Thai Government Proposes 99-Year Land Leases to Attract Foreign Investors

The Thai government has announced plans to expedite amendments to the Rights Over Leasehold Asset Act in order to extend permitted lease terms for real estate from 30 years to up to 99 years. This initiative aims to stimulate economic growth and attract greater foreign investment. According to the Deputy Minister of Transport, the government is targeting the approval of the amended act by the House of Representatives and its enactment into law by the end of this year.

The criteria for granting 99-year leases under the proposed amendments have not yet been confirmed. However, Bel Roc, as the legal owner of the project land, intends to offer 99-year lease terms to villa buyers if the new law permits such arrangements for residential developments.

Source: Bangkok Biz News