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Top Thailand Property News Of The Week - 18 September 2017

22 Sep 2017

The top residential and commercial real estate news of the week - 18 September 2017

CBRE’s weekly property news snapshot features the latest residential and commercial real estate stories in Thailand and elsewhere that you cannot afford to miss - be it regarding residential, industrial, retail, office, hotel, land, or investment property

Singapore trust in S$2 bn tower deal
The Nation
Capitaland Commercial Trust (CCT) is acquiring Asia Square Tower 2 in Singapore’s showcase Marina Bay precinct from US private equity giant BlackRock for S$2.09 billion (B51.2 billion), or S$2,689 per square foot.

Pace reports to SET loss of subsidiaries
Bangkok Post
Pace Development Corporation Plc (PACE) has clarified to the Stock Exchange of Thailand (SET) that it is no longer in control of two subsidiaries through a special resolution from the company's shareholders' meeting.

CPN's Korat mall to open in November
Bangkok Post
Central Pattana Plc (CPN), the retail property development arm of Central Group, is scheduled to open CentralPlaza Nakhonratchasima on Nov 3, the company's 31st shopping mall.

CP Land joint venture for Rayong project
Bangkok Post
CP Land Plc, the property arm of Charoen Pokphand Group, will partner with one of China's largest construction firms, Guangxi Construction Engineering Group, to jointly develop an industrial estate in Rayong by the end of the year with an initial spending of 10 billion baht.

Ticon aims to establish Thailand's largest REIT
Bangkok Post
Ticon Industrial Connection Plc (TICON), a SET-listed developer of ready-made factories and warehouses for rent, aims to merge the group's three property funds into the country's largest real estate investment trust (REIT) this year, with combined asset value of 32 billion baht.

TCC confident on EEC investment rush
The Nation
The Thai Chamber of Commerce (TCC) says it is confident that the Eastern Economic Corridor (EEC) will drive the economy forward and expects government outlays of at least Bt1.5 trillion from 2018-22 to spur investments in the development zone by domestic and foreign companies.

Luxury Condo Demand Insatiable
Bangkok Post
Developers can’t build high-end condominiums fast enough, as real buyers and investors gambling on the scarcity of inner city land gobble up units. High-end condominium prices keep soaring as plots of land in prime locations become scarcer and many developers diversify into the luxury segment to escape the slowdown in the lower-end market.

Fresh carrot to stir interest in ailing SEZs
Bangkok Post
The Treasury Department will offer private investors a waiver on rental fees for state land in special economic zones (SEZs) near neighbouring countries for up to two years if they develop the rented areas within one year of signing the contracts.

Chamber predicts B10bn Pattaya investment
Bangkok Post
Thailand's private companies are set to pour up to 10 billion baht into improving and developing tourism-related businesses in Pattaya to tap benefits from the government's flagship Eastern Economic Corridor (EEC), says the Thai Chamber of Commerce (TCC).

Boots straps up for expansion in Asia to target middle class
Bangkok Post
Walgreens Boots Alliance (WBA), the owner of Boots health and beauty chains, says it will continue expanding its business in Asia and Thailand because of the growing middle class. On the heels of Boots Thailand's 20th anniversary, co-chief operating officer Ornella Barra said Asia, particularly China, South Korea and Thailand, are integral to the company's expansion plans.

Supalai buys old Australian embassy site
Bangkok Post
SET-listed developer Supalai Plc (SPALI) plans to develop a mixed-use project worth a combined 17 billion baht at the Australian embassy site on Sathon Road after successfully acquiring the plot for 1.45 million baht per square wah.

Toys ‘R’ Us seeks bankruptcy in the US
Bangkok Post
Wilmington, Delaware, US: The flagship American division of Toys “R” Us Inc filed for bankruptcy as the retailer, loaded with debt in a buyout more than a decade ago, failed to keep consumers from abandoning its stores for the lower prices and convenience of online shopping.

In the shadow of Chinese e-commerce giants
Bangkok Post
As Chinese e-commerce giants and Alibaba brace for a prolonged war for market share, local firms must find a market niche or face impending decline. The deal between and Central Group was announced on Sept 15 after almost two months of speculation. Both sides of the aisle had been reluctant to comment on the rumour until last Friday.

The impact of growing tech trends on real estate sector
The Nation
Technology is disrupting every industry as it transforms the paradigms for doing business in all sectors. For example, in retail, e-commerce is transforming the way consumers do their shopping and it is forcing retailers to adapt or become obsolete.