Thailand Real Estate News
Thailand 6th Most Popular Chinese Real Estate Investment
Moving up from 8th most popular to 6th most popular Chinese Real Estate investment location is Thailand. The Chinese market is often seeking to make investments abroad to balance their portfolios and in some cases conceal and diversify any profits made in their domestic market. Pattaya is the lead destination with Bangkok coming in second.
Most purchases are for second holiday or vacation homes, with most Chinese buyers taking a longer term view of the political situation than many Western buyers. Economic buoyancy and deepening trade ties are seen to be the key driver with Chinese customers. Within three years Thailand is expected to be China’s number one trade partner.
The recent ASEAN trade pact puts Chinese investors within access to over 500 000 000 inhabitants.
This raises the incentive for both Chinese owned factory production and second holiday homes in the Kingdom.
Pruksa Real Estate Profits Up
Mr.Thongma Vijitpongpun founded Pruksa Real Estate in April 1994 with an initial founding capital of 50 000 000 Baht. Pruksa Real Estate Plc tends to focus on condominiums, town houses and single detached houses in suburban areas of the metropolis.
Their condominium brands are ‘Ivy Condominium’ ‘Seed Condominium’ ‘The City Ville Condominium’ and ‘The Tree’. Their Townhouse brands are ‘Bann Pruksa’ ‘Pruksa Ville’ and ‘The Connect’. Single Detached House Brands are ‘Passionate’ ‘The Planet’ and ‘Pruksa Village’.
Q2 Revenue is up 19.4% to 10.8 Billion Baht with profits at 1.87 Billion Baht versus 1.41 Billion Baht year on year. Most of this profit has come from a robust return to health in the Thai Residential market with strong figures seen in the low to middle Townhouse brands and Condominium developments such as The Campus in Ladprao1, The Privacy Ratchada Suthisan and the Single Detached developments of The Palm Pattanakarn. Plans by Pruksa to explore the overseas market have been suspended to focus on the domestic market.
The office in India has been retained by the proposals to invest in Vietnam and Indonesia has been suspended. Capital exchange issues have also created some problems on their Maldives plans which are now on hold.
Thai Property Awards 2014
The shortlist for the Thai Property Awards was announced in August 2014. The ceremony will take place on 11th September 2014 at the prestigious Conrad Bangkok Hotel at All Seasons Place on Wireless Road in the heart of the Diplomatic and Embassy crowd.
The event has over the years gone from strength to strength and this year will no doubt see more of that winning performance in action.
The quality of completion escalates each year with much debate being had between the judges on who should qualify for the shortlist. Absolute World Group and Magnolia are the two groups expected to scoop most awards, with most local competition coming from AP (Thailand) and Major Development PCL. Red Mountain Hua Hin has been shortlisted against SLM Real Estate and Absolute World.
A special recognition award has been created this year for corporate social responsibility.