Top Thailand Property News Of The Week - 17 May 2021

The top residential and commercial real estate news of the week - 17 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.

Charn Issara to open Baba Beach Club in two months
Bangkok Post
SET-listed developer Charn Issara Development Plc (CI) plans to open phase two of Baba Beach Club Hua Hin, a 47-room hotel, in the next two months as it is confident vaccination rollout will boost domestic tourism.

Experts urge flexible home design amid new trends
Bangkok Post
As the Thai economy and property market recover by the end of next year, housing developers should accelerate the transformation of properties in order to catch up with changing behaviours triggered by the pandemic and related megatrends, according to experts.

China to Launch $4.9 Billion of REIT Products in Pilot
Bloomberg
China has approved the country’s first batch of public real estate investment trusts, giving local governments another tool to finance infrastructure projects.

Developers take cautious approach
Bangkok Post
Property developers have become more careful in launching new residential project this year and are focusing on segments where demand is strong as the daily number of Covid-19 cases continues to escalate.

FTI to bring back 'Faster Payment'
Bangkok Post
The Federation of Thai Industries (FTI) is bringing back its "Faster Payment" scheme to urge large companies to speed up debt repayments in a fresh attempt to help their trading partners -- mostly small and medium-sized enterprises (SMEs) -- solve liquidity problems amid Covid-19.

Mall operators extend relief measures
Bangkok Post
Many shopping centre operators have extended their relief measures to help enable tenants to continue with their businesses amid the unabated Covid-19 crisis.

Warren Buffett to Offer a New Spin on Modular Construction
The Wall Street Journal
A startup owned by Warren Buffett’s Berkshire Hathaway Inc. aims to shake up the construction industry by making it more like car manufacturing.

CPN adjusts strategy as profit drops 17%
Bangkok Post
Central Pattana Plc (CPN) reported revenue of 9.53 billion baht in the first quarter of 2021 and net profit of 3.84 billion baht, a 17% drop compared to last year in both revenue and profits.

PSH maintains its targets for this year
Bangkok Post
Despite a rise in Covid-19 infections, SET-listed developer Pruksa Holding Plc (PSH) is maintaining its presale and revenue targets for this year as it has low-rise houses and online channels as key drivers.

PTT, IEAT join hands to study plan to digitalise factories
Bangkok Post
The Industrial Estate Authority of Thailand (IEAT) and PTT Energy Solution Co, a subsidiary of PTT Group, are conducting a study on plans to set up a joint venture to help digitalise factories in industrial estates. The new company will provide digital solutions to upgrade factories and increase their production efficiency mainly through robotics and automation.

Alibaba leads $400 mln funding in Masan's retail firm, first Vietnam investment
Reuters
Alibaba Group Holding Ltd (9988.HK) is leading a $400 million funding in the retail unit of Vietnamese conglomerate Masan Group Corp (MSN.HM), marking its first investment in one of Asia's fastest-growing economies.

Indonesia’s Gojek and Tokopedia agree $18bn merger
Financial Times
Gojek and Tokopedia, Indonesia’s two biggest start-ups, have agreed to a merger that will create an $18bn food delivery, ride-hailing and ecommerce group with reach across south-east Asia.

Global luxury sales could return to pre-COVID levels this year, Bain says
Reuters
The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and U.S. shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday.

REITs: Risks and Rewards
CBRE Thailand
According to CBRE, a leading international property consultant company, although investing in property funds and real estate investment trusts (REITs) offer portfolio diversification and higher dividends compared to Thailand’s 10-year government bond yields, it is important to note that most individual REITs tend to focus on single asset classes that are prone to market-specific risks.