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Thailand Construction Companies Doing More Business Abroad

By on Jan 08, 2016 in Property News

Increasing investment overseas is a growing trend for construction and property firms in Thailand.

“We have been expanding our investment abroad since 2010 as part of our aim to boost annual revenue to Bt100 billion by 2020. This is also a way to learn how to do business overseas to balance our portfolio,” said Thongma Vijitpongpun, president and chief executive of Pruksa Real Estate.

Land and Houses, Sansiri, Supalai, TCC Land Co, CP Land and Singha Estate have also been investing outside Thailand in residential, hospitality and office segments. A good example is Singha Estate who have taken over a hotel in Britain in a deal worth Bt2.25 billion.

Italian-Thai Development (ITD) and Ch Kamchang were the first construction firms to go into other Asean nations.

“Demand for construction of infrastructure projects in neighbouring, will grow strongly when the Asean Economic Community becomes effective” said the chairman of Ch Kamchang’s executive board. “After it’s initial success in in Laos we will explore opportunities in Myanmar and then will study doing business in other countries”.

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Source: The Nation December 30th 2015

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