Top Thailand Property News Of The Week 7 Mar 2022

The top residential and commercial real estate news of the week - 7 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.

Sansiri set to launch 28 low-rise projects
Bangkok Post
SET-listed developer Sansiri is bullish on low-rise housing developments, planning to launch 28 new projects worth a combined 39 billion baht in 2022, more than twice as many as last year.

Online Thai store launched in Taiwan
Bangkok Post
The Commerce Ministry is scheduled to open a new online outlet called TOPTHAI Store on Taiwanese e-commerce platform PChome Store on March 29 to tap Taiwanese buyers, focusing initially on fashion and bio-, circular and green (BCG) products.

Fairmont hotel operator halts future Russia projects while keeping hotels open
Bloomberg
Accor SA, the French operator of Fairmont, Banyan Tree and Sofitel hotels, said it’s keeping its 57 Russian locations open while suspending future developments in the country following the invasion of Ukraine.

CBRE exceeds 2021 target with THB 12 billion in residential sales
CBRE Thailand
CBRE, the leading international property consultant, revealed that total sales of residential properties were over THB 12 billion in 2021 despite the COVID-19 pandemic, with a great response for luxury single detached houses and super luxury houses due to the changes in clients’ preferences and purchasing behavior.

WHA Rayong 36 ready to support investors in EEC
Bangkok Post
SET-listed WHA Corporation, Thailand's largest developer of built-to-suit logistics facilities, has launched a new smart and eco-friendly industrial estate in Rayong to serve investments under the Eastern Economic Corridor (EEC) scheme.

Vimarn Suriya looks to Saudi market
Bangkok Post
Vimarn Suriya Co, the developer of the luxury mixed-use project Dusit Central Park, wants to tap potential buyers in Saudi Arabia through roadshows in the Middle East before the summer holiday.

Platinum Group appoints CBRE to lease office building Pier 111
CBRE Thailand
The Platinum Group Public Company Limited, led by Executive Vice President – Marketing, Ms. Suthita Chotjurangkool and CBRE (Thailand) Company Limited, led by Managing Director Ms. Roongrat Veeraparkkaroon, signed a contract appointing CBRE Thailand as the sole agent in the lease of Pier 111, a prime office space at the mixed-use project, the Market Bangkok.

Goodbye Londongrad: Russian oligarchs put pressure on U.K. property market
The Wall Street Journal
Over the past two decades, London’s high-end property market was overrun by the global superrich led by Russian oligarchs who did so many big, brash deals that locals called the city Londongrad.

Centara eyes 100 new hotels
Bangkok Post
Centara Hotels and Resorts wants to open 100 new hotels within five years, spanning Thailand, neighbouring countries, China and the Middle East, with most of them under management agreements.

BJC preps B15bn for growth
Bangkok Post
Despite persistent Covid-19 outbreaks and a war in Eastern Europe, consumer goods producer Berli Jucker Plc (BJC) announced yesterday a budget of about 15 billion baht to expand its business and develop new retail models this year.

State feels existing EEC target can be met
Bangkok Post
The rapid spread of Omicron infections and the escalating Russia-Ukraine conflict are expected to affect the country's investment prospects this year, but the government remains optimistic that investment in its flagship Eastern Economic Corridor (EEC) can reach 2.2 trillion baht over the next five years as projected.

Over half of hotel operators post losses
Bangkok Post
Some 63% of hotels recorded losses as average occupancy lingered below 30% despite the renewed Test & Go scheme, according to the hotel business operator sentiment index for February.