Treasury renames housing project

BANGKOK, Dec 18 (TNA) -- The Treasury Department announced that it will be renaming its "Ban Thanarak Pracharat" housing project to "Thai Homes Project" that will provide the low cost housing for the poor. Patchara Anuatasilpa, the director-general of the Treasury Department, announced that they had decided to rename the housing programme they were sponsoring to 'Thai Homes Project'. The program aims to look after the welfare of low income earners that have passed the recent round of official screening by providing cheap 35,000 - 450,000 baht/unit homes all over the country. Interested parties can apply with the Government Savings Bank, and the Government Housing Bank. Mr Patchara said the Treasury Department was currently formulating guidelines for private contractors to bid for the rights to develop state owned properties placing the highest priority in ensuring a good living environment and a safe and healthy community. One of the main concerns for the Treasury in attracting developers to invest in these low cost housing projects is the small profit margins. As such they were looking at other incentives such as the possibility of granting a 30 year operating lease on these properties. In any event, the details will have to be worked out with the Ministry of Finance first before the proposal is tabled for cabinet approval in January 2018. (TNA)