Foreigners to be allowed to own 75% of units in condominium projects

18 Sept 07:13 Key points summarised by AI

The Cabinet has assigned the Interior Ministry to amend the Condominium Act, increasing foreign ownership limits in developments from 49% to 75%.
The Land Act will also be amended to allow foreigners to lease land for a single 99-year term, up from the current 50 years with an extension option.
These legislative changes aim to attract foreign investment, address the oversupply of condominium units, and provide greater assurance for long-term foreign investments in Thailand.
Despite increased foreign ownership in condominiums, Thai citizens will retain control over the management and voting rights within these developments.

Lamphun in a New Light

Today 15:02 Key points summarised by AI

Lamphun illuminates its ancient city with two concurrent light festivals: the high-tech VIJIT Thailand @ LAMPHUN and the traditional Hundred Thousand Lantern Festival.
VIJIT Thailand @ LAMPHUN transforms historic landmarks into an outdoor gallery, using projections and multimedia to animate Lamphun's history, including Queen Chamadevi's story.
The Hundred Thousand Lantern Festival, part of Yi Peng, fills temples and streets with countless traditional lanterns, symbolizing Buddhist devotion and personal wishes.
These festivals offer a unique after-dark experience, blending contemporary light art with centuries-old Lanna traditions, connecting visitors to Lamphun's past and faith.