Top Thailand Property News Of The Week - 15 February 2021

The top residential and commercial real estate news of the week - 15 February 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.

TAT targets holders of cryptocurrencies
Bangkok Post
The Tourism Authority of Thailand (TAT) wants to establish Thailand as the first country to welcome cryptocurrency holders by targeting Japanese tourists in the initial phase.

B3m incentive cap deemed too low
Bangkok Post
The government should extend property incentives to cover residential units priced above 3 million baht to help the property market as foreign demand has dropped, says the Real Estate Information Center.

Lazada makes moves to invigorate sales
Bangkok Post
E-commerce giant Lazada has vowed to amplify its investment in key marketing campaigns and roll out a series of new solutions, including a cross-store platform promotion tool this year to spur customer spending amid the pandemic.

Hong Kong Developer Sells Asia’s Priciest Apartment at $59 Million
Bloomberg
Hong Kong tycoon Victor Li’s CK Asset Holdings Ltd. sold a luxury apartment for a record-breaking HK$459 million ($59 million), another sign that the city’s upscale housing market is recovering.

CP Group drops Tesco in rebrand move
Bangkok Post
Charoen Pokphand Group, the country's biggest agribusiness conglomerate, has dropped the Tesco brand in Thailand after the completion of a US$10.6 billion-baht purchase deal.

Hotels urge govt to lift booze ban
Bangkok Post
Hotel operators want the Centre for Covid-19 Situation Administration (CCSA) to lift the ban on drinking alcohol at hotels so they can compensate for weaker occupancy rates with F&B revenue. Poor tourism sentiment has led to fewer bookings, generating less revenue for hotels.

Robots at reception: South African hotel turns to machines to beat pandemic
Reuters
Staff at Hotel Sky in Johannesburg’s wealthy Sandton district adhere to strict COVID-19 protocols, wearing masks and physically distancing from guests as much as possible; all, that is, except Lexi, Micah and Ariel.

Dusit signs deal for 11th resort in China
The Nation
Dusit International has bet on China’s early recovery from Covid-19 by opening a new hotel in the south of the country. Dusit Princess Hot Springs Resort Fengshun, Guangdong is slated to open in April 2021 in Meizhou City, Guangdong Province.The deal to manage its 11th hotel in China was signed with Fengshun Jindebao Kaiyue International Hot Springs Hotel Co, Ltd.

2021 Looks Like a Black Hole for Battered European Tourism
Bloomberg
Across Southern Europe’s tourist hotspots, all they can do is get ready and hope. Vaccinations for the coronavirus are being rolled out, but it’s going to be months before enough shots are delivered that people can start crowding onto planes, taking cruises, or hanging out in packed bars along the beach. That means businesses are largely in the dark about this year’s summer season.

SC Asset buying 30 plots for development
Bangkok Post
SET-listed developer SC Asset Corporation plans to invest 25 billion baht in 2021-22 for the acquisition of at least 30 new plots to develop residential projects worth a combined 35 billion baht.