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Top Thailand Property News Of The Week 19 February 2024

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.

February 23, 2024


The top residential and commercial real estate news of the week - 19 February 2024

Changes coming to airports
Bangkok Post
Traffic congestion outside the departure halls of Suvarnabhumi airport and long queues for arrivals have become expected, as problems have yet to be properly fixed.

INETREIT set to hike capital by B3.2bn
Bangkok Post
INET Leasehold Real Estate Investment Trust (INETREIT) is planning its first capital increase of up to 3.2 billion baht for an additional investment in the rights of the INET-IDC3 phase 2, which is operated by local information and communication technology infrastructure provider Internet Thailand (INET).

AP set to launch 48 new developments
Bangkok Post
SET-listed developer AP Thailand plans to launch 48 new projects worth a combined 58 billion baht, a lower sum than last year, aiming for growth of 10-11% in presales to 57 billion baht, with revenue rising to 53.7 billion.

Europeans drive up room rates in the South
Bangkok Post
Longer stays from European guests helped drive room revenue in the first quarter in southern provinces, as room rates set a new record despite a small number of Chinese tourists.

Thailand Sees Surge in Condo Purchases Among Foreign Buyers
Thai News
Reports have indicated that the Thai real estate market in 2023 witnessed a significant increase in condominium transactions by foreigners, with a total of 49,250 units sold from developers' projects.

Sena upbeat on state solar power scheme
Bangkok Post
The government's plan to launch a new rooftop solar power project for households is attracting the attention of housing developers, with Sena Development Plc, a developer that also offers solar panel installation services, aiming to benefit from the scheme.

The BT Tower, a London landmark, to become hotel
The New York Times
The BT Tower, was sold to an American group on Wednesday, plans are afoot to turn it into a hotel: one that rises 581 feet (177 meters) above the ground.

Pruksa preps 30 projects worth B29bn
Bangkok Post
SET-listed developer Pruksa Holding (PSH) is planning to launch 30 new residential projects worth a combined 29 billion baht, with a shift to the upper-priced segment to balance those in the lower-end market affected by negative factors.

EEC ID system set for September launch
Bangkok Post
The Eastern Economic Corridor Office (EECO) aims to launch the EEC ID system by September as an additional part of the existing EEC visa scheme which will further ease the burden of foreign investors and workers in the 35 promoted zones in the three EEC provinces.

Exat eyes 4 new road projects
Bangkok Post
The Expressway Authority of Thailand (Exat) is rolling out four new expressway projects worth about 120 billion baht.

AWS sets out expansion strategy for AI, cloud services
Bangkok Post
Amazon Web Services (AWS), the cloud computing arm of Amazon, has outlined strategies to democratise technology and generative artificial intelligence (AI) amid intense competition in the global generative AI domain.

Residential property market remains tepid this year
Bangkok Post
Though Thai GDP growth is forecast at 2.8-3.2% this year, the residential market may post marginal gains as demand remains weak, according to the Real Estate Information Center (REIC).