Sukhothai condo owners up in arms

Real Estate March 14, 2016 01:00


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DEVELOPERS Grace Ivory Co Ltd and Sathorn Park Co Ltd intend to develop two major projects

The plans came as a big surprise to many co-owners of the original Sukhothai Residences Condominium, as they were unaware of the proposed developments by the developers when they purchased their condominium units.

At the extraordinary general meeting convened by the co-owners on June 14 last year, there was a lot of anger and disappointment with the proposed plans by the developers who showed complete disregard for the grievances and complaints of the co-owners. The co-owners have now decided to “fight back” by appointing additional committee members and replacing the chairman of the Juristic Person Committee (JPC).

According to Dato Tai, a co-owner, they found seven licensing agreements signed by the JPC manager who was appointed by the developers. He had entered into a series of licensing agreements with the developers to give them a “permanent and irrevocable licence” at all times of the day or night and on an exclusive basis, to enter into and pass through the common areas of Sukhothai Residences Condominium to gain access to their proposed development site, rubbing salt into their wounds.

At another extraordinary general meeting convened on August 23, 2015, resolutions from the co-owners to “terminate” the seven licence agreements were adopted with an overwhelming 69.81 per cent votes (27.69 per cent disapproved and 2.50 per cent abstained). Another resolution was also approved to appoint a legal counsel to fight the developers on the projects. The meeting was well attended by co-owners and proxies totalling 74.26 per cent of total votes.

Meanwhile, the developers appeared to continue to push through the projects by having their consultant, Thai Thai Engineers, hold so-called “focus meetings” (instead of public hearings on Environment Impact Assessment).

The co-owners, represented by the JPC, have appointed LS Horizon as legal counsel to “fight” the developers in an effort to “block” access to the development sites through their common areas of the condominium. Another set of legal counsel have also been appointed to fight the developers on the EIA front.

Dato Tai said the peaceful and quiet ambience of Sukhothai Residences will be badly affected if the projects were allowed to proceed, especially for co-owners who had paid a premium amount for condos facing the Northeast direction, as approximately 40 per cent of their view would be blocked by the two massive projects of the developers.

The developers have less than 10 units unsold but account for approximately 19 per cent of the co-owners’ votes as they compromise mainly larger penthouse units. Sukhothai Residences Condomi-mium has 195 units.