Top Thailand Property News Of The Week 2 October 2023

The top residential and commercial real estate news of the week - 2 October 2023

Industrial land sales surge by 182% in fiscal 2023
Bangkok Post
Industrial land sales, overseen by the Industrial Estate Authority of Thailand (IEAT), skyrocketed by 182% year-on-year in fiscal 2023 to 5,693 rai thanks to the relocation of foreign production facilities to Thailand and the government's investment promotion.

Rising rates set to dent Thai business costs
Bangkok Post
The Bank of Thailand's latest decision to increase its policy rate, to the highest level in 10 years, is expected to lead to another round of rising financial costs among manufacturers amid baht depreciation, says the Federation of Thai Industries (FTI).

MQDC to launch new project in Pattaya
Bangkok Post
Property developer Magnolia Quality Development Corporation Ltd (MQDC) is eager to launch a new mixed-use project in Pattaya next year, following a residential unit transfer worth 10 billion baht at its mega-project The Forestias in early 2024.

Mall operator sinks B3bn into collaborative tech ecosystem
Bangkok Post
Despite the recent deadly shooting at its mall, Siam Paragon Development Co remains committed to investing 3 billion baht from this year through the first half of 2024 to transform Siam Paragon into a new world of lifestyle shopping.

Russians spur Phuket luxury villa market
Bangkok Post
Increasing demand for luxury villas in Phuket from Russian buyers is driving new supply in the market to reach a record high this year, which could result in a glut.

Travellers unfazed by debt, pricier rooms
Bangkok Post
Most Thai tourists still intend to travel over the next 12 months despite rising accommodation prices globally, according to hotel e-commerce platform SiteMinder.

ThaiBev to allocate B7bn for domestic, overseas expansion
Bangkok Post
Thai Beverage (ThaiBev), the Singapore-listed Asean food and beverage company, looks set to spend 7 billion baht to expand its businesses both domestically and internationally in the current fiscal year, which began on Oct 1.

MRTA pushes city, Phuket transit plans
Bangkok Post
The Mass Rapid Transit Authority of Thailand (MRTA) will urge the Transport Ministry to push ahead with three mass-transit projects in Bangkok and Phuket based on a total investment of about 220 billion baht.

Koon Estate and AISL Achieve 50% of VIP Sale Bookings for Hyde Park Garden Vibhavadi Phase 1
CBRE
Koon Estate and AISL achieve 50% of VIP sale bookings for Hyde Park Garden Vibhavadi phase 1, worth 1.4 billion baht, set to open the show unit for pre-sale on Oct 6-8, with the aim to be sold out in 3 months

Italy agrees to promote two-way gastronomy and tourism ties
Bangkok Post
Thailand and Italy have agreed on a plan to jointly promote gastronomy and tourism between the two countries, while Italy in particular has expressed a wish to invest more in Thailand's flagship Eastern Economic Corridor (EEC), said Nalinee Taveesin, the new Thai trade representative, yesterday.