Top Thailand Property News Of The Week 23 October 2023

The top residential and commercial real estate news of the week - 23 October 2023

Wholesalers facing fresh competition
Bangkok Post
The wholesale market in the Srinakarin area is intensifying as Go Wholesale, a membership store under Central Retail Corporation (CRC), commences its operations today. The store competes with Makro cash & carry, owned by the Chearavanont family that controls the agribusiness conglomerate Charoen Pokphand (CP) Group.

Lazada banking on new sorting facility
Bangkok Post
Lazada Thailand is making its largest investment in Southeast Asia on a new sorting facility, preparing for e-commerce growth expected to reach US$32 billion by 2025. Kerry Express also invested in automation technology and digital mapping to increase the accuracy and efficiency of its logistics operations. The moves signal increased competition in the local logistics sector.

Changan plans to sell EVs from Rayong plant
Bangkok Post
Chinese electric vehicle maker Changan Automobile plans to start selling EVs from its Rayong plant in 2025, increasing annual production capacity to 200,000 units to serve fast-growing EV demand.

CPN sinks B4bn into Central Ubon development
Bangkok Post
Central Pattana Plc (CPN) has launched the Central Ubon mixed-use development project in northeastern Thailand with a total investment value of 4 billion baht.

Srettha touts land bridge project
Bangkok Post
The proposed land bridge project will be the world's largest megaproject, helping to elevate the Thai economy in the medium to long term, says Prime Minister Srettha Thavisin. During a speech delivered yesterday at an Economic Reporters Association meeting, Mr Srettha said the project between the Gulf of Thailand and the Andaman Sea will reduce the transport time by 6-9 days, as well as cut logistics costs by bypassing congestion in the Malacca Strait.

China Developer Country Garden Deemed in Default on Dollar Bond for First Time
Yahoo Finance
Chinese developer Country Garden Holdings Co. was deemed to be in default on a dollar bond for the first time, underscoring its fall into distress amid a broader property debt crisis that’s shaken the world’s second-biggest economy.

The Incredible Rise in Value of Phuket Real Estate in 2023
The Phuket News
As 2023 draws to a close, a trend which started shortly after Covid has seemed to accelerate over the past 12 months - property prices are rising. Barely a day goes by without someone on the island raising the price (whether new or resale) of their land, condos or villas.

Demand remains healthy for single detached houses
Bangkok Post
The single detached house market in Greater Bangkok has been robust since last year, resulting in a year-on-year increase in the price index for five consecutive quarters as demand is strong.

China property market shows little signs of revival despite stimulus
Bangkok Post
China's troubled property market is showing little signs of a recovery in the short term despite a series of government stimulus measures to help revive activity in the sector which makes up a quarter of the nation's economic output.