Top Thailand Property News Of The Week - 4 Oct 2021

The top residential and commercial real estate news of the week - 4 October 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.

TAT maps out new targets for tourism
Bangkok Post
The tourism industry is expected to hit rock bottom this year with total revenue of 328 billion baht but will rebound next year and reach 80% of its 2019 level in 2023, according to the Tourism Authority of Thailand (TAT).

Phuket gets 42,000 overseas visitors
Bangkok Post
More than 42,000 international travellers have flown to Phuket during July 1-Oct 5, generating more than 2 billion baht for the economy, says the Tourism Authority of Thailand (TAT).

Hoteliers keep domestic focus for Q4
Bangkok Post
As Thailand remains on course to reopen more areas to vaccinated tourists, aiming to stimulate the national economy during the traditional high season, hoteliers are pinning their hopes on the restart of tourism, particularly in Bangkok.

XSpring Digital rakes in B2.4bn from SIRIHUB
Bangkok Post
XSpring Digital Co has raised 2.4 billion baht from selling a total of 240 million Siri Hub Investment Digital Tokens (SIRIHUB), the country's first real estate-backed token, with over 6,000 subscriptions. SIRIHUB will be listed on ERX, the digital asset exchange on Oct 12.

Dusit Thani lands long-term credit loan
Bangkok Post
SET-listed hospitality giant Dusit Thani has secured a long-term credit loan of an undisclosed value from Bangkok Bank. The loan will cover Dusit Thani's business operations, a property development loan for hotels under Dusit's new hospitality subsidiary Asai, and ongoing projects, especially Dusit Central Park -- Bangkok's latest world-class city landmark and mixed-use development.

Hunger or Squid? The game China’s developers are really playing
Bloomberg
South Korea’s dystopian drama “Squid Game” is poised to become Netflix Inc.’s biggest hit ever. The destitute and desperate enter a bloody contest where they play a series of traditional children’s games with just two outcomes: death or a $40 million cash prize.

“Sammakorn” creates a sensation in luxury house “Providence Lane Ekkamai-Ramintra”
CBRE Thailand
"Sammakorn" creates a sensation in the luxury house market by teaming up with "Asset Pro" to construct "PROVIDENCE LANE Ekkamai-Ramintra," a project worth over 500 million baht. "Pod Modern Dog" is featured as a "Brand Iconic," aiming to fulfill the true demand of the new generation.

IEAT looks to Smart Park to serve EEC S-curve sectors
Bangkok Post
The Industrial Estate Authority of Thailand (IEAT) expects to open Smart Park to serve S-curve industries in the Eastern Economic Corridor (EEC) in 2024 after hiring a company to supervise the construction of its new 12-billion-baht industrial estate.

State rejigs EEC investment plans
Bangkok Post
The government has revised investment plans in the state flagship Eastern Economic Corridor (EEC), as it aims to drive economic growth by 4.5-5% a year between 2022 and 2026.

Big hotel brands bet on all-inclusive resorts to counter Covid-19 slump
The Wall Street Journal
Big hotel companies are adding more all-inclusive resorts, betting that the pandemic will boost a business model that encourages guests to stay in one place.

Operators fret over B500 tourist fee
Bangkok Post
Tourism operators have raised concerns about the 500 baht fee to be collected from foreign tourists next year, worried that the timeline of this policy may not be appropriate for an industry in dire need of recovery.

PM outlines vision for 'Phuket transformation'
Bangkok Post
The government is gearing up to promote Phuket as a world-class destination, hoping to lure one million foreign visitors over the next six months and generating at least 60 billion baht in revenue.