Thailand Property Development Industry News

The supply of new condominiums in Bangkok grew a massive 182 per cent last year compared to 2009, however fears of an oversupply appear to be subsiding as developers moderate the number of new developments they are offering to the market.

Raimon Land announces positive earnings for 2010. Sales growth and rationalization last year are platform for sustainable cashflow outlook and share rerating.

Pruksa Real Estate has introduced eight new detached homes projects in the first two months of 2011 and hopes to lead the country’s market in the segment in two years time. Pruksa currently controls 21 per cent of the THB70 billion (US$2.3 billion) per year detached house market.

Trinity Property Fund will start trading on The Stock Exchange of Thailand (SET) under the symbol of “TNPF” from March 8, making it the second property fund to be listed on the SET this year.

Thai listed developer Supalai recently revealed its plan to launch 16 new projects in Bangkok and expected to generate THB17 billion (US$ 557 million) in sales this year.

With strong demand for townhouses in the Wongwaen-Bang Khae area, Pruksa Real Estate has introduced a three-storey townhouse development, "Connect Up3 Wongwaen-Bang Khae", worth Bt699m. The project comprises 233 units on 22 rai at a starting price of Bt2.68m per unit.

W Bangkok has been topped off and construction is on schedule for completion mid 2012.

Asia's real-estate investment market saw encouraging growth in the total value of sales transactions in the second half of 2010, thanks primarily to abundant liquidity and the continued inflow of capital, according to global real-estate services firm Colliers International.

Thailand’s largest retailer Central Group recently announced plans to develop a THB13 billion (US$427.4 million) Central Embassy complex on a 9-rai plot of land acquired from the British Embassy.

Bangkok property buyers and investors will be converging on the Thai capital’s Siam Paragon shopping centre for a Luxury Property Showcase.