The latest developments from the residents of the Ashton Asoke project, affected by the Central Administrative Court's ruling, came after the judgment on Friday, July 30, 2021, which revoked the construction permit for the Ashton Asoke luxury condominium project, a 50-story building worth 6.481 billion baht, due to the road width being less than 12 meters, violating the Condominium Act of 1979.

         Today, a representative of the residents of Ashton Asoke spoke about the impact through the Facebook fan page: Residents of Ashton Asoke affected by the Central Administrative Court's order. The main points highlighted the consequences following the court's order to revoke the construction permit for Ashton Asoke, which directly affects over 578 families, including around 140 foreign families. The impacts are felt in three areas: mental well-being, life security, and financial issues, and they are seeking clarity on who will be responsible if this project has to be demolished!

More than half of the residents have purchased their units through bank financing, and some are currently preparing to refinance. However, due to the recent events, banks have immediately refused to refinance for the residents.

Regarding life security, it must be acknowledged that after the court's order, the units in the Ashton Asoke project have been frozen. Many view it as an illegal condominium project, making it impossible to conduct transactions, buy, or sell units within the project, which directly affects the residents' confidence.

On the mental aspect, especially for foreign residents, after hearing the news, they admitted to being very shocked. Thai residents have tried to gather information to help explain the situation to their foreign neighbors, but it must be acknowledged that this case has caused foreign co-owners to feel disheartened and lose confidence in purchasing property in Thailand immediately.

 

 

 

            The residents' main concern is about their bank payments, as they are unsure whether their payments will be in vain. They also question whether the maintenance fees will be sufficient to address various issues. In the past, residents have not been informed about the progress of the legal case, leading to a wave of news that prompted residents to vote in favor of hiring legal consultants to represent them in the Ashton Asoke project, to listen to their issues and serve as a voice for the residents. Importantly, they are concerned whether the maintenance fees will be wasted if the Ashton Asoke project is demolished.

            The residents of Ashton Asoke have appealed to government agencies, companies, and society as follows:

1. Who will compensate the residents? This includes short-term measures such as refinancing, restoring confidence in living conditions, and addressing various legal issues in the long term.

2. As citizens affected, if in the future the Supreme Administrative Court orders the revocation of the Ashton Asoke project and its demolition, who will be responsible for the damages incurred? Will it be the government agency or Ananda Development Public Company Limited? The company that residents have transacted with is Ananda MF Asia Asoke Co., Ltd. Will the company still take care of the residents at that time, or will it close down? Additionally, will Ananda set aside provisions for the residents of Ashton Asoke? Because past information indicates that no provisions have been set aside for this matter.

            Nevertheless, the affected residents of Ashton Asoke affirm their respect for the Central Administrative Court's ruling, the law, and correctness. In the future, if the Supreme Administrative Court confirms that the project is illegal and affects the revocation of the building, the residents will still respect the legal ruling.

 


            Meanwhile, Ananda Development Co., Ltd., as the project manager of Ashton Asoke, has held discussions with co-owners to foster understanding and collaboratively find solutions to the issues arising from this incident. The company has communicated the progress of the actions between the company and the co-owners. Initially, the co-owners have established a legal team and a working group to collaborate with the company in seeking justice for the Ashton Asoke project.

            The company acknowledges the distress of co-owners regarding financing, with 348 families using housing loans from 9 financial institutions, totaling nearly 3 billion baht. The company has discussed with the banks that issued these loans to expedite assistance measures for co-owners in both the short and long term, involving 9 banks: Krung Thai Bank, Siam Commercial Bank, Krungsri Bank, UOB Bank, Bangkok Bank, Kasikorn Bank, TMBThanachart Bank, Government Housing Bank, and GSB Bank. Assistance measures for customers seeking retention will consider special interest rates.

Co-owners can contact for further inquiries with project officer Ms. Umphorn Paesomboon at 087-550-3952.