21 - 25 August 2023: Weekly Thailand Property News

Thavisin's Transition: From Sansiri's Helm to Thailand's Premier

Srettha Thavisin, former CEO of Thailand's prominent real estate firm, Sansiri, has been elected as Thailand's 30th Prime Minister. His transition to political leadership from Pheu Thai Party was marked by transferring significant Sansiri shares to his daughter, Ms. Chananda Thavisin. His political journey coincides with the return of ex-Prime Minister Thaksin Shinawatra. With Sansiri's longstanding global presence and Thavisin's deep-rooted expertise in finance, his political tenure is closely watched.

Reference: https://www.thansettakij.com/real-estate/574128

Ananda MF Asia Asoke Co. Unveils Action Plan Following Supreme Court's Verdict

Following the Supreme Administrative Court's decision on July 27, 2023, Ananda MF Asia Asoke Co., Ltd. presents a structured roadmap to address project-related concerns. The plan encompasses solutions such as acquiring additional land, seeking a trial at the Administrative Court, collaborating with MRTA, and suggesting legislative reforms. Concurrently, the firm is engaging with financial institutions to support co-owners.

Reference: https://www.bangkokbiznews.com/property/1084861

Sansiri Addresses Concerns over Sukhumvit Land Procurement

Sansiri Public Company Limited has responded to allegations regarding illicit land purchase methods, emphasizing the lawful acquisition of a Sukhumvit Road plot. The firm assures that the purchase was made at a competitive rate and handled transparently. Sansiri further disassociates itself from Siwa Land Co., Ltd., and Crown City Limited, stressing its adherence to transparency and legal standards.

Reference: https://www.bangkokbiznews.com/property/1084591

Thailand's Real Estate Landscape: Housing Stagnation Amid Soaring Rentals

Political upheavals, economic strains, and increased interest rates mark Thailand's current real estate scenario, as detailed in DDproperty's Q3 2023 report. While Bangkok's housing price index registers minimal growth, it reveals a significant year-on-year decline. Rising construction costs, high household debt, and dwindling consumer confidence are contributing factors. However, DDProperty's General Manager, Mr. Wittaya Apirakwiriya, underscores the mounting trend towards property rentals, highlighting the younger generation's preference for flexible lease agreements.

Reference: https://www.bangkokbiznews.com/property/1084986

Pruksa Holding Q2 2023: Stellar Profits Spearheaded by Real Estate and Healthcare Ventures

In Q2 2023, Pruksa Holding announced an impressive 141% increase in net profits, largely due to its real estate and healthcare endeavors. Sales in the real estate sector saw an uptick, with projects like "Plum Condo New West" leading the way. On the healthcare front, partnerships and expansions underscore a commitment to holistic healthcare solutions. Pruksa's acknowledgment by the Thaipat Institute for its ESG practices further cements its dedication to sustainable initiatives.

Reference: https://www.thansettakij.com/real-estate/573924

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