Thai Construction Industry

Thai liquor tycoon Charoen Sirivadhanabhakdi’s TCC Land now holds 100 per cent ownership in its former joint-venture subsidiary TCC Capital Land after buying 40 per cent of it for THB2.33 billion (US$77.82 million) from its partner CapitaLand in Singapore. TCC Land formerly held 60 per cent of TCC Capital Land.

Despite some impact from mortgage lending curbs on the high-rise market, Supalai Plc remains confident in condominium demand with the launch of a new riverside project worth 5 billion baht, expecting sales of one-fifth on the launch date.

Pattaya gained the highest occupancy averages, January through to the end of April’s Songkran festival, of all the regions monitored by Thai Hotels Association, according to eastern chapter president, Bundarik Kusolvitya.

The listed developer Raimon Land Plc plans a new subsidiary this year that will serve as a property agent to its own customers.

The Pattaya property market has potential to stage a full recovery this year, spurred by 15 billion baht in spending planned to improve transport and utilities services, communities and the environment.

Thailand's fast-growing property market runs a risk of facing a slowdown after its robust growth last year, according to a real-estate expert.

Bangkok contains the most office space of any ASEAN city, including Singapore, according to research by Colliers International throughout Asia Pacific.

The first community mall developed by relatives of whisky tycoon Charoen Sirivadhanabhakdi will open in downtown Bangkok in May.

Amid a recovery in the UK property market, Sansiri Plc will launch its first project in London this year - six apartment units worth a combined 600 million baht.The company is looking at New York as its next destination, with a net profit target of 15%.

While world markets for office space continue their slow recovery from the global financial crisis, Bangkok is found to contain more office space than other ASEAN commercial citiesm including Singapore, according to international property agencies.