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Property firms look abroad

By on Aug 20, 2012 in Property News

Thailand’s property firms are interested in expanding their investment overseas, seeing an opportunity to generate high returns.

They are interested in expanding their investment in Asean, Europe and the USA.

For example, Property Perfect Plc established Property Perfect International Pte Ltd in Singapore, planning to use this firm to expand investment in Asean.

Land & Houses Plc established Land & Houses USA Inc with plans to invest in property projects that generate rental to the company in the long term. This firm focuses on investment in California.

Sansiri Plc established Sansiri Global Investment Pte Ltd in Singapore in 2009. This company holds 100 per cent in Sansiri Investment (2009) Ltd in Guernsey. Sansiri Investment (2009) Ltd has bought residential projects in the UK since 2009, a time when residential projects in the UK dropped when faced with the negative impact from the crisis in the USA in the year 2008. The project ready for sale.

Pruksa Real Estate Plc started to expand their investment overseas in 2010 by focusing on the Asia market including Vietnam, India and the Maldives.

TCC Land Co Ltd, owned by beverage tycoon Charoen Siriwattanabhakdi, has expanded their investment overseas by focusing on hospitality businesses. The group now has hospitality businesses in UK, USA, Japan, Singapore and Australia.

Property Perfect Plc’s CEO Chainid Ngowsirimanee said the company decided to set up its new company in Singapore with plans to expand investment overseas by focusing on Asean.

“We are negotiating with our partners to acquire property projects in Asean and will finalise the deals within this year,” he said, but he declined to give more details because the deal is in the negotiating process.

Adisorn Thananan-narapool, senior executive vice president of Land & Houses Plc, said the company focused on property that generates rental income in California, believing that the property market there has bottomed and has potential to rise in the future.

“When we expand our investment overseas, we target return on investment that is higher than in the domestic market,” he said.

Sansiri Plc’s Sretha Thavisin said the company expands investments overseas when it sees an opportunity to generate high returns. After investing in the UK, the company is interested in the USA, especially New York.

Pruksa Real Estate Plc’s CEO Thongma Vijitpongpun said investment in overseas has risks, but the company targets to be in the top 10 property firms in Asean.

“AEC also opens business opportunity for our expansion in Asean in the long term,” he said.

Meanwhile, Mark Collins, head of residential at CBRE UK, said Asian buyers have been particularly active in the new building market and are inevitably the common factor in all of the fastest-selling schemes. “Many buyers are entering their fourth year in the market, so are highly educated and astute. As a result, there may be a growing distinction between the best and the rest over the course of the next two years.

“Opportunities for central London residences are emerging in new countries. Thai investors have significant buying power, but are still relatively new to the central London market so tend to stick firmly to the well-known ‘Monopoly board’ areas of Mayfair, Belgravia and Knightsbridge,” he said.

Source : The Nation 20 August 2012

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