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Mega-projects cast shadow over Southeast Asia property market

Space glut and foreign funding doubts fuel fears of regional real estate bubble

BANGKOK -- Massive building developments are springing up across Southeast Asian skylines, with historic projects underway in Thailand and Indonesia backed by free-flowing cash from overseas.

A central-Bangkok project set for completion in 2026 will be Thailand's biggest-ever private property development with a price tag of 120 billion baht ($3.95 billion). Just outside Jakarta, another massive project is being built for about 278 trillion rupiah ($19.6 billion), the largest real estate project Indonesia has ever seen.

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