The Yoma Land, owned by U Thein Wai, has denied involvement in Thai real estate and condo transactions, reported the Business Times.

The Yoma Land said in a statement that it was not involved in the sale of condominiums in Bangkok, Thailand. It is only interested in selling real estate in Myanmar, the report quoted Yoma Land's statement.

At the Yoma Land Myanmar Properties Fair in Thailand, where U Thein Wai himself attended the property sale held in Bangkok, Thailand at the end of May, Star City housing, Pan Hlaing housing and City Loft West housing, owned by Yoma Land, were introduced.

Yoma Land has stated that the real estate sales events related to condominiums in Bangkok are not affiliated with Yoma Land or the group in any way.

In the list of top purchasers of condos in Thailand this quarter, Myanmar nationals have reached number 2. Last year, it stood at No. 3 in the list of the most buyers, but it also rose suddenly.

The State Administration Council (SAC) is taking action against condo buyers from Myanmar in Thailand, and will continue to investigate and take action against other companies and buyers illegally selling condo apartments in foreign countries online. The SAC has issued a notice to the public if they know of such illegal apartment transactions in foreign countries to report to the relevant authorities, announced the SAC’s information team.