Top Thailand Property News Of The Week - 11 January 2021

The top residential and commercial real estate news of the week - 11 January 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.

Hoteliers hesitant to embrace ASQ scheme
Bangkok Post
Hoteliers are delaying their decisions on whether to join the alternative state quarantine (ASQ) programme as the emergence of new local cases has slowed down bookings.

Housing developer sentiment set to decrease in first half
Bangkok Post
Housing developer sentiment in the first half this year is expected to drop after a recovery in the fourth quarter last year because of the recent outbreak, says the Real Estate Information Center.

2m debtors poised to join bank scheme
Bangkok Post
State-owned banks expect around 2 million debtors to participate in the latest financial relief measures rolled out to alleviate the impact of the pandemic. The Government Savings Bank (GSB) assesses around 30% of its total customer base of 5 million will participate in the recently launched debt relief scheme, said Vitai Ratanakorn, president and chief executive.

LH reduces launches to 12 projects
Bangkok Post
SET-listed developer Land & Houses Plc (LH) scaled down its residential launches this year to 12 projects, down 25% from last year, worth a combined 20.7 billion baht.

Future of Department Stores in Thailand Redefined
CBRE Thailand
While department stores have been a familiar destination for Thai people for many decades, CBRE, a leading international property consultant, has witnessed a decline in popularity and small growth, particularly in 2020 when COVID-19 adversely hit the sector.

Chinese buyers bullish despite challenges
Bangkok Post
Despite a new wave of Covid-19 cases in Thailand, Chinese buyers are prepared to purchase Thai properties in the second half of 2021, driven by the expectation of a distribution of vaccines and the reopening of inbound tourism.

Investment in southern provinces poised to rise
Bangkok Post
More active investment in the southern provinces is anticipated after the Board of Investment late last year approved a two-year extension (2021-22) to incentives in the five southernmost provinces of Narathiwat, Pattani, Satun, Songkhla and Yala.

Egco diversifies into industrial estates
Bangkok Post
Electricity Generating Plc (Egco), a subsidiary of state-run Electricity Generating Authority of Thailand, plans to diversify into a new industrial estate business in Rayong to fuel its growth in advanced energy businesses.

Blackstone Buying Lucasfilm Singapore Facility for $132 Million
Bangkok Post
Blackstone Group Inc. is looking to purchase Lucasfilm’s building in Singapore for about S$175 million ($132 million), according to people familiar with the matter. The company has started the process of buying the building known as The Sandcrawler, pending regulatory approval, the people said, requesting not to be named because the matter is private.

AP condo projects enrolled in Elite Card programme
The Nation
Real estate developer AP (Thailand) Pcl and Thailand Privilege Card Co Ltd, operator of Thailand Elite membership card, recently signed a memorandum of understanding for a special collaboration on the Elite Flexible One programme.

Outbreak hurts riverside hotels
Bangkok Post
Hotels located by the Chao Phraya River are suffering from the fresh coronavirus outbreak as the domestic market avoids Bangkok, which has been designated a red zone with strict rules.

Walmart to launch fintech company with Robinhood, Affirm backer
MarketWatch
Walmart Inc. said late Monday it will start its own financial technology company, aimed at customers and employees, with the help of investment firm Ribbit Capital, which has backed investment platform Robinhood, personal finance portal Credit Karma, and other big names in the industry.