Top Thailand Property News Of The Week - 16 Aug 2021

The top residential and commercial real estate news of the week - 16 August 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.

IT drawn towards online channel
Bangkok Post
The retail IT sector in Thailand is gravitating towards online sales, with half of distributors' revenues expected to come from the online channel by 2023, says major IT distributor Advice IT Infinite. Physical stores are likely to be transformed into complete end-to-end service sites, Advice indicated.

Pruksa unit retains low-rise focus
Bangkok Post
Developer Pruksa Real Estate remains focused on low-rise houses in locations with good sales rates, using online channels and clearing inventory to maintain presales and revenue targets amid a sluggish market.

Principal Capital keen on telemedicine trend
Bangkok Post
Digital healthcare and telemedicine businesses have grown exponentially over the past year-and-a-half thanks to increased demand for online medical services as patients avoid travel to hospitals.

Robinhood unveils online travel agent
Bangkok Post
The food delivery platform Robinhood is expanding into tourism with a new one-stop online travel agent (OTA) called Robinhood Travel that boasts a zero gross profit policy, like its initial app.

CP All eyes 700 7-Eleven openings despite lockdown curbs
Bangkok Post
CP All Plc, the operator of 7-Eleven convenience stores, remains committed to adding around 700 new stores this year with projected capital expenditure of 11.5-12 billion baht, despite the ongoing negative impacts of pandemic restrictions.

Revamped QSNCC already taking bookings for future events
Bangkok Post
N.C.C. Management & Development Co announced it will open the new Queen Sirikit National Convention Center (QSNCC) in September 2022 and has begun taking bookings for future events.

Hyatt to double its international resorts with $2.7 billion Apple Leisure Group purchase
Chicago Tribune
Hyatt is buying resort company Apple Leisure Group for $2.7 billion in a bet that luxury leisure travel will continue to recover from the COVID-19 pandemic. “We are very bullish on leisure travel. It’s proven its resiliency and durability,” Hyatt CEO Mark Hoplamazian said during a webcast with investors Monday morning.

Noble planning to shift towards low-rise segment
Bangkok Post
With the low-rise housing market robust during the pandemic, SET-listed Noble Development plans to shift towards the segment, featuring six low-rise projects among the 17 in its pipeline.

TAT plea to amend sandbox plan
Bangkok Post
The Tourism Authority of Thailand (TAT) is asking the Centre for Covid-19 Situation Administration (CCSA) to approve the so-called 7+7 model allowing tourists to stay in Phuket for seven days before visiting other locations.