Major lures homebuyers with special loan offer

The credit extension is up to 95 per cent of the unit's price while the interest rate will be 25-50 basis points lower than market rates, CEO Suriyon Poolvaralaks said yesterday.

The partners are Bangkok Bank, Siam City Bank, Siam Commercial Bank, TMB Bank, Bank of Ayudhya and Krung Thai Bank.

"Although demand for luxury residences doesn't show signs of dropping, it has the tendency to stay stable when almost all home-buyers are concerned about the global economy recession.

"As a result both domestic and foreign buyers seem to be delaying their decision to buy. Our new marketing campaign will help to speed up our sales from the end of this year till next year," he said.

The company will continue to launch two or three residential projects next year but may downsize them following the needs of the market, he said.

Major Development is one of the developers of luxury condominium projects.

It earned a net profit of Bt349 million on Bt1.9 billion of revenue in the first nine months of this year.