Article | Creating Resilience

Top Thailand Property News Of The Week 19 June 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.

June 23, 2023


The top residential and commercial real estate news of the week - 19 June 2023

Yellow Line monorail experiences its first technical glitch
Bangkok Post
The Yellow Line monorail had its first technical problem after 20 days of trial runs, with five stops from Lat Phrao 101 to Hua Mak temporarily closed for about an hour and a half on Thursday.

Tourism firms cash in on travel boom
Bangkok Post
Tourism-related businesses continued to thrive during the first five months of this year, especially foreign currency exchanges, travel agencies, tour guides, restaurants, and hotel, resort and condo companies.

Thailand is 2nd most popular destination - Agoda
Bangkok Post
Thailand is the second most popular destination country, and Bangkok is the most popular city for travellers who use the online travel platform Agoda, according to its recent analysis of booking data.

Pattaya to construct 4 monorail lines
Bangkok Post
The Pattaya City Administration plans to introduce four monorail lines to ease traffic congestion. It will begin with a 9.9-kilometre "Green Line" route which will connect the future high-speed train station to Bali Hai pier.

Korean arrivals expected to hit 1m mark in third quarter
Bangkok Post
The number of Korean tourists visiting Thailand is projected to hit 1 million in the third quarter of this year, while the Korea Tourism Organization also wants to attract more Thai tourists via smart tourism products.

ChatGPT spurs rise in AI investment
Bangkok Post
The publicity surrounding ChatGPT has prompted 45% of senior corporate executives to increase artificial intelligence (AI) investments, a recent Gartner pool of more than 2,500 executive leaders has found.

Uncertainty stymies tourism trade
Bangkok Post
Even as the Election Commission endorsed all MP-elect candidates this week, tourism operators remain worried about stagnant domestic expenditure as travellers delay potential plans, while local businesses are reluctant to reinvest until a government is formed.

Phuket loses Expo bid
Bangkok Post
Phuket has lost its bid to host the Specialised Expo 2027-28, which has been awarded to Belgrade, Serbia.

WHA eyes record year as firms expand out of China
Bangkok Post
WHA Corporation Plc, the country's larget industrial estate developer, expects a second straight year of record land sales from companies seeking to diversify away from China, its CEO said on Wednesday.

Spending patterns of super-rich show Asia is most expensive region
Bangkok Post
Asia remains the costliest region in the world to live in, with Singapore taking the number one spot, followed by Shanghai and Hong Kong, according to Julius Baer's latest Global Wealth and Lifestyle report.

Centara to open Osaka hotel July 1
Bangkok Post
Centara Hotels & Resorts plans to open its newest property Centara Grand Hotel Osaka on July 1, its first foray into the Japanese market.

Phuket tourism revenue returns to pre-Covid level
Bangkok Post
Tourism in the southern island province has returned to its pre-Covid level by revenue, while the number of visitors remains lower than before the pandemic due partly to fewer returning Chinese tourists, according to local authorities.