y Kanana Katharangsiporn, Bangkok Post, Thailand
Jan. 12--Property tax incentives due to expire this March should be extended to boost the industry and the overall economy, says Issara Boonyoung, president of the Housing Business Association.
Extending the breaks beyond March 28 would help combat negative factors which are likely to crop up this year, said Mr Issara.
Potential headwinds for the Thai economy and the property sector include political instability, the Map Ta Phut case and a possible hike in interest rates in the second or third quarter of the year, he said.
Although megaprojects under the Thai Khem Kaeng infrastructure package should boost new property developments, higher demand would also likely increase construction material prices.
Thursday, January 14, 2010
Wednesday, January 13, 2010
INTERVIEW-UPDATE 1-Thai Preuksa sees 30 pct 2010 sales growth
New projects to drive 2010 revenue up 30 pct
* To launch 48 projects worth 30-35 bln baht this year
* Plans 1.5-2.0 bln baht of bonds to fund expansion (Add details, quotes)
BANGKOK, Jan 11 - Preuksa Real Estate PCL, Thailand's second-largest housing firm by market value, said on Monday it expected revenue growth of at least 30 percent this year, more than forecast, as it launched new housing projects.
Seventeen projects launched in the fourth quarter of 2009 and another 48 new projects worth 30-35 billion baht this year would help push up growth, chief financial officer Somboon Wasinchutchawal told Reuters.
"This year's growth will mainly come from new detached houses and town house projects which were already released late last year," Somboon said, adding they would realise revenue of 9-10 billion baht this year.
* To launch 48 projects worth 30-35 bln baht this year
* Plans 1.5-2.0 bln baht of bonds to fund expansion (Add details, quotes)
BANGKOK, Jan 11 - Preuksa Real Estate PCL, Thailand's second-largest housing firm by market value, said on Monday it expected revenue growth of at least 30 percent this year, more than forecast, as it launched new housing projects.
Seventeen projects launched in the fourth quarter of 2009 and another 48 new projects worth 30-35 billion baht this year would help push up growth, chief financial officer Somboon Wasinchutchawal told Reuters.
"This year's growth will mainly come from new detached houses and town house projects which were already released late last year," Somboon said, adding they would realise revenue of 9-10 billion baht this year.
Saturday, January 9, 2010
Thai property market lagging Asia: REIC
(Source: Bangkok Post)trackingBy Bangkok Post, Thailand
Jan. 7--The property market should improve this year due to progress on new mass
transit routes and greater capital flows, but mitigating political risk will remain a key factor in ensuring a smooth recovery, says the Real Estate Information Center (REIC).
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
Economies such as China, South Korea and Taiwan, recovered quickly due to an increased influx of capital seeking the higher returns available in the region. The rise in East Asia's stock markets outperformed those in other regions, enabling investors to reap the gains and make investments in property, said the report.
Jan. 7--The property market should improve this year due to progress on new mass
transit routes and greater capital flows, but mitigating political risk will remain a key factor in ensuring a smooth recovery, says the Real Estate Information Center (REIC).
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
Economies such as China, South Korea and Taiwan, recovered quickly due to an increased influx of capital seeking the higher returns available in the region. The rise in East Asia's stock markets outperformed those in other regions, enabling investors to reap the gains and make investments in property, said the report.
Thursday, January 7, 2010
Thai property market lagging Asia
The property market should improve this year due to progress on new mass transit routes and greater capital flows, but mitigating political risk will remain a key factor in ensuring a smooth recovery, says the Real Estate Information Center (REIC).
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
More capital will flow into the region throughout 2010, especially in China whose economy is larger than Germany's and is now ranked third in the world behind the US and Japan.
China's economy is likely to exceed Japan's within the next two years, the report said.
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
More capital will flow into the region throughout 2010, especially in China whose economy is larger than Germany's and is now ranked third in the world behind the US and Japan.
China's economy is likely to exceed Japan's within the next two years, the report said.
Thai property market lagging Asia
The property market should improve this year due to progress on new mass transit routes and greater capital flows, but mitigating political risk will remain a key factor in ensuring a smooth recovery, says the Real Estate Information Center (REIC).
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
Economies such as China, South Korea and Taiwan, recovered quickly due to an increased influx of capital seeking the higher returns available in the region.
The rise in East Asia's stock markets outperformed those in other regions, enabling investors to reap the gains and make investments in property, said the report.
Stimulus packages implemented in China and other countries including Thailand, aided the rebound.
More capital will flow into the region throughout 2010, especially in China whose economy is larger than Germany's and is now ranked third in the world behind the US and Japan.
China's economy is likely to exceed Japan's within the next two years, the report said.
The strength of East Asia's economy in part buoyed the Thai economy last year, helping the country to better cope with upheavals caused by the global financial crisis, the report said.
Economies such as China, South Korea and Taiwan, recovered quickly due to an increased influx of capital seeking the higher returns available in the region.
The rise in East Asia's stock markets outperformed those in other regions, enabling investors to reap the gains and make investments in property, said the report.
Stimulus packages implemented in China and other countries including Thailand, aided the rebound.
More capital will flow into the region throughout 2010, especially in China whose economy is larger than Germany's and is now ranked third in the world behind the US and Japan.
China's economy is likely to exceed Japan's within the next two years, the report said.
Tuesday, January 5, 2010
Thai risk from Dubai crash
Thailand's direct exposure to the Dubai market crash has been very limited, but a greater impact could come from deteriorating global sentiment if the situation worsens, says international property consultant Colliers International Thailand.
Dubai World, the emirate's largest corporate entity, announced on Nov 25, 2009, that it would seek a "standstill" agreement on its US$80 billion in debts.
The news sent shockwaves through the global financial community and questions were raised in relation to Thailand's exposure to firm and its offshoots.
The first Islamic bond payment of US$3.59 billion for its real estate arm Nakheel, due on Dec 15, was covered by the Dubai government thanks to a $10-billion loan from Abu Dhabi.
Dubai World, the emirate's largest corporate entity, announced on Nov 25, 2009, that it would seek a "standstill" agreement on its US$80 billion in debts.
The news sent shockwaves through the global financial community and questions were raised in relation to Thailand's exposure to firm and its offshoots.
The first Islamic bond payment of US$3.59 billion for its real estate arm Nakheel, due on Dec 15, was covered by the Dubai government thanks to a $10-billion loan from Abu Dhabi.
Sunday, January 3, 2010
Maintaining liquidity key to sector's growth, say officials
Major players of the UAE's construction sector gave a mixed opinion about the prospect for 2010.
While some major contractors expressed confidence that stalled projects would restart, others said it would take another eight to twelve months for the situation to get back to 2007- 2008 levels.
This year will see a slight increase in the prices of building material prices. The leading players in the UAE construction industry are concerned that maintaining liquidity in the market is essential in 2010, and that otherwise might affect the smaller subcontractors' and suppliers' ability to continue doing business in the market.
Consolidation, restructuring and diversification of their portfolio risks will be the name of the game in the coming year, they said.
According to a recent report by Economist Intelligence Unit (EIU), lower oil production allied with slowing construction activity depressed the UAE economy in 2009. It is expected to rebound by nearly four per cent in 2010.
While some major contractors expressed confidence that stalled projects would restart, others said it would take another eight to twelve months for the situation to get back to 2007- 2008 levels.
This year will see a slight increase in the prices of building material prices. The leading players in the UAE construction industry are concerned that maintaining liquidity in the market is essential in 2010, and that otherwise might affect the smaller subcontractors' and suppliers' ability to continue doing business in the market.
Consolidation, restructuring and diversification of their portfolio risks will be the name of the game in the coming year, they said.
According to a recent report by Economist Intelligence Unit (EIU), lower oil production allied with slowing construction activity depressed the UAE economy in 2009. It is expected to rebound by nearly four per cent in 2010.
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