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Research Centre
14 Sep 09
Thailand Investment MarketView Q2 2009
Thailand Investment MarketView Q2 2009
Q2 2009 has seen a disappointing number of transactions, one however is worthy of noting, that being the purchase, by LPN Development Plc. of three development sites. The total value was approximately THB 700 million for three land plots in different locations.
With regard to whole building sales in Q2 2009 there was no activity. The major reason for the lack of building sales, is that almost nothing is being offered for sale.
The latest interest rate cut occurred in April, the key policy rate is now 1.25%. The numerous repurchase rate cuts since December of 2008, four within a six month period, mean that many investors are seeking alternative investments to bank deposits.
The only new significant foreign investment in a development project this year was Israel’s Industrial Building Corp. a joint venture with Pace Developments to build the Mahanakorn Ritz Carlton Residences leasehold condominium project.
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