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Thai Developers Look New Opportunities Abroad

By on Jul 13, 2010 in Property News

Thai property developers are starting to look at overseas markets for new opportunities because of the intense competition in the Thai market, according to international property consultants CB Richard Ellis (CBRE).

The first target markets are Vietnam and Cambodia because of their proximity, level of development and the local competition is not as well developed as the more mature markets such as Malaysia.

There are a wide range of opportunities in the Vietnamese and Cambodian markets from city centre office, retail, residential and hotel developments through to the growing resort markets in these countries as well as industrial estate opportunities.

Entering new markets is always a challenge.  Rules and regulations governing property development and ownership are different.  The dynamics of each of the property sectors in these countries is also different to Thailand.

Accurate information on regulations, supply, demand, pricing, competitors and prospects for each property sector is essential for a Thai developer to succeed in a new market.

CBRE is well placed to advise Thai clients on how to enter these markets.

CBRE established offices in Vietnam in 2003 and now has over 200 real estate professionals operating out of offices in Ho Chi Minh City, Hanoi and Danang.

The research, consulting and marketing teams have already worked with a large number of overseas developers who have successfully built projects in both the main cities and resort areas.

CBRE established and office in Phnom Penh in 2009 and have been advising clients on the Cambodian market for many years before the office opened.  Mr. David Simister, Chairman of CBRE Thailand, Cambodia and Vietnam advised the Australian Government on the acquisition of a new site for their Phnom Penh Embassy in 2005.

“There is very little publicly available information on the Vietnamese or Cambodian markets.  CBRE sells and leases properties in these countries everyday which is why we have the best market data on actual transactions and future supply.  This enables us to provide our clients with the best market data giving them the best knowledge to enable them to succeed,” said Mr. James Pitchon, head of research and consulting for CBRE Thailand.

There are opportunities for Thai developers to acquire or build properties in both Cambodia and Vietnam but accurate market research will be critical in order to succeed.

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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