Emerald Group says it will continue with its developments
(Translated from Thai)
A press conference held at Dara Hotel on Saturday afternoon (May 19) was hosted by Emeral Development Group’s Sawit ‘Mai’ Ketroj.
Mr Sawit says, “News about Phuket Future Group Co.,Ltd. real estate projects, which is one of companies in Emerald Group located at Kalim Patong, has damaged us. The news has affected the Phuket real estate business and investors have lost confidence.”
“Now there are five companies in the group which have invested in condominiums and real estate in Phuket for more than 6 billion baht.”
“These companies are Kathu Golf Condo project by Emerald Development Group Co.,Ltd and The Emerald Terrace Condo Patong by Phuket Future Development Co.,Ltd which have now completed the constructions.”
“The Emerald – Central project by Phuket Capital Real Estate Co.,Ltd, The Emerald City Life Condo Patong by the Emerald company which is now under construction. Emerald Nirvana 1 and 2 , Nirvana Lux and Jade Villa which are now under construction, are waiting for construction license.
“Only projects of Phuket Future Group Co.,Ltd. are the ones that have problems. Other projects are continuing. We have accounting documents that can be prove the situation about the Phuket Future Group.”
“The project cannot build following the schedule because it is on a 36 rai plot of land on a steep hill. We need to be careful about engineering and architecture work, especially for the safety. The project completion schedule has been updated three times. The project is scheduled to finish last year. Due to the Environmental Impact Assessment (EIA). the construction is expected to be finished at the end of next year.”
“We have informed our customers about the problems. There are now 185 current customers, 98 customers cancelled their contracts. Some of them have been refunded. We are taking care of our customers as much as we can.”
“We are sure that our business will reach its target as we do not have financial problems now. We also have international alliances for investment.”
“About an issue that has been claimed that we have sold same condominium units to customers, twice, this is not true. The units will be sold to another customer when the old customer cancels the contract. We cannot do that to customers.”
About a condominium in Ao Nang, Sawait says the project was built in cooperation with a company who owns the land. The investment was later cancelled, but the owner of the land continue with the project.
