AIG troubles do not hurt property investment in Thailand

 The joint investment project was announced last October, between Major and AIG Global Real Estate, the real estate investment arm of American International Group (AIG), to pioneer the upper-upscale sector in the Thailand property market. The new joint venture, MJAI Development Co ltd will be building a new super-luxury condominium tower in Bangkok's prime location.

  AIG Global Real Estate Investment (Asia) LLC, is a part of AIG Global Real Estate, a group of international real estate companies that actively invests in and manages real estate for clients and AIG member companies in over 50 countries around the world.

 Suriyon is also confident of continued growth in the Thai property sector despite the US financial crisis, citing that low transaction fees and low interest rates are still buoying home purchases.

Suriyon said the company's revenue this year would grow 10 per cent from Bt2.2 billion last year as expected. In the first half, it reaped Bt1.3 billion in revenue while backlog amounts to Bt5 billion, which would be realised this year and next year.