Top Thailand Property News Of The Week - 9 Aug 2021

The top residential and commercial real estate news of the week - 9 August 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.

Stores face stockpiling challenges
Bangkok Post
Stockpiling of essential goods at home appears to be on the rise as a result of the ongoing lockdown, curfew measures and daily reports of rising Covid-19 infections and death tolls.

Hotels braced for even tougher times ahead
Bangkok Post
The hotel industry is preparing for the downturn to continue in the second half of this year after seeing revenue drop to below 10% of pre-pandemic levels, according to a report by the Tourism and Sports Ministry.

WHA eyes digital future on posting strong results
Bangkok Post
WHA Group is confident about its future prospects after the country's largest developer of built-to-suit logistics facilities announced a second-quarter net profit of around 260 million baht and pivoted its focus to digital technology.

Two IT retailers report upsurge in second-quarter profits
Bangkok Post
IT product distributors Com7 and Jay Mart reported double-digit revenue growth in the second quarter, buoyed by their move to open new stores outside of malls that were shuttered during the pandemic.

Residential stagnation set to continue
Bangkok Post
The residential housing market remains stagnant and will take some time to rebound due to poor homebuyer sentiment, according to a prominent developer.

Inequality, the biggest issue
Bangkok Post
Inequality will become a key post-Covid-19 problem and addressing the issue must be put on the national agenda, Srettha Thavisin, CEO and president of SET-listed Sansiri Plc says. He also suggests seven ways to bolster the economic recovery and help the country move forward.

CPN profit, revenue increases despite tough conditions
Bangkok Post
Central Pattana Plc (CPN) earned profits of 1.27 billion baht on total revenue of 6.36 billion baht in the second quarter of 2021. The company said both revenue and profits grew compared to the same quarter last year when the country had stricter lockdown measures in place, but its earnings reports continue to be heavily affected by the Covid-19 situation.

Dusit Thailand's revenue increases 38.4% in Q2
Bangkok Post
Dusit Thailand reported total revenue of 587 million baht in the second quarter of 2021, a year-on-year increase of 163 million baht, or 38.4%. Net losses were 376 million baht, a 17% improvement on the same period in the previous year. Revenue in the first half of 2021 stood at 1.9 billion baht, up 15.3% year-on-year.

Mixed Results for Thailand’s Industrial and Logistics Sector
CBRE Thailand
The Thai industrial and logistics property sector has been proclaimed as the preferable market in these uncertain times for developers and investors. CBRE, an international property consultant, reveals that while the industrial sector has fared better than other commercial property sectors, it has not all been plain sailing.

IEAT boasts of 138% revenue gain
Bangkok Post
The Industrial Estate Authority of Thailand (IEAT) saw its revenue during the first nine months of its fiscal 2021 increase by 138% year-on-year to 130 billion baht, thanks to more investment in industrial estates, especially in high technology to improve factory operations.

Housing developer sentiment marks big downturn in Q3
Bangkok Post
As the outbreak continues to escalate, housing developer sentiment for the next six months is expected to reach its lowest point in the third quarter of 2021 since the first quarter of 2009, with non-listed firms showing the greatest concern.

Beauty industry not looking so good
Bangkok Post
Padapassorn Padapiladdhanun, 42, one of Thailand's leading fashionistas, used to spend 100,000 baht per visit to malls on beauty products during the first wave of the Covid-19 pandemic.