Top Thailand Property News Of The Week - 9 April 2018
13 Apr 2018
The top residential and commercial real estate news of the week - 9 April 2018
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.
King Power scales up with MahaNakhon
DUTY-FREE operator King Power Group plans to open a shop in MahaNakhon after spending Bt14 billion to buy a range of assets associated with the landmark development – including the observation deck on what is now Bangkok’s tallest tower – from Pace Development Corporation Plc (Pace), the company's chief executive Aiyawatt Srivaddhanaprabha said.
CEO says Pace has the means to proceed with 4 luxury projects
Pace Development Corporation Plc looks set to continue construction of four luxury projects worth more than 20 billion baht after securing 14 billion baht from the sale of assets at the country's highest building, MahaNakhon, to duty-free retailer King Power International Group.
Owners of older buildings urged to comply with life-saving fire regulations
Expert says Bangkok tragedy could have been avoided with an alarm system. OWNERS OF older buildings have been urged to improve their fire protection systems to meet current standards, as many do not comply with life-saving regulations.
Healthy condo price growth in outskirts
Growth in selling prices for new condo units in Nonthaburi province outstripped growth in Bangkok for the first time in the first quarter of 2018, owing to a drop in condominium supply along the Purple Line.
Phase 2 of MRT plan blueprint to be ready in August
Initial blueprints for the second master plan of mass rapid transit development in Bangkok and its metropolitan area are set to conclude this August, Transport Minister Arkhom Termpittayapaisith said.
Hilton deepens push into region
The Asia Pacific and Southeast Asia remain a key growth engine for Hilton, said Paul Hutton, vice-president, operations, for the hotel group in Southeast Asia.
AP offers cashless payment
Listed property firm AP (Thailand) Plc is partnering with Kasikornbank to launch its latest service - Cashless Payment. The payment system offers the creation of “Personal QR Code” in every transaction of the purchase process of an AP residence.
Condo launches mark brisk quarter
The property market enjoyed strong growth in the first quarter of this year, led by a 35 per cent jump in the number of condominium units released in Bangkok from the year-earlier period, said Surachet Kongchepp, a property market researcher.
Consumers upbeat on exports, tourism
Consumer confidence edged up in March, buoyed by growing exports and strong tourism, after dropping the previous month. The latest survey by the University of the Thai Chamber of Commerce (UTCC) said March's consumer confidence index stood at 79.9, up from 79.3 in February.