The top residential and commercial real estate news of the week - 29 November 2021
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.
Laos opens Chinese-built railway line
Laos is set to open a US$6 billion Chinese-built railway on Friday, with debt concerns balanced against hopes it could boost the reclusive nation's struggling economy. The 414-kilometre route took five years to construct under China's trillion-dollar Belt and Road Initiative.
CRC allots B4.5bn to buy Porto shares
Central Retail Corporation (CRC), the SET-listed retail arm of Central Group, is set to spend 4.5 billion baht to purchase the majority of shares of Porto Worldwide, which has a 40% stake in Grab's business in Thailand. The goal is to bolster CRC's business through the strength of the superapp.
XSpring Capital and Siam Piwat set to revolutionise retail and digital asset sectors
XSpring Capital Plc (XPG), Thailand’s leading integrated financial service provider, has announced a strategic partnership with Siam Piwat Co, the owner and operator of leading retail destinations, to revolutionise the Thai retail and digital asset industries.
Travel agents hope for outbound recovery
While international trips have rebounded across the globe, the pace of recovery in Asia Pacific is still lagging as regional travel regulations differ and most countries adopt a cautious approach towards reopening.
Mall Group, Bitkub form digital community
The Mall Group Co, operator of The Mall, The Emporium, Paragon and EmQuartier, has teamed up with Bitkub Capital Group Holdings and other business partners to create a joint venture aiming to elevate Thailand to Asia's leading hub for digital asset investment and tourism.
THG upbeat on sales at Jin Wellness
SET-listed Thonburi Healthcare Group (THG) expects to sell all units under its Jin Wellness accommodation and elderly care service by next year, believing the sales will get a boost from an economic recovery following the reopening of the country.
State projects set to boost 2022 construction income
The domestic construction market is expected to grow by 6% to 850 billion baht next year, due to state infrastructure development projects and better economic prospects thanks to the speedy rollout of Covid-19 vaccinations, says Civil Engineering Plc.
Omicron will not affect reopening, says Phiphat
Thailand will not take a step back from the reopening plan despite uncertainty over the Omicron variant and the Tourism and Sports Ministry will also propose more relaxation on alcohol sales from the afternoon to lift the festive sentiment.
Noble bullish on property market next year
SET-listed developer Noble Development Plc is bullish about the 2022 property market, planning to launch 18 new projects worth a combined 47.4 billion baht with nearly half being joint ventures with BTS Group Holdings.
The health and economic impact of the ongoing Covid-19 pandemic has heightened the housing crisis not just in Thailand but worldwide, amid reports that global poverty is at an all-time high.
Singha upbeat on outlook for hotels
SET-listed developer Singha Estate expects the tourism sector in Thailand, Mauritius and Fiji to rebound by the second quarter of 2022, helping to revive its hotel business in the three countries.
EEC touts prudence of PPP projects
Four key infrastructure projects in the flagship Eastern Economic Corridor (EEC) are saving the state significant amounts of money because of their public-private partnership (PPP) funding, in addition to offering a net return of more than 200 billion baht for the government, according to the EEC Office.