Thailand Investment MarketView Q3 2016
29 Nov 2016
Confirms Demand for Prime Sites, Record-Breaking Transaction
The demand for prime Bangkok CBD sites and prime income producing properties remains strong, despite the slow economic growth and limited supply of sites and income producing properties being offered for sale. There was a record breaking transaction in Q3 2016 and several land transactions outside the CBD for mid-town and suburban condominium developments.
In Q3 2016, new residential development remained slow. We have seen some new launches for condominium projects in both downtown and midtown area.
SC Capital Partners sold the freehold of Exchange Tower and Leasehold of Mercury Tower to its vendor sponsored REIT, the Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust (TPRIME) for THB 7.22 billion or USD 205 million. The fund was listed on The Stock Exchange Thailand on 31st October 2016.
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