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A Wish List for the New Government

By on Jul 04, 2011 in Video

Published on Bangkok Post dated 3 July 2011 by Aliwassa Pathnadabutr, Managing Director of CB Richard Ellis Thailand.

The property industry is one that many past governments have neglected and left to fend for itself, although it is a crucial element of the economy and forms the basis of many other businesses. A boost in the industry will assist in job creation and stimulate related industries such as tourism, banking, construction, raw materials, etc. As today is election day, we have prepared a checklist for whoever forms the incoming government to consider.

INCREASE DEMAND FOR OFFICE SPACE

Prior to 2004, demand for office space ranged from 200,000 to 300,000 square metres per year. However, in 2005 demand dropped to below 100,000 square metres and reached the bottom in 2009 at 46,000 square metres.The office sector is stagnant and lacks the stimulus to grow, but it is an important sector that directly affects other property sectors and offers jobs for new graduates. The majority of office tenants are multinationals, which create not only job opportunities and transfer of technology, but also rental demand from expatriate tenants for apartments and condominiums.

This is an extract from the article “A Wish List for the New Government”, to read more please click here.

Aliwassa has been the Managing Director οf CBRE Thailand for a number of years. As a Thai national, Aliwassa is extremely knowledgeable about the sale of property in Thailand, specifically large scale high value condominium developments largely in Bangkok.

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