Top Thailand Property News Of The Week 28 Mar 2022

The top residential and commercial real estate news of the week - 28 March 2022

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.

CBRE expects demand to stay strong
Bangkok Post
Property consultant CBRE Thailand aims to secure 13.8 billion baht in residential sales in 2022, a year-on-year growth of 15%, with luxury low-rise houses and resort homes the key drivers.

CPN preps B20bn for growth
Bangkok Post
SET-listed retail and property developer Central Pattana Plc (CPN) plans to spend 20.7 billion baht to expand its business this year.

Nawarat readies 2 new projects worth B1.86bn
Bangkok Post
SET-listed contractor Nawarat Patanakarn plans to launch two new residential projects worth a combined 1.86 billion baht this year after freezing new launches since 2020.

Narai eyes a luxurious future
Bangkok Post
Narai Hotel plans to build two new hotels on Silom Road by 2026, with an investment budget of 8-10 billion baht, to replace the existing 54-year-old hotel.

Tourism sentiment in the doldrums
Bangkok Post
The tourism index in the first quarter remains depressed, while the risk of more unemployment still clouds the outlook for the next quarter, mainly attributed to the Omicron variant and the Russia-Ukraine war, according to the Tourism Council of Thailand (TCT).

Project geared to over-50s
Bangkok Post
Thailand's leading property developer MQDC (Magnolia Quality Development Corporation), has introduced "The Aspen Tree", a reimaged retirement community in the Bang Na Trad area.

Why has Shopee shut shop in India?
The Indian Express
Social commerce platform Shopee is exiting India citing “global market uncertainties”, less than six months after it launched in the country. This is despite the platform, which is owned by Singapore-based consumer internet company Sea Group, becoming one of the most downloaded apps on Android Play Store shortly after its launch.

Berli Jucker allots up to B70bn for growth
Bangkok Post
SET-listed Berli Jucker Plc will spend 60-70 billion baht under a five-year business plan, running from 2022-26, to double the size of its modern retail business across Southeast Asia with an increase of sales by two times to 270 billion baht.

Walmart to stop selling cigarettes in some stores
CBS News
The Wall Street Journal was the first to report the development Monday. It noted some stores in California, Florida, Arkansas and New Mexico were on the list, citing anonymous sources and store visits.

Developers risk flooding the market, say analysts
Bangkok Post
Residential developers should be more careful in terms of unveiling new launches this year as their plans represent the highest level recorded in more than a decade, while unsold inventory could exceed 1 trillion baht, leading to a high level of risk, according to Asia Plus Securities.