ERAWAN: Center for sale
The Erawan Group plans to sell Ploenchit Center to SCB Asset Management for Bt1.4b to help improve its financial performance this year, said its chief financial officer, Kamonwan Wipulakorn.
Thailand Real Estate has proven a success story. Owning a Thai Property has been a rewarding investment for many, and there are positive signals that real estate in Thailand will continue to rise in value. Find the latest Thailand Real Estate News here.
If you are looking to familiarize yourself with the legalities and formalities of buying a Thailand property, please click here for our introduction to Thailand property.
The Erawan Group plans to sell Ploenchit Center to SCB Asset Management for Bt1.4b to help improve its financial performance this year, said its chief financial officer, Kamonwan Wipulakorn.
Luxury property developer Raimon Land has announced the forthcoming opening of Vue, a boutique fusion mall adjacent to The River, its prestigious development along the Chao Phraya. Located by The River's main road entrance on Charoen Nakorn Road, Vue will be completed by the end of the year, before The River's owners and tenants move in to their units during the course of 2012.
Thailand’s Asian Property Development (AP) is eyeing revenue growth of 25 per cent to THB17 billion (US$559 million) this year, with plans to launch 20 new projects focusing on both condominiums and low-rise developments.
Property firms have enjoyed a high rate of presales in the first quarter of this year despite the Bank of Thailand's measure limiting loans to 90% of the value of condominium units, which came into force on January 1. A survey by The Nation early this week found that the top 10 listed property developers recorded presales worth nearly Bt40 billion between January 1 and the middle of this month.
The Housing Finance Association expects growth in new home loans this year to slow to 8%, down from 9.2% last year, because of rising interest rates and cessation of tax incentives.
Second-hand units will see more demand. Housing prices are forecast to rise by at least 5% this year, reflecting the higher costs of construction, wages and land, says the Housing Business Association.
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.
ThaiVest is a free online resource and community for anybody living or wishing to live in Thailand aiming at being financially independent.
ThaiVest covers the following topics:
Thai Stocks
Property in Thailand
Start-up & Company Formation
Living in Thailand & Thai Culture
Thai Visa & Residency
Please note that Thailand’s rules and regulations are constantly changing and it is vital that you check with the Thai Authorities for updated information. Disclaimer: We do not take any responsibility for the accuracy and correctness of any information provided on Thaivest.com.
© Copyright 2007 - 2024 ThaiIVest I Thai Stocks & Investment I Terms of Use & Privacy I