Wealthy Thais keep property developers busy

Bangkok

THAI property developers are raising record funds in the domestic bond market to finance high-end residential projects in a stumbling economy that appears to have hurt all but the affluent.

Developers issued 54.2 billion baht (S$2.1 billion) of bonds in the first half of this year - a record for a six-month period and equal to 74 per cent of the debt sold by developers for the whole of 2014, according to the Thai Bond Market Association.