Phuket Property Watch Your Eyes on Real Estate in Thailand
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Phuket Property Watch here with your wind-down to the weekend. Today’s news focuses on Thailand-adjacent markets and beyond. Our first item is a Business Times review of some important perspectives in the region. A Bloomberg profile suggests that development of real estate in Vietnam in general and property in Ho Chi Minh District 1 specifically has led to the area generating increased focus from investors recently with promise of more interest to come, in large part to projects like Novaland Group‘s Grand Manhattan. At nearly 40 stories tall this development is following suit on the industry trend towards mixed-use and improved lifestyle projects, with a planned hotel & restaurants in addition to the range of apartments available including some of Vietnam’s most expensive properties. Competition of late between Novaland and CapitaLand Ltd. has worked to further improve interest in luxury property in Hanoi, not just Ho Chi Minh property. Our article continues with a mention from Mansion Global that in addition to Vietnam, some of the hot SE Asia investments right now are property in Cambodia and Thailand. Apparently PricewaterhouseCoopers agrees on the value of property in Thailand, especially in Phuket, Chiang Mai and Bangkok as they are popular for tourists as well, although they save the most praise for Singapore real estate. PWC even refers to the money flowing into these markets as
an embarrassment of riches
so all the more reason to keep working those investment angles.
DoubleTree by Hilton‘s moves in our next piece from Hotel News Resource are an example of a group working the investment angles on a level higher than just property in SE Asia. DoubleTree is looking to rapidly grow its portfolio. Now standing at 560 properties in 45 countries, they are currently planning 200 new hotels worldwide, with nearly half of those in greater Asia Pacific. DoubleTree in 2018 held 50 Asia Pacific properties and this year will open 14 anew as part of the first wave of expansions, with seven in China, two each in Indonesia and Thailand (Bangkok & Phuket), and one more in Australia, New Zealand and Sri Lanka. With its 50th anniversary in 2019, this should prove a fabulous year for Hilton and the resort communities it boosts.
