Top Thailand Property News Of The Week - 13 Dec 2021

The top residential and commercial real estate news of the week - 13 December 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.

Open-Air Shopping Centers Are Leading Retail Recovery  
Bangkok Post
Shopping centers are having a moment, propelled by increased foot traffic to grocery stores, curbside pickup and population shifts that favor suburban shopping.

Hard Rock International buying The Mirage operation in Vegas
Washington Post
Hard Rock International said Monday it wants to see how a guitar-shaped hotel will play in the heart of the Las Vegas Strip. In what MGM Resorts International CEO and President Bill Hornbuckle called “a significant milestone for MGM Resorts and for Las Vegas,” the companies announced that MGM Resorts will sell operations of The Mirage to Hard Rock International in a cash deal worth nearly $1.1 billion.

AWC weighs investment options for coming year 15
Bangkok Post
SET-listed Asset World Corp (AWC) plans to reduce its investment for next year to less than 10 billion baht if tourism recovers slowly, as 70% of its hotel portfolio already passed a critical cash flow stage in December.

Brands urged to exploit 'silver shoppers'
Bangkok Post
Brands need to pay more attention to senior citizens as this group has high purchasing power and is open to new products, according to Wunderman Thompson Thailand, a marketing communications agency.

E-commerce seen growing in stature
Bangkok Post
E-commerce is set to become the main channel for business next year, with major e-marketplaces enjoying rising profits while local shops and grocery stores fade away, said Pawoot Pongvitayapanu, an e-commerce pioneer.

Siamese Asset seeks new sectors
Bangkok Post
SET-listed developer Siamese Asset plans to diversify to asset management, technology and health and wellness businesses to increase non-property income from 5% to 20% of total revenue by 2026.

Central Village mulls upcountry outlets
Bangkok Post
Central Village Co, a joint venture between SET-listed retail and property developer Central Pattana (CPN) and Mitsubishi Estate (Thailand) Co, plans to develop five new luxury outlets in the provinces to tap high purchasing power and international tourists in the area.

Ananda to launch 5 projects
Bangkok Post
SET-listed developer Ananda Development Plc will launch five serviced apartment projects in Bangkok and Pattaya over the next six months as a diversification to more resilient residential development business.

Shining Lights on the Past with Redevelopment
CBRE Thailand
Architecture is a narrative of time, people and place in history, a concrete evolution from small-scale structures like traditional houses to today’s large public complexes. At present, there are only a few remaining iconic old buildings especially in the downtown area of Bangkok where land prices are getting more expensive every year, mainly in prime locations. As the city’s progress can’t be stopped, a solution needs to be found to preserve our shared history.

Challenges stymie tour operators' recovery
Bangkok Post
Half of the outbound tour operators remaining in the market are facing tremendous challenges during the recovery period as they have insufficient staff and funds to cater to growing demand next year.

Operators set to discuss medical hub plan with TAT
Bangkok Post
Tourism operators in Hua Hin want to brainstorm plans to promote the medical hub to high-value tourists, hoping it can attract pent-up demand from Europe by the first quarter next year.