Property sector in Bangkok still booming From its business district to leafy suburbs, new condominiums are sprouting almost daily across Bangkok, but developers and investors alike seem little concerned about a property bubble developing. The country’s real estate stocks have been on the boil with the index of property stocks up 28 per cent in the last three months and many listed companies have raised profit forecasts, confident of capitalising on what they say is insatiable local demand.
Rail talks get Cabinet go-ahead The Cabinet has approved in principle a framework for negotiations between the government and China on a high-speed-train project, which is part of a planned transnational railway linking China to Southeast Asia.
Green can be lean, says property expert Going green is not only about saving energy, but also using environmentally friendly construction and decoration materials and minimising waste from construction and fitting processes, says Suphin Mechuchep, managing director of the property services firm Jones Lang LaSalle. “Energy-efficient features should not result in a significant increase in the cost of developing a new building, as much can be achieved through good design and orientation,” she said. Steve Chan, head of engineering and operations solutions for Jones Lang LaSalle in Hong… Read more »
Centara has signed more management contracts for new brands Following the announcement that Centara Hotels & Resorts has become the largest hotel chain in Thailand, this award winning hotel chain has revealed that it has sealed a management contract with the Nova Group to manage three properties in Pattaya and one property in Bangkok.
Pace ups investment by B1.5bn By Kanana Katharangsiporn, Bangkok Post, Thailand After an initial investment of 2.5 billion baht in its super-luxury MahaNakhon condominium, Pace Development Co Ltd plans to inject another 1.5 billion to start construction by early 2011. CEO Sorapoj Techakraisri said the company’s additional investment resulted from changing requirements from financial institutions that required the company put more equity into the project. The banks reduced project loans from 55% of the total construction cost to 45%, or from 7 billion baht to 6-6.5 billion. Before… Read more »
Troubled rapid bus route gets deadline The Bt2-billion Bus Rapid Transit (BRT)’s Sathorn-Rajapreuk route – which was trial-launched in late May – is reported to be facing many problems, and public dissatisfaction has prompted another four routes in the pipeline to be suspended and possibly cancelled. The Bangkok Metropolitan Administration (BMA) has asked for another four months for the BRT Sathorn-Rajapreuk route to operate before making a decision on whether to cancel it and the other four routes.