Pruksa Real Estate Public Company Limited (PS) is proud to unveil its remarkable Q3/2011 performance. A noteworthy presale value of 7,684 Million Baht was achieved, with 6,493 Million Baht in total revenue, and, 761 Million Baht in net profit being obtained. In comparison with the same period last year, despite a slight drop in the [...]
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Thailand’s expats get duped in purchasing property
Residential sales to expats in Pattaya and Phuket plummeted after a Swedish television show alleged that Swedes have been swindled in property purchases. According to the television show, the Swedes had paid for their villas but hadn’t received the keys to their properties. Andrew Dummond’s website outlines a case against three men, who according to [...]
Pruksa slashes targets for 2011
Leading property firm Pruksa has lowered its revenue target for this year by Bt7-Bt8 billion from Bt30 billion, taking into account the negative impact of the floods in the current fourth quarter. The company’s presales target has also been dropped to Bt30 billion from Bt42 billion, Pruksa president and chief executive officer Thongma Vijitpongpun told [...]
Atlantis Resort Pattaya unveiled
Pattaya’s largest resort condominium project was unveiled on Saturday night at the launch party held at the Centara Grand Ballroom at Wong Amat, Pattaya. The Mayor of Pattaya, Khun Ittipon Khunpluem, cut the ribbon to reveal the giant model of the project, he went on to welcome Blue Sky’s commitment to Pattaya, and praised the [...]
Thai floods create demand for short-term rentals in Hua Hin
Sansiri’s property management unit Plus Property Co Ltd has been approached by over 150 Thai clients in late October when the floods approached the capital, applying for short rental contracts in the resort city of Hua Hin. The units that have been shown most interest are those for a stay of under 3 months, with [...]
Demand for low-rise homes expected to drop
DBS Vickers Securities (Thailand) said the flood crisis would chiefly affect Property Perfect, Land & Houses, Quality Houses and Pruksa Real Estate, which have low-rise developments in those areas. Meanwhile, LPN Development could benefit the most, given that fears of severe floods recurring in Bangkok in the future could sway demand towards condominiums in the [...]
Floods may see shift in Bangkok residential market
For Bangkok condominium developers, every sky has a silver lining. While the condominium market has severely curtailed in Q3 following widespread floods and the ongoing doubts regarding the government’s policy regards to incentives for first home buyers, experts foresee a strong comeback once the floods have receded and the government’s policies are properly in place. [...]
Banana Walk announced for Patong beachfront
The owners of Patong Hotel and Banana Disco (Patong Beach Hotel Phuket Ltd.) have announced their ‘EAT,’ ‘SHOP’ and ‘PARTY’ plans for the new lifestyle shopping mall they are developing for a May 2012 opening on Patong Beach on Phuket. Aptly named Banana Walk, the 3-level beachfront shopping complex will feature a “modern, tropical” design [...]
Restructuring Ratchada
New business and luxury residential locations are springing up in Bangkok and investors are wasting no time in buying up the land. Ratchadaphisek Road is attracting companies such as American International Insurance (AIA) and the Thailand Stock Exchange. The construction of new offices on the north-south strip has a market value of THB80 million (US$ [...]
Developers put off launches – Third-quarter results better than expected
The financial results of Thailand’s top 10 stock-exchange-listed property firms show continued growth in the third quarter of this year, despite a lengthy “quiet” period as home-buyers delayed the transfer of finished residences while waiting for the government to finalise its first-home stimulation scheme. Meanwhile, developers have opted to delay the launch of some new [...]
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