Article | Creating Resilience

Top Thailand Property News Of The Week 18 September 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.

September 22, 2023


The top residential and commercial real estate news of the week - 18 September 2023

Huawei set to build AI, cloud training centre in Thailand
Bangkok Post
Huawei, a Chinese provider of information and communications technology (ICT) infrastructure and smart devices, has accepted an invitation from Thailand's Digital Economy and Society Minister Prasert Jantararuangtong to establish a centre here to develop Thai workers in artificial intelligence (AI) and cloud fields.

Foreign applications rise by 14%
Bangkok Post
Foreign investment tallied 65.8 billion baht for the first eight months of this year, with Japan still topping the list in terms of spending to develop businesses in Thailand.

BlackRock 'expresses interest' in Thailand
Bangkok Post
US-based BlackRock Inc, the world's largest asset management company, expressed interest in expanding its business in Thailand and investing in clean energy and the Thai Government's Sustainability Linked Bonds during a meeting with Prime Minister Srettha Thavisin.

Siam Piwat sets out global growth plans
Bangkok Post
Siam Piwat, Thailand's leading developer of retail destinations, has unveiled its vision to expand business locally and overseas to strengthen its position in the real estate and retail development industry.

CPN unveils Go! Hotel expansion strategy
Bangkok Post
SET-listed developer Central Pattana (CPN) has unveiled a strategy aimed at ensuring that Go! Hotel becomes No.1 in the "Premium Budget Hotel" segment, and is rolling out Go! Hotel in four main locations – Go! Hotel Bowin, Go! Hotel Banchang, Go! Hotel Chonburi and Go! Hotel Si Racha – penetrating both the Eastern Economic Corridor and major tourist destinations.

Chiang Mai hotels facing lukewarm demand
Bangkok Post
Hotels in general and the international airport in Chiang Mai still have a large number of rooms available and spare capacity due to the relatively tepid resumption of tourism post-pandemic, while concerns over PM2.5 dust during the high season still remain.

Foreign demand continues to surge in H1
Bangkok Post
While the number of local buyers in the condo market has slowed, foreign demand continued to surge, accounting for 24.6% of the total transfer value nationwide in the first half of 2023, up from 20.5% last year, led by Chinese buyers.

Shopee, Lazada plan to raise sales commission fees
Bangkok Post
Leading e-marketplaces in Thailand plan to raise their sales commission fees next month for goods sold on their platforms.

Partners co-develop Phuket villa project
Bangkok Post
Amid a foreign purchasing boom led by Russians, MontAzure has partnered with local developer Botanica Luxury Phuket to develop villas priced 49-170 million baht on Kamala Beach targeting overseas buyers.

Phuket pushes health hub plan
Bangkok Post
Phuket's tourism and property development sectors have urged Prime Minister Srettha Thavisin to quickly consider their proposal for an Andaman Wellness Economic Corridor (AWC) to keep pace with the global trend in wellness and boost related investment and the tourism industry.