Siam Piwat Co, the 50-year-old operator of Siam Center, is joining with Charoen Pokphand Group and Magnolia Quality Development Corporation (MQDC) to develop a megaproject worth 35 billion baht on the Chao Phraya River opposite Mandarin Oriental Bangkok Hotel.
Tipaporn Chearavanont (left), CEO of Magnolia Quality Development Corp, shakes hands with Chadatip Chutrakul, CEO of Siam Piwat, for the start of three joint ventures they plan on the Thonburi side of the Chao Phraya, calling it ‘the largest local private commercial development’. Continue reading Siam Piwat spearheads B35bn Chao Phraya project
20% growth targeted after restructuring
The listed developer NC Housing Plc (NCH) targets an annual growth in a range of 20% to 25% and plans to enter the condominium market this year after restructuring its finances by decreasing short-term loans.
Managing director Somchao Tanterdtham said the company recorded higher sales last year which increased its financial liquidity. Debt-to-equity ratio continued dropping to 0.58 time as at the end of 2011 from one time two years ago.
“Our financial status is strong enough to develop condominium project,” he said. “It will be a learning curve for us in the high-rise segment. When the condominium market booms, we will be ready for it.”
Its condominium projects will be valued at 200-500 million baht each, with unit prices of 1-2 million baht.
This year, the condominium investment will be only 10-20% of the total. Continue reading NC Housing plans to enter condo market
Despite widespread concern of an oversupply in the condominium market, a property bubble remains impossible, says Suphin Mechuchep, managing director of the property consultant Jones Lang LaSalle Thailand.
“The Thai property market is active, particularly condominiums in inner Bangkok, despite domestic political problems and sluggish Western economies,” she said at the Post Today Investment Expo 2012, which runs until tomorrow at CentralPlaza LardPrao.
“Thai property prices are one-tenth those in Hong Kong and Singapore, while the Thai economy remains strong and people have cash on hand. Property purchases are a way to compete with inflation, especially if its an investment for rent.” Continue reading JLL denies Bangkok condo bubble
With the new Bangkok city plan not yet finalised, land deals for condominium development should be postponed.
Supalai Plc managing director Atip Bijanonda said it was not worth buying plots for new projects, as planning requirements may end up being stricter in some areas.
“Developers should be very cautious. High-rise construction earlier allowed in some locations may be restricted,” he said. Continue reading Supalai warns of risks ahead of new city plan
Ban Lae Suan Fair, Dec 17-25, 9.30am-9pm, at Challenger Hall, Impact Muang Thong Thani.
Your house has been underwater for weeks, and still no ideas about renovation?
Then the forthcoming Ban Lae Suan Fair at Challenger Hall, Impact Muang Thong Thani, from Dec 17-25, is an event you can’t afford to miss.
House renovation is one of the highlights of this annual event, which was postponed from earlier this month due to the floods. Visitors can seek free consultation from experts and obtain manuals on how to protect your house from flooding.
The fair will also feature 10 of the best innovative ideas for home owners. The winning blueprint this year demonstrates how owners of detached houses can make money by turning their outer wall into an outdoor media advertising space.
The 10 finalists, mostly green concepts, also feature new gardening ideas including growing plants inside the house to cool down the temperature and conceal eyesores. Or growing flowers beneath a dish drainer so the water is reused to irrigate the flower pot and the area is kept dry.
Also available will be home decor items, designed to fit limited space.
- Published In Bangkok Post: 23/11/2011 at 12:00 AM
- Newspaper section: Life
Furniture and home furnishings are expected to flourish next year, as people seek to replace old pieces ruined by the floods, driving the industry to grow by up to 10%, or 60 billion baht.
A customer checks out furniture at a fair held in mid-March this year. WISIT THAMNGERN
The local market is also set to reap the benefits from the government’s first-home tax breaks, said Kasikorn Research Center. Continue reading Industry poised for gain
The Treasury Department is preparing to announce an average increase of 20% in land valuations nationwide but it has not yet taken the impact from current flooding into account, says director-general Naris Chaiyasoot.
However, officials suggested the floods may give property developers an opportunity to buy land at lower cost in some areas where owners want to sell because they have faced flooding or fear future flood risk.
As well, general investors will see this as an opportunity to acquire cheap land to sell at a profit in the future. Continue reading New land valuations likely to rise by 20% on average
With about 150,000 houses from more than 1,000 projects in Greater Bangkok and Ayutthaya damaged by flooding, transfers this year will decline by 20%, says the Real Estate Information Center.
Most of the flood-damaged homes are on Phetkasem Road, Bang Kae, Nakhon Pathom and Samut Sakhon. In older projects, the ground level is often lower than road level and they face deeper floodwaters than newer projects, the REIC said. Continue reading REIC: Housing transfers sinking with floods