Top Thailand Property News Of The Week - 22 Nov 2021
The top residential and commercial real estate news of the week - 22 November 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.
Travel agents urge state to delay new fee
A new fee to be imposed on international tourists should be postponed until the travel industry fully recovers, as the country faces headwinds during this high season, according to the Association of Thai Travel Agents (Atta).
Central and Robinson allots B5bn for growth
Central Retail Corporation (CRC), the SET-listed retail arm of Central Group and the country's biggest mall operator, plans to allocate 5 billion baht to open new department stores and renovate existing ones along with technology in the year to come.
High hopes for 'land bridge' project
The Transport Ministry said the proposed land bridge megaproject, which will connect Chumphon on the eastern coast of the Gulf of Thailand to Ranong on the Andaman Sea, will become a major transit port, with a capacity rivalling Hong Kong.
Drive to woo Chinese investors to EEC
The Eastern Economic Corridor (EEC) Office wants more Chinese businesses to invest in the area to facilitate industrial development that is kinder to the environment, in partnership with China-based bank ICBC (Thai).
New Year prospects raise hoteliers' spirits
Hoteliers are banking on a new flow of Indian arrivals and the relaxation of restrictions on alcohol sales as well as events to lift New Year sentiment. Marisa Sukosol Nunbhakdi, president of the Thai Hotels Association (THA), said the average occupancy for Bangkok hotels might increase from 20% to 30% next month, except for those along the Chao Phraya River which could get around 40% for the New Year market.
Ministry, BoT rule out using drastic measures
The Finance Ministry and the Bank of Thailand (BoT) have both made clear that they will not use drastic fiscal and monetary measures in mitigating the impact of the prolonged Covid-19 pandemic as such extreme measures might affect economic stability.
GH Bank to extend aid measures to next year
Government Housing Bank (GH Bank) plans to continue to provide assistance measures to its pandemic-hit customers next year under the guidelines of the Bank of Thailand (BoT), said senior executive vice-president Pongsak Kumnuansiri.
Fortune aims to attain hotel revenue of B1.5bn by 2029
Fortune Hotel Group, the hospitality arm of CP Land, has rolled out a long-term strategic plan to increase hotel revenue to 1.5 billion baht by 2029 from 52 properties, targeting the budget segment to attract domestic travellers.
Social distancing shaping the future of new stores in non-mall locations
Retailers seem to be the ones inevitably suffering from the ever-changing measures to contain the outbreak which started in early 2020. CBRE, a leading international property consultant, reports that social distancing protocols like temporary closures of shopping malls, shortened hours of operation during curfew to other restrictions especially for food retailers with reduced operating capacity, are shaping the future of new stores in non-mall locations.
AWC allots B3.43bn for wellness project
Asset World Corporation Plc (AWC), Thailand's leading integrated lifestyle real estate group, plans to allocate 3.43 billion baht to develop an integrated wellness project comprising luxury hotels and residences, scheduled to open in 2026.
The great shopping reset: how the pandemic helped fix the retail industry
The Wall Street Journal
The Covid-19 pandemic was supposed to deliver a knockout punch to department stores and specialty retailers. Instead, many of them are bouncing back healthier.