Thailand Real Estate

While stock markets the world over continue their bearish ways, real estate is becoming an increasingly attractive form of investment. In Asia, the market has seen major growth recently, and industry experts anticipate the expansion to continue into the future, according to Property Wire.

Central Pattana's president and chief executive Kobchai Chirathivat spoke with The Nation's Pichaya Changsorn recently about his management principles and the current restructuring and business expansion strategy of Thailand's largest retail developer. The following is an edited excerpt from the interview.

CP All, the Thai operator of 7-Eleven convenience stores, has frozen its planned expansion into China and Vietnam and now intends to promote its outlets in the domestic market strongly to drive annual gross margin by at least 0.3 per cent.

Central Department Store (CDS) will reopen its Lat Phrao branch on Sunday with more than 100 brands and services aimed at stylish and trendy customers.

First-time car buyers will get tax waivers of up to Bt100,000 each and first-home buyers will be eligible for a zero mortgage rate for five years, Deputy Finance Minister Boonsong Teriyaphirom said yesterday.

Six-figure homes will sell like hotcakes after the Bt15,000 salary policy is implemented."This will create a new market for residential projects priced up to Bt1 million," Opas Sripayak, managing director of LPN Development, said yesterday.

A surge in interest from Russian buyers and expats working in Hong Kong and Singapore has seen property sales in Phuket speeding up.

Association of Thai Travel Agents estimates tourists handled by member companies at Suvarnabhumi Airport could reach 3.5 million trips this year on the back of growing confidence in Thailand's stability.

Central Plaza Hotel Plc (Centel) says it will enter the European market as part of its 4.5-billion-baht expansion plan from 2012-15.

The Thai retail industry recorded an active second quarter with significant developments outside of Bangkok and a hypermarket consolidation.