Top Thailand Property News Of The Week - 13 Sep 2021
The top residential and commercial real estate news of the week - 13 September 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.
Hotels pin hopes on Bangkok revival
Hotels hope the reopening of Bangkok in October and domestic stimulus campaigns will boost the occupancy rate from single digits to 15-20% in the upcoming high season.
AQ hotels see occupancy rates plummet
Alternative quarantine (AQ) hotels are enduring their lowest occupancy rates, amid signs that infection levels have peaked and speculation that the quarantine period could be reduced.
Agency urges reworking
The government is being advised to speed up developing infrastructure for science, technology and digital as well as promote private investment in R&D next year to spur the economy and upgrade Thailand's competitiveness.
Marks & Spencer blames Brexit as it closes 11 French stores
Marks & Spencer has said it is closing 11 of its French stores because of problems supplying them with fresh and chilled foods since Brexit. The UK retail giant said all 11 franchise stores it operated with partner SFH in France would shut by the end of this year. M&S said supply chain problems since Brexit had made it "near impossible" to maintain standards of food supply.
Evergrande fallout could lead to financial contagion in the Chinese economy
One of China’s largest property developers, Evergrande, is facing a liquidity crunch that could put pressure on the real estate company to continue as a going concern. As a standalone, Evergrande’s possible demise wouldn’t be seen as the end of the world, however, the financial contagion caused could ripple through the Chinese economy.
Bangkok property market to improve in 2022
Bangkok's residential market will improve next year as supply and demand will be more balanced, while foreign buyers, particularly Chinese, are still interested in Thai property, according to property experts.
USD 1.8 billion in APAC data center investment set for record year
Data center investment in Asia Pacific is set for a record year, with USD 1.8 billion in direct data center investments transacted in the first half of 2021, according to the latest research from CBRE, a leading international property consultant, while interest in data center market for Thailand grows not without challenges for operators in locating sites that enable special land requirements such as high utility consumption and fiber optic connectivity.
Breaking down impact of long-term visa to HNWI foreigners on the Thai residential sector
In an effort to revive the economy the cabinet on Tuesday approved major revisions to the existing immigration policy in an effort to attract high net worth individuals (HNWI). The target group includes HNWI, HNWI retirees, remote workers and skilled talents to boost the country’s smart electronics and robotics industry.
OR looks to food and beverage
PTT Oil and Retail Business Plc (OR), Thailand's largest oil trader by volume, plans to establish more business ties with retailers looking for new sales channels at PTT petrol stations following mall closures during the recent lockdown.
Govt to entice rich expats
The cabinet has greenlighted an economic stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals from overseas to help revive the economy post-Covid-19.
EXCLUSIVE China's Miniso to double U.S. stores, add NY 'flagship' as pandemic slashes mall rents
Chinese retailer Miniso Group (MNSO.N) will open a 'flagship' New York store and nearly double its U.S. outlets this year, betting post-pandemic shoppers on a budget will snap up cheap but fun goods for homes and work like $10 soft toy cats and $4 staplers shaped like avocados.
Tesco zero-waste trial launches at 10 stores in England
Supermarket chain Tesco is to trial its zero-waste shopping service at 10 stores in the East of England. Customers will be able to buy common household goods in reusable packaging that can be returned to the store to be used again. This follows a year-long online pilot where customers could order products and return packaging from their doorsteps.
CRC invests in e-commerce start-up
Central Retail Corporation (CRC) announced an investment in Mercular, an e-commerce start-up with strong sales in the hobby and lifestyle categories. CRC, through Power Buy -- an electronics retail business under the Central Retail Group -- said it would drive Mercular's growth using its retail ecosystem.