Top Thailand Property News Of The Week - 23 Aug 2021

The top residential and commercial real estate news of the week - 23 August 2021

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 - be it regarding residential, industrial, retail, office, hotel, land, or investment property.

SHR targets 10-15% revenue growth next year
Bangkok Post
SET-listed S Hotels & Resorts (SHR) expects the recovery momentum for tourism in the UK, Maldives and Fiji in July will continue throughout this year and into 2022 as it aims for revenue growth of 10-15% next year.

Samui Plus scheme sees lukewarm demand
Bangkok Post
The attempt to restart the battered tourism industry with the Samui Plus model which started on July 15, following the first-ever reopening plan under the Phuket sandbox, still has a long way to go to shore up the hotel business.

Jay Mart announces BTS investment deal
Bangkok Post
The board of SET-listed Jay Mart, a major IT product distributor, has approved the issuance of 300 million new shares to BTS Group Holdings' two subsidiaries through a private placement in a deal worth 10 billion baht.

BoI expects proposals to hit B500bn target
Bangkok Post
The Board of Investment (BoI) anticipates that the value of investment project proposals under its tax privilege programme, especially in such high-tech industries as electronics, will reach a 500-billion-baht target this year despite the volatile Covid-19 situation.

AWC to roll out B1.9bn hotel in Pattaya
Bangkok Post
SET-listed Asset World Corp (AWC) is rolling out its first hotel in a 10-billion-baht mixed-use project in Pattaya, choosing a new luxury brand under InterContinental Hotels Group (IHG) management.

Cannabis to be a cash crop in the EEC
Bangkok Post
The government plans to turn 10,000 rai of Sor Por Kor land in three provinces that form the Eastern Economic Corridor (EEC) into herb plantations growing cannabis, hemp and fa talai jone, under a project to develop and add value to Thai agricultural products.

Thousands of tourists leaving Phuket for other provinces
Bangkok Post
Thousands of tourists have departed Phuket by land since the Phuket Sandbox 7+7 Extension programme took effect on Aug 17, Thanakorn Wangboonkongchana, spokesman for Centre for Economic Situation Administration, said on Monday.

'7+7' tourist spot hopeful of bookings
Bangkok Post
Phangnga's local tourism council expects to welcome 3,000 visitors and earn up to 500 million baht in tourism revenue in the early phase of the government's next tourism sandbox scheme.

NVD divests two plots as it seeks to heal balance sheet
Bangkok Post
SET-listed developer Nirvana Daii (NVD) divested two plots of land to repair its balance sheet as the pandemic stunted presales, transfers and revenue in residential development.

Hilton to open luxurious Waldorf Astoria hotel in Osaka ahead of 2025 World Expo
The Japan Times
Hilton Worldwide Holdings Inc. is planning to open a Waldorf Astoria luxury hotel — the group’s highest standard of accommodation — in Osaka by 2025 ahead of the World Expo in the city, according to sources familiar with the matter.