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Top Thailand Property News Of The Week 8 August 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.

August 12, 2022


The top residential and commercial real estate news of the week - 8 August 2022

United Airlines Puts Down Deposit on Flying Taxis
Bangkok Post
United Airlines Holdings Inc. has paid a $10 million deposit for 100 electric flying taxis, a sign that the airline is growing more confident in the nascent technology.

Pruksa expects to reach presales, revenue targets
Bangkok Post
Despite recording just one-third of its annual target in the first half, SET-listed developer Pruksa Holding Plc (PSH) maintained its 2022 presales and revenue goals of 31 and 33 billion baht, respectively, as it has confidence in its strategies and residential demand in the second half.

ICONSIAM plans new project
Bangkok Post
The owners of ICONSIAM will open a 4-billion-baht "Mixed-Use Lifestyle Town" opposite its existing shopping and housing development on the Chao Phraya River in the fourth quarter of this year.

Ministry rolls out 'Smart Grocery Plus' programme
Bangkok Post
The Commerce Ministry in partnership with 28 partners from both from the public and private sectors on Wednesday embarked on a "Smart Grocery Plus" programme to raise the competitiveness of local grocery shop operators amid stiffer competition in the domestic retail market.

FTI frets over looming minimum wage hike
Bangkok Post
The Federation of Thai Industries (FTI) does not agree with the Labour Ministry's plan to enforce a new minimum wage hike on Oct 1, which is earlier than originally anticipated, as businesses will be flooded with too many financial burdens, notably a rise in the Bank of Thailand's policy rate and higher electricity bills.

Centara in tie-up with AirAsia
Bangkok Post
Centara Hotels & Resorts has joined hands with AirAsia rewards, offering AirAsia members 40% off when booking all-inclusive packages at Centara Grand Island Resort & Spa Maldives and Centara Ras Fushi Resort & Spa Maldives.

Rayong villa project targets Europeans
Bangkok Post
SET-listed Grande Asset Hotels and Property Plc has launched the luxury villa project Amatara Residences Rayong with 61 units priced from 33 million baht to lure Europeans looking for a resort home and executives working in eastern provinces.

Lotus's expansion on track with B13bn to be invested
Bangkok Post
Ek-Chai Distribution System Co, the operator of Lotus's hypermarkets, is moving ahead with plans to allocate 12.5-13.5 billion baht this year to expand its business.

Walmart Explores Adding Streaming Video to Walmart+ Membership Program
The Wall Street Journal
Walmart Inc. WMT 0.96%▲ is looking to add a large video streaming service to its Walmart+ membership program as the retailer amps up its competition with Inc., according to people familiar with the situation.

Bangkok Metropolitan Administration to levy land taxes in full
Bangkok Post
The Bangkok Metropolitan Administration (BMA) is planning to fully collect land and building taxes on land used for agricultural purposes after landlords and property owners allegedly exploited tax cuts to avoid higher taxes, a source said.