SET-listed developer Supalai Plc (SPALI) and its Australian real estate partner Satterley Property Group have made plans to develop two single house projects in Melbourne.
Chief executive Prateep Tangmatitham said Australia was an attractive country for property development investment as it has legal transparency and no corruption. There is plenty of property-related information, which helps property investment planning.
"Australia's economy is very healthy with a stable currency. There are incentives for first-time homebuyers, which boost housing demand. Also, the country is not far from Thailand," he said.
Supalai finalised the deal with the 34-year-old Australian firm earlier this month and set up two joint venture companies where it holds 50% and 25%, respectively, with the rest held by the partner.