Centara inks deals for hotels in Khao Yai and Vang Vieng, Laos #SootinClaimon.Com

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Centara inks deals for hotels in Khao Yai and Vang Vieng, Laos

Jan 18. 2021

By The Nation

Centara Hotels & Resorts, Thailand’s leading hotel operator, has expanded its footprint in Southeast Asia by inking hotel management agreements for one resort in Khao Yai, Thailand, and two resorts in Vang Vieng, Laos, adding 304 keys to its group portfolio.

In Laos, Centra by Centara Riverside Resort Vang Vieng (formerly Thavisouk Island Hotel) and Thavisouk Riverside Resort & Spa Vang Vieng, Centara Boutique Collection (formerly Thavisouk Riverside Hotel) are located on the opposite sides of the Nam Song River, connected by a private bridge linking the two properties.

The two rebranded riverside properties are expected to open in the fourth quarter this year after refurbishment programmes.

The Vientiane-Vang Vieng expressway, opened in December 2020, brings Vang Vieng within an hour’s drive of Luang Prabang.

“Signing this management agreement with Centara Hotels & Resorts represents a milestone for us. Since we started in 2002, we have grown alongside the destination to become the largest hotel operator in the city, and we are excited to leverage Centara’s international reach to present Vang Vieng to a wider audience,” said Bounsong Khammang, owner of Thavisouk Hotels & Resorts.

Thavisouk Hotel & Resorts was founded nearly two decades ago with just 40 rooms and today is the biggest hotelier in the city with more than 300 rooms.

Meanwhile newly added to the Centara Boutique Collection is Roukh Kiri Khao Yai Hotel, nestled amid the lush and mountainous Khao Yai National Park just three hours from Bangkok. This is Centara’s first hotel in Khao Yai.

The signings follow seven other management deals signed in 2020 by Centara for resorts in Myanmar, Oman, Vietnam and Thailand.

Four housing trends in 2021 #SootinClaimon.Com

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Four housing trends in 2021

Jan 18. 2021

By The Nation

Since the Covid-19 outbreak, lifestyle and living including business practices of today’s people have changed, with a “new normal” that requires social spacing, wearing masks, reduced contact, and keeping hands clean.

It’s not just the coronavirus outbreak that has created an impact on the present lifestyle. The lifestyle of modern people had already changed from the impact of technological developments, forcing everyone to adapt to advances in technology or digital disruption.

As a result, many businesses have had to adjust to keep pace and meet the needs of the changing customer groups. Real estate is no different from other businesses in terms of adjustments as the lifestyle, demands and consumer behaviour have changed. It requires development of products and services designed to accommodate the changing needs of customers. The marketer or housing developer has to analyse and predict trends including for construction in 2021. SCG analysed construction and housing trends for 2021 and found four factors that will influence and lead to changes.

1. Digital transformation

Bringing digital technology to be applied to all sectors is one of the key change parameters that are driven very quickly. This can be clearly seen by most people who have learned to use tools, technologies and online facilities for added convenience in their daily lives until it becomes a new normal.

2. Pay more attention to the living space

This trend emerged during the lockdown period when more people stayed at home than ever before. Home furnishings were made more livable and supportive of changing lifestyles. So, no matter how much the world has evolved and changed, housing is still an important fundamental factor and the safest place.

3. Well-being, an indispensable hygiene trend

The world is becoming more alert to hygiene, a trend that is in the interest of people of all ages and constantly growing rapidly. As a new way of living, seeing good health and well-being is vital as well as having a good and safe home.

In the meantime, Thailand still has to fully adapt to the ageing society in line with the people’s behaviour and pay attention to safety as the top priority.

4. Circular economy and environment

People are starting to pay attention to the environment, saving more energy or even on a circular economy for maximum efficiency.

Condo, office, shopping mall markets contract while demand grows for rental factories, warehouses #SootinClaimon.Com

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Condo, office, shopping mall markets contract while demand grows for rental factories, warehouses

Jan 14. 2021

By THE NATION

Most of the property markets in 2021, including condominiums, office space and shopping malls, are expected to contract due to the fallout from the Covid-19 pandemic, but the warehouse and factory rental markets will thrive due to rapid expansion of e-commerce, property experts said.

Nexus Property Marketing Ltd managing director Nalinrat Jaroensuphong said the condominium market in 2021 will continue to contract despite an increasing supply of new units – 33,000 to 38,000 – compared to 21,000 in 2020.

“This is due to about 20 projects postponing their openings from last year to this year,” he pointed out. “We estimate that the total condominium supply throughout the year will be 674,000 units.”

Nalinrat said new condo projects this year would focus on smaller units at cheaper prices to match the current economic situation and the trend of buying a home in outer Bangkok compared to buying a condo in the city.

“However, if the government opens the country to foreign tourists from the third quarter, the economy should start to recover and demand for condos should rise slowly,” he added.

Nexus estimates that most of the condominium projects to open this year will have starting prices of between Bt1.2 million and Bt2.5 million per unit, with the total sale price decreasing by 5 per cent, compared to 4 per cent in 2020.

Meanwhile, Nexus Real Estate Advisory Ltd managing director Theerawit Limthongsakul said demand for office space and space at shopping malls has declined since the first wave of Covid-19 last year as many companies still want their employees to work from home to avoid the risk of contracting the virus.

“Last year, office and commercial space occupancy dropped from 94 to 91 per cent, compared to over 95 per cent in the last 7-8 years before Covid-19,” he said.

“However, demand for rental factories and warehouses has been increasing for the past 4-5 years, thanks to the rapid growth of e-commerce,” he said.

“It is estimated that the rental factory and warehouse markets have available space of 4 million square metres each. Rented factories could generate income of Bt200/sqm/month, while rented warehouses could earn up to Bt150/sqm/month,” he added.

AP condo projects enrolled in Elite Card programme #SootinClaimon.Com

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AP condo projects enrolled in Elite Card programme

Jan 12. 2021Vittakarn Chandavimol, right, chief of corporate strategy and creation, AP (Thailand) Pcl, and Somchai Soongswang, president of Thailand Privilege Card Co Ltd, recently signed a memorandum of understanding.Vittakarn Chandavimol, right, chief of corporate strategy and creation, AP (Thailand) Pcl, and Somchai Soongswang, president of Thailand Privilege Card Co Ltd, recently signed a memorandum of understanding.

By The Nation

Real estate developer AP (Thailand) Pcl and Thailand Privilege Card Co Ltd, operator of Thailand Elite membership card, recently signed a memorandum of understanding for a special collaboration on the Elite Flexible One programme.

Under the agreement, AP Thailand will enroll 8 condominium projects into the programme to cater to foreign investors interested in property investment in Thailand where they will enjoy a number of privileges from this special programme.

The company will enroll ready to move in projects into the programme which are: Life Ladprao, Life Asoke – Rama 9, Life One Wireless, Aspire Sukhumvit – Onnut, Aspire Asoke – Ratchada, Aspire Rattanathibet 2 as well as two projects that will join the programme soon, namely Life Asoke – Hype and Life0 Ladprao Valley.

Govt offers hefty discount for takeover of Dhara Devi Hotel #SootinClaimon.Com

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Govt offers hefty discount for takeover of Dhara Devi Hotel

Jan 10. 2021

By The Nation

The government is wooing investors to take over Dhara Dhevi Hotel Chiang Mai by setting a low reserve price for the auction.

The Legal Execution Department will open the auction for the property next month at a price of Bt2.116 billion.

The Court of Appeal had earlier dismissed a petition for rehabilitation of the hotel, as a result the hotel has to go into bankruptcy.

Recently, it was reported that the department had announced the auction of Dhara Dhevi Hotel on February 18, at the Chiang Mai Legal Execution Office, with a starting bid of only Bt2.116 billion. The overall price would be less than half what Inter Far East Energy Corporation Pcl had paid in 2015 for the acquisition, which involved the final price of Bt2.52 billion but exceeded Bt4.3 billion when outstanding debt was taken into account.

Dhara Dhevi Hotel Chiang Mai opened in 2002 as a 5-star hotel with ancient Lanna style architecture, located at Tha Sala subdistrict in Chiang Mai province.

Spread over an area of ​​approximately 153 rai (24.48 hectares), with 123 rooms, it is located in the middle of Muang Chiang Mai district.

The hotel completely shut down on November 18, 2020, after business was hit badly due to the Covid-19 outbreak.

Singha Estate sells stake in NVD #SootinClaimon.Com

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Singha Estate sells stake in NVD

Jan 06. 2021Naris Cheyklin, chief executive officer of Singha EstateNaris Cheyklin, chief executive officer of Singha Estate

By The Nation

A group of Nirvana Daii (NVD) shareholders led by Sornsak Somwattana on Wednesday confirmed they had purchased Singha Estate’s entire shareholding in NVD of 711,855,320 shares, or 51.56 per cent of the total stock of NVD, at Bt2.52 per share.

Sornsak said: “We are very confident in the enormous potential of Nirvana Daii and look forward in the years ahead to building on this company’s exceptional track-record as a developer of some of the finest residential properties in Thailand.”

Said Naris Cheyklin, chief executive officer of Singha Estate: “Singha Estate is structuring its portfolio of investments to accelerate growth, while remaining committed to maintaining a significant presence in Thailand’s residential development sector. During the course of this year, we plan to unveil some exciting new initiatives that will rapidly advance the company in this direction.”

Noble reveals Bt45bn property development plan for 2021 #SootinClaimon.Com

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Noble reveals Bt45bn property development plan for 2021 (nationthailand.com)

Noble reveals Bt45bn property development plan for 2021

Dec 22. 2020

By The Nation

Real estate firm Noble Development Plc (NOBLE) has unveiled plans to develop 11 new projects worth a total Bt45.1 billion in 2021.

Citing high purchasing power among local and overseas customers, Noble is confident its revenue next year will exceed Bt11 billion with pre-sales of Bt16 billion. This would pave the way to becoming a top-5 property developer in Thailand over the next three years (2021-2023), said the company.

Chairman and co-chief executive officer Thongchai Busrapan said 2021 will be a year of growth and huge investment for Noble.

The Bt45.1-billion plan is the largest since the firm was established in 1991. Targeted revenue of Bt11 billion is 10 per cent up on this year’s target of Bt10 billion, while the Bt16 billion pre-sales target is a jump of 146 per cent from Bt6.5 billion this year.

The 2021 plan comprises five solo projects, five joint ventures with BTS Group Holdings Plc, and one joint venture with Hongkong Land.

Four condominium projects, both high rise and low rise, are scheduled to launch in the first half of next year – the Bt5.4-billion Noble Form Thonglor, the Bt0.7-billion Nue Noble Centre Bangna, the Bt10.7-billion Embassy at Wireless, and the Bt1.9-billion Nue Condo at Don Mueang.

The other seven projects will be launched in the second half of the year, comprising condominiums, semi-detached houses, and townhouses, as part of Noble’s strategy to diversify its customer base locally and internationally.

The company has also partnered with U City Plc, an affiliate of BTS Group Holdings, to jointly develop Bangkok high-rise and low-rise condominiums, semi-detached houses, and townhouses on a 50:50 basis in Suksawat, Rat Burana, Khu Khot, and Rama IX roads worth a combined Bt23 billion.

The new projects are planned after the first joint venture project worth Bt2 billion on Ratchada-Lat Phrao Road has already sold more than 50 per cent of units. The four new projects are close to mass transit lines.

Noble has also formed a joint venture company with BTS Group Holdings and Saha Pathana (SPI) Inter-Holding Plc to acquire land around Project Thana City Bang Na (Noble 40 per cent, SPI 41 per cent and BTS 19 per cent) with registered capital of Bt1 billion.

The company said it was continuing to focus on development of residential projects along mass transit lines.

Although the Covid-19 pandemic had seen some customers delay their purchases, Noble still enjoyed a 37 per cent share of Bangkok’s condominium market during the first nine months of 2020, Thongchai said.

The company has set a 2021 capital expenditure budget of more than Bt9 billion to support the investment plan.

In November, Noble sold debentures worth Bt1.25 billion to investors, with subscriptions exceeding expectations.

The company also plans to issue 4:1 ratio warrants for existing shareholders to purchase ordinary Noble shares, to support business expansion in the next three years.

Moreover, Noble said it should be able to complete a par split process from 3 baht to 1 baht per share early next year, which would help increase trading liquidity for investors and also boost Noble’s eligibility for the SET100 Index.

Long-stay visas proposed for foreigners who buy Bt3m condos #SootinClaimon.Com

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Long-stay visas proposed for foreigners who buy Bt3m condos (nationthailand.com)

Long-stay visas proposed for foreigners who buy Bt3m condos

Dec 18. 2020

By The Nation

Thai residency visas for foreigners who invest as little as Bt3 million in property is among five proposals being considered by the Finance Ministry.

The proposals were put forward by Thai real estate associations in a bid to lift a property sector slumping under the impact of Covid-19.

The Housing Business Association, Thai Real Estate Association and Thai Condominium Association (TCA) sent the proposals to Finance Minister Arkhom Termpittayapaisith on December 9, TCA deputy chairman Chairat Thampeera revealed on Thursday.

Under current rules, foreigners must spend at least Bt10 million on property to be eligible for a residency visa.

However, under the proposed three-tier visa system, foreign purchasers of condos worth Bt3 million-Bt5 million would get a five-year visa.

Meanwhile buyers of Bt5 million-Bt10 million condos would get 10-year visas, and those who bought condos for more than Bt10 million would be granted permanent residency.

The other four proposals are targeted at Thai property buyers.

The first is to cut ownership-transfer and mortgage fees to the lowest rate until December 31, 2021 to reduce the cost of buying both new homes and second-hand houses.

The second is to relax government loan-to-value (LTV) mortgage enforcement to provide opportunities for people with purchasing power to invest in property. The real estate associations say home-loan providers already have strict LTV rules.

The third is to extend the land-and-buildings tax cut for another two years until the end of 2022 to help relieve ownership burdens.

The fourth is a cash-back campaign and credit increase from Bt50,000 to Bt100,000 per person until the end of 2021 to encourage first-time buyers to make their purchases.

IHG to launch 3rd Crowne Plaza hotel in Bangkok #SootinClaimon.Com

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IHG to launch 3rd Crowne Plaza hotel in Bangkok (nationthailand.com)

IHG to launch 3rd Crowne Plaza hotel in Bangkok

Dec 03. 2020

By The Nation

InterContinental Hotels Group (IHG) has signed a landmark franchise agreement with Siamese Asset to expand its Crowne Plaza brand in Bangkok.

The new Crowne Plaza Bangkok Rama 9 hotel will open in 2025, close to the capital’s new central business district.

The announcement marks the first time IHG has completed a franchise agreement in Thailand, as they expand their relationship with long-term partner Kew Green, a franchisee of more than 40 hotels in the UK.

Kew Green has undertaken a joint venture with real estate developer Siamese Asset to bring the landmark deal to fruition.

“This project is the first of its type for IHG in Thailand and made possible by working with Siamese and Kew Green, who bring together the expertise of one of our long-term partners, Kew Green, and local real estate experts, Siamese Asset,” said Serena Lim, vice president of development for IHG, Southeast Asia and South Korea.

This signing demonstrates the continued growth of the Crowne Plaza brand in Thailand, having announced the signing of Crowne Plaza Bangkok Grand Sukhumvit last month, expanding the brand’s footprint to three hotels in the capital. IHG said it is continuing to seek further expansion for the brand across the country as the upscale segment continues to grow.

Kajonsit Singsansern, CEO of Siamese Asset, added that to ensure smooth progress, Kew Green will be setting up local infrastructure in Bangkok, which will be supported by its UK operation who are familiar with working with IHG’s systems and brand standards.

Crowne Plaza Bangkok Rama 9 will be positioned in a mixed-use development – Siamese Rama 9 – which features high-end apartments, office space and a mall. It is located 25 kilometres from Suvarnabhumi Airport and 22km from Don Mueang Airport.

Dusit expands to Singapore with luxury Laguna resort #SootinClaimon.Com

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Dusit expands to Singapore with luxury Laguna resort (nationthailand.com)

Dusit expands to Singapore with luxury Laguna resort

Dec 02. 2020

By The Nation

Dusit International has expanded into Singapore with the opening of the Dusit Thani Laguna Singapore in the heart of the Laguna National Golf & Country Club.

Comprising 198 contemporary rooms and suites, plus eight pavilions with private pools, and located 10 minutes by car from Jewel Changi Airport and 15 minutes from downtown, the resort is the first in Singapore to offer direct access to award-winning golfing facilities.

Opening its doors to guests on Friday (December 4), the elegant resort has been designed to cater to golfers, local families, and business and leisure travellers, and meet demand for a wellness and destination getaway.

The Singapore branch is Dusit’s fifth resort to open this year, following dusitD2 Salwa Doha, Dusit Beach Resort Guam, ASAI Bangkok Chinatown, and Dusit Thani Wellness Resort Suzhou. It also comes hot on the heels of recent signings to manage upcoming hotels in India and Japan.