Top Thailand Property News Of The Week - 6 Dec 2021

The top residential and commercial real estate news of the week - 6 December 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.

Renovation shines a light on Isan identity
Bangkok Post
SET-listed Central Retail Corporation (CRC) has unveiled a revamped Central Khon Kaen following a mega-transformation focused on highlighting the Isan identity.

Thailand to push for 'more open' trade
Bangkok Post
Thailand is committed to helping the region regain its former economic strength after the Covid-19 crisis by promoting a more open approach to trade, investment, and connectivity, said permanent secretary for foreign affairs Thani Thongphakdi.

Proud planning to diversify
Bangkok Post
MAI-listed developer Proud Real Estate wants to diversify to low-rise houses and put a greater emphasis on Bangkok, with at least three new projects worth a combined 5.8 billion baht next year.

Industrial park rallies to press on
Bangkok Post
Locals affected by the proposed Chana industrial park project in Songkhla have vowed not to return home until their demands are met, as they urged the government to do a Strategic Environmental Assessment (SEA) on the project and end all litigation against 37 activists.

Bank of Thailand expects economy to return to pre-Covid levels in 2023
Bangkok Post
The economy is expected to return to pre-Covid-19 levels in the first quarter of 2023 and its recovery will be slower than some other countries in the region, the governor of the Bank of Thailand (BoT) told a business forum on Thursday.

100% committed! Rasa TWO, a new grade A office building on Petchaburi Road, is officially opened
CBRE Thailand
Leading property developer RASA Ventures Co., Ltd. recently launched Rasa TWO, a new grade A office building on Petchaburi Road. The Rasa TWO project has been designed with the concept of “Timeless Workspace Office” and 100% of its space has been committed.

Thai tourists prepare for weekend
Bangkok Post
Thai travellers are shrugging off concerns about the Covid-19 Omicron variant, with a recent survey indicating local tourists would generate 5.72 billion baht in the upcoming long-weekend holiday.

Residential demand returns to Phuket
CBRE Thailand
Four months after kicking off, the Phuket Sandbox program has brought some life back to the island after having to depend solely on the domestic market for almost two years. According to the Tourism Authority of Thailand (TAT), there were a total of 59,689 international tourists who visited under the Sandbox scheme from 1 July to 30 October 2021.

Foreign demand still tepid
Bangkok Post
The country's reopening on Nov 1 marked the first step towards rebuilding the battered tourism industry, but the process will likely take several years as international demand is still sluggish and a new Covid variant just emerged.

Hospitality operators urged to adapt
Bangkok Post
Operators in the hospitality industry have been recommended to rethink their business strategies to serve new trends in tourism as the global pandemic is changing the way people travel.

Hong Kong developer to offer 300 homes at 50% discount to market price
Reuters
Hong Kong property developer New World Development (0017.HK) said on Monday it plans to sell 300 new homes at a discount of roughly 50% to the market price in the city's first subsidised private housing project.

'Metaverse' hype fuels booming digital property market
Bangkok Post
The idea of spending millions on non-existent land may sound ludicrous -- but feverish predictions of a virtual reality future are pushing investors to bet big on digital real estate.