation between the Treasury Department and the two Government banks. One of the projects consists of condominiums to be rented to civil servants on a five-year basis at the rate of THB 4,000 per month.
The other project consists of detached houses, terrace houses and condominiums for the general public. A list of developers is expected to be completed no later than July.
