Top Thailand Property News Of The Week - 10 May 2021

The top residential and commercial real estate news of the week - 10 May 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.

Record fine drags e-commerce giant Alibaba to rare loss
Macau Business
Chinese e-commerce giant Alibaba said Thursday it fell to a US$1.17 billion operational loss in its latest financial quarter due to a record fine levied by the government for anti-competitive practices.

FTREIT aims to sustain 15% revenue growth
Bangkok Post
Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) aims to sustain growth in revenue of 15% in the fiscal year ending on Sept 30 this year, as the industrial sector remains robust while planning to invest 2 billion baht to buy new assets this year.

Pena Group scales down outlet business
Bangkok Post
Pena House Group, the maker of Pena-brand fashion items and operator of Premium Outlet Cha-am, is scaling down its outlet mall business as the company attempts to improve its business efficacy to weather the impact of the Covid-19 pandemic.

Amazon wins $303 mln court fight in blow to EU tax crusade
Reuters
Amazon (AMZN.O) won its fight against an EU order to pay about 250 million euros ($303 million) in back taxes to Luxembourg in a blow to competition chief Margrethe Vestager's crusade against preferential deals.

FN readjusts business strategy
Bangkok Post
SET-listed FN Factory Outlet is beefing up its consumer goods distribution business to offset a drop in sales in its outlet business caused by the Covid-19 pandemic.

Hotel outlook remains negative
Bangkok Post
Tris Rating maintains a negative outlook for the hotel industry in Thailand, with performance to remain under extreme pressure from the slow recovery of travel and tourism demand.

Agency seeks hike in foreign condo quota
Bangkok Post
An increase in foreign ownership quotas for condominiums from 49% to 70-80% should be allowed in specific locations and capped at units priced higher than 5 million baht to reserve supply priced lower than five million baht for Thais.

New grocery store scheme to help reduce cost of living
Bangkok Post
The Commerce Ministry yesterday launched a fresh mobile grocery store campaign to help reduce the cost of living for people in Greater Bangkok.

TISI hits eight-month low
Bangkok Post
The Thailand Industry Sentiment Index (TISI) in April sank to 84.3 points, the lowest in eight months, as the ongoing Covid-19 outbreak has prompted the Federation of Thai Industries (FTI) to scramble for vaccines for factory workers as soon as June.

Industrial estates to serve as jab hubs
Bangkok Post
The Industrial Estate Authority of Thailand (IEAT) will use industrial estates countrywide as vaccination venues as it plans to join hands with the private sector to speed up distributing vaccines to factory workers.

Japan’s Muji Appeals to China by Advertising Use of Xinjiang Cotton
The Wall Street Journal
While Swedish clothing retailer H&M has been virtually wiped off e-commerce sites in China, rival Muji is winning applause there.

Demand for cheap units plummets
Bangkok Post
The third wave of the pandemic has only worsened housing demand in Bangkok's low-priced segment despite the extension of property tax incentives, a recent survey found.

CBRE Partners with Thailand Elite Card Offering One-stop Services to Foreign Property Investors
CBRE Thailand
CBRE, the world’s leading international property consultant firm which has been operating in Thailand for more than 33 years, announces a new business partnership with Thailand Elite Card.