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Published on November 27, 2007

Corruption allegations against ousted prime minister Thaksin Shinawatra have hit not only his family's businesses, but also those of his relatives, who find that customers are reluctant to do business simply because of the Shinawatra name.

Shin Home marketing and sales director Chayika Wongnapachant has faced adverse pressure in conducting her first real-estate project in Phuket since the Thaksin government was overthrown. However, she maintains an optimistic view and plans new projects next year.

Shin Home launched its first residential-commercial project in Phuket, called Dalaaburi, in the middle of last year, and Chayika, a niece of the ousted prime minister, said 45 per cent of the project's home offices and houses were sold.

She said she chose to develop her first property project in Phuket despite it being a Democrat Party area - and therefore opposed to Thaksin - because her family owned land in the province.

"Some clients have not bought our villas because I'm in the Shinawatra family," she said. "I must deal with many people to run my business, and sometimes I'm faced with nonsense. But I try to ignore it. I tell myself I must focus only on my work."

Chayika said she would not involve herself with people who did not want to do business with her company. She also admitted she had had to work very hard to overcome the problem.

"One day, it will pass," she said.

At present, Dalaaburi has two phases. The first consists of 11 home offices and five houses, while the second, which is under construction, involves 13 villas on a land plot covering 13 rai, she said.

Chayika said the entire project was worth Bt523 million, up from the original budget of Bt420 million, mainly because of increasing raw-material costs and additions to the project's facilities.

"I expect to close sales for the entire project by the end of next year, and I plan for the next project to be in next year's third quarter," she said.

Chayika said she was planning to continue developing land in Phuket, because there was strong demand in the province, as well as on Koh Samui. Although her family owned land in Bangkok, she was not interested in entering the property business in the capital, because of fierce competition from big real-estate companies.

She is now looking for more land in Phuket for new projects but has found that land prices in the province are rising continuously, and because of the high initial cost, her company may have to develop high-end villas.

"Shin Home is a new player and very small compared with others. I'd like to grow step by step," she said.

Nalin Viboonchart

The Nation

Phuket