The Lai Thai Luxury Apartments is pleased to announce that the project has been granted approval from the Thai Office of Natural Resources and Environmental Policy and Planning, following a lengthy Environmental Impact Assessment (EIA).
Thailand recently implemented tough new EIA regulations, that went into effect on 1 July 2011. Any project with a surface area of more than 4000 square metres or comprising more than 80 units must now comply with rules designed to limit its environmental and social impact. Assessment criteria include building height, green area and waste management.
The regulations specify that buildings must be no more than 4 stories in height, and must have at least 40% green space. A minimum number of parking spaces is required, and traffic flow must provide access for emergency vehicles. Proper security must be provided and, in the case of The Lai Thai, 30 CCTV cameras installed throughout the project. Water drainage and erosion studies must be completed. Waste treatment is strictly regulated and approval of water and electrical needs is required from the Provincial authorites. The project must also be wheelchair accessible.
The EIA process requires several inspections and can take up to one year for approval. Now that clearance has been given to The Lai Thai, work on the infrastructure can begin, with the main piling work due to start in April.
The project has a completion date scheduled for the 3rd quarter of 2013. Sales are strong, with buyers from both within Thailand and across the globe – USA, Holland, Italy, UK and Australia – and are expected to rise following the EIA approval, as investors can take advantage of pre-construction prices with this additional layer of security.
