Indonesia to build new capital called ‘Nusantara’ to replace sinking Jakarta Indonesia is building a new capital… because Jakarta is sinking. According to Indonesia’s President Joko Widodo, the new capital will be built in East Kalimantan Province on the island of Borneo and named “Nusantara,” which means “an archipelago nation.” The House of Representatives approved […]
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Thai property developers Noble Development and SC Asset Corporation plan record launches SET-listed developers Noble Development and SC Asset Corporation are upbeat about their business prospects and overall market sentiment this year, with both planning record property launches. In 2022, Noble plans to launch 18 new projects worth a combined 47.7 billion baht, while SC […]
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Thailand cuts property transfer fees from 2% and the mortgage fee from 1% to 0.01% for both to stimulate economy The government cuts fees for ownership transfers and mortgage of properties to 0.01% on Tuesday. Deputy government spokeswoman Traisuree Taisaranakul said the Royal Gazette yesterday (Jan 17) published announcements by the Interior Ministry to reduce […]
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Phuket’s long-delayed 3.98-kilometre Kathu-Patong expressway receives final approval to build The cabinet approved 14.6 billion baht on Tuesday to build the long-delayed 3.98-kilometre Kathu-Patong expressway with investment via public-private partnership (PPP). Government spokesman Thanakorn Wangboonkongchana said the Kathu-Patong expressway aims to ease traffic jams and support Phuket smart city development. Of the total, 5.79 billion […]
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Transport Ministry pushes for expansion of Bangkok’s Suvarnabhumi International Airport The Ministry of Transport is pushing for the expansion of Suvarnabhumi International Airport to prepare for more air travels. The decision came after a prediction by the International Air Transport Association (IATA) that the number of air travelers would reach 65 million people between 2024 […]
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Cabinet approves plans to attract long-stay foreigners to Thailand with long-term residence visas for up to ten years The Thai cabinet has approved, in principle, two ministerial announcements aimed at attracting four specific groups of foreigners to stay in Thailand for up to ten years, in the hope that they spend their wealth, invest or […]
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Blow for the Thai property industry as Government declares no more reduction in land and buildings tax Arkhom Termpittayapaisith, Thailand’s Finance Minister announced on January 17th that his ministry is ruling out the likely hood of any reduction in 2022 in the land and buildings tax. Apparently, relief had already been granted for two years […]
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Vietnam’s leading renewables firm Trung Nam Group Launches $220M Offshore Wind Farm Vietnam’s leading renewables firm Trung Nam Group has launched its first offshore wind farm amid the Southeast Asian country’s drive for clean energy, the company said on Monday. The 5 trillion dong ($220.17 million) farm in the southern province of Tra Vinh has […]
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Property developers want extension of Thailand’s 90% reduction in the rate of the land and building tax to be extended Real estate developers are calling for an extension of the 90% reduction in the rate of the land and building tax as the impact on the sector remains severe. Issara Boonyoung, chairman of the committee […]
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Consortium starts construction on $2.3 billion Hai Lang LNG-to-power project in Vietnam READ ALSO: South Korean Consortium Expected To Win $4.8 Bn LNG Power Plant Order In Hai Lang, Quang Tri Province, Vietnam A consortium consisting of one Vietnamese and three South Korean firms has officially started building a $2.3 billion LNG-to-power project in Vietnam’s […]
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