Thailand Investment MarketView Q3 2009

There were two notable building transactions in the third quarter of 2009. Bangkok Broadcasting & Television Co. Ltd acquired 28 units at the Star Estate @ Rama III condominium project from Eastern Star Real Estate Public Co. Ltd for THB 124,594,047. In addition Bliss-Tel Public Co. Ltd paid THB 154,500,000 to AngKet Holding Co. Ltd for 250 units at their AngKet condominium project in Pattaya. Both of these transactions were in recently completed buildings from developers clearing unsold inventory.

Q3 saw two major land transactions, both by Pacific Assets Public Co. Ltd and with a total value of over THB 1.2 billion. Pacific Assets bought 1,766 square wah of land in the Sathorn area from the Maternity & Child Welfare Foundation for THB 750 million. They also purchased 10 parcels of land totaling 4,851 square wah on Rama Indra Road.

Property firms including Preuksa Real Estate, Land and Houses, Sansiri, LPN Development, Noble Development and Asian Property Development have increased their investment budgets for land acquisition between now and the end of the year. They intend to develop residential projects next year and in 2011, believing that the economic climate will be more positive in 2010.