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Top Thailand Property News Of The Week 9 January 2023

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.

January 13, 2023


The top residential and commercial real estate news of the week - 9 Januay 2023

BCP has high hopes for buyout of Esso
Bangkok Post
Energy conglomerate Bangchak Corporation Plc (BCP) expects its buyout of Esso (Thailand) Plc for 55.5 billion baht to pave the way for higher revenue, gaining a larger market share in the oil retail business and lower costs, though the new asset acquisition will increase its debt.

Land & Houses to invest B9bn in 2023
Bangkok Post
SET-listed developer Land & Houses plans to spend 9 billion baht on the property business this year, with onethird going to three hotels as the economy and tourism sector are recovering.

Rise of online payments accelerates march to cashless society
Bangkok Post
Some 95% of transactions among consumers are set to be paid via online channels this year. Former magazine editor Kaysinee Sutthavarangkul never used to give much thought to making cashless payments, as it seemed unlikely to her that every transaction could be made online. But she has changed her buying behaviour since the pandemic.

Interest rates hamstring developers
Bangkok Post
Higher interest rates and the end of property measures weakened housing developer sentiment, while the comeback of Chinese tourists boosted confidence, according to the Real Estate Information Center (REIC).

Ek-Chai to up investment by 50% to B11bn
Bangkok Post
Encouraged by the expected recovery of the retail industry, Ek-Chai Distribution System Co, the operator of Lotus's retail stores, plans to raise its investment by 50% to 11 billion baht to expand its business this year.

Frasers allots B5bn for industrial sector
Bangkok Post
Frasers Property Industrial Thailand (FPIT) plans to spend 5 billion baht this year to expand industrial spaces in Thailand, Vietnam and Indonesia by 250,000 square metres.

Lalin unfazed by LTV change, eyes 10% growth
Bangkok Post
SET-listed developer Lalin Property Plc is aiming for growth of at least 10% in 2023 as the normal loan-to-value (LTV) limits will have a minimal impact on target customers in the real demand segment.

Apple supplier BOE to build 2 factories in Vietnam: sources
Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam, two people familiar with the matter said.

Used car market set to record 15% growth
Bangkok Post
The used car market in Thailand is expected to grow by 15% this year, driven by the prolonged shortage of semiconductors required to manufacture new cars, says the Association of Used Car.

Tourism forecast in line for upgrade as Chinese return
Bangkok Post
The state planning unit looks set to upgrade its forecasts for tourism revenue and arrival numbers as it expects a surge of visitors from China after the country reopened its borders.

China market poised to regain top position
Bangkok Post
Travellers from China are forecast to regain the top spot in terms of arrivals this year with no fewer than 5 million, while low-cost carriers from Thailand rush to secure China's routes to tap pent-up demand.

CBRE: 2022, A year of revival for low-rise housing
CBRE Thailand
CBRE, a leading international property consultant, revealed that after more than a decade of consistent growth in the supply of condominiums in Bangkok, 2022 witnessed the return of low-rise housing as the home of choice for Thai buyers.