Investment is continuing to pour into Thailand from overseas developers and property-fund managers with the hospitality industry in traditional holiday locations attracting the lion´s share of foreign projects, according to a recent study carried out by The Nation.
The study also found that foreign companies, both on their own and via joint venture with domestic construction firms, have shrugged off the political and economic uncertainty of recent years and earmarked some Bt20 billion for further investment this year.
Among the biggest players to commit to Thailand´s property industry is Singapore-based Pacific Star International, who has formed two joint-venture firms with Asian Property Development to build two Bangkok condominium developments, one on Sathorn Soi 12 and the other on Ratchadaphisek Road, at a cost of Bt6 billion. The Nation also revealed that Hong Kong´s Concord Property Group has plans for an integrated property development worth up to Bt40 billion in the Pinklao area.
Singapore´s Banyan Tree Group has also ploughed massive sums into Thailand´s burgeoning property industry. In a further demonstration of faith the Kingdom the group set up a centre in Phuket where it trains service staff for use in it´s resorts and hotels elsewhere in the world. Another big investor is Hong Kong Real Estate International, which has invested some Bt18 billion in residential developments with various partners to date.
It is not just developers from other Asian countries investing in Thailand – a number of firms from the US and Europe are lining up to invest, predominantly, in the Thai hospitality business in tourist destinations such as Phuket, Koh Samui, Pattaya and Chiang Mai.
by Robert Carry / Property Report
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment