C.P. Land halts offices, condos
C.P. Land Plc, a property arm of Charoen Pokphand Group, plans to freeze new office and condo projects next year and focus on hotel development targeting local travellers.
President and chief executive Sunthorn Arunanondchai said Thailand’s economic outlook will remain unfavourable in 2021 and could possibly worsen from this year as many people continue to face difficulties earning income.
“Government should help low-income earners boost their income. They should assist farmers and the grassroots segment by helping them have regular income,” he said.
Though there is optimism about a Covid-19 vaccine by mid-2021, Thailand’s economic recovery might not occur until the end of 2022, said Mr Sunthorn.
“In 2021-22, we will scale down our investments and be more