Thailand Property Development Industry News

Concerns about an overheating condominium market were allayed in the first quarter of 2011, with a fall of around 46% of new launches when compared to the previous quarter.

Singapore headquartered City Development has budgeted US$600 million (THB18 billion) to develop residential projects and take over hotels and resorts in Thailand and other Asian markets, according to The Nation.

K Village and Crystal Park are two retail malls in Bangkok that are very different. Large open areas, low – slung buildings and lots of parking area make malls like this popular very quickly.

Low interest rates on bank deposit savings accounts are driving investment demand in the residential market, where investors are seeking annual yields as well as capital appreciation.

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.

Ministry of Tourism and Sports released its latest tourists arrivals data for Thailand revealing a 14.9% increase for the first three months on 5,356,935 visits.

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

The government's land and property tax bill has passed final legal screening and is ready for parliamentary consideration, but politics will remains the key obstacle.

Hotels.com’s latest Hotel Price Index, issued late last week, claims Asia gained a 4% increase in revenue per room per night last year when compared with 2009.