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Colliers International is committed to bringing you the latest commercial property research from around Thailand as it breaks.
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"Kabinburi" New High Potential Industrial Zone in the East
18 Nov, 2011
Colliers International Thailand has been appointed to be the leading agent for sale of land in Kabinburi Industrial Zone, a high potential industrial zone in the East of Thailand. This Industrial Zone is located only 165 km. east of Bangkok with convenient access to the deep sea port and also close to Suvarnnabhumi International Airport.
Kabinburi Industrial Zone is situated on 4,048 rai (1,600 acres) in Prachinburi which is suitable for factories or domestic and import-export distribution centers. The Industrial Zone is allocated to 3 zones; industrial, commercial and residential. The major industrial zone covers over 2,530 rai (1,000 acres) with complete facilities; logistic, supply and electricity system, drainage system, waste management and security system. Apart from the main industrial zone with total area of 2,530 rai (1,000 acres), the Industrial Zone is equipped with a well allotted commercial zone including petrol station, banks and restaurants. The residential zone comprised of a service apartment for both Thai and foreigns visitors and managements on their business stay and the Forest Lake & Village, peaceful residential units with full facilities.
“The flood crisis impacted several industrial estates in Thailand and caused several hundred billions of economic loss. Many companies contacted Colliers to fulfill their needs of temporary warehouses and offices. The industrial sector will have to take natural disaster into consideration for site selection especially flooding which is an immediate concern." Mr. Patima Jeerapaet, Managing Director of Colliers International Thailand, said “Kabinburi Industrial Zone is situated 24 meters above sea level and equipped with preventive measures. All factories located in Kabinburi Industrial Zone are safe
and flood free. The routes from Kabinburi Industrial Zone to Bangkok or sea ports are also not affected by flood. It is a high potential industrial estate and a great business opportunity for the industrial sector in the future.
During the past 20 years, many companies in industrial sector has made Kabinburi Industrial Zone their investment choice e.g. Hitachi Co. Ltd., Thai United Awa Paper Co. Ltd., Energy Absolute Plc., Thai J Press Co. Ltd., Premiere Products Co. Ltd, Haier Electrical Appliance (Thailand) Co. Ltd. etc.
For more information please contact
Colliers International Thailand
Dr. Patima Jeerapaet
Managing Director
T: 662 656 7000
E: patima.jeerapaet@colliers.com
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Bangkok Serviced Apartment Q3-2011
10 Nov, 2011
Bangkok Serviced Apartment Q3-2011
Approximately 200 units have been completed and are in operation already out of the nearly 1,000 units that are scheduled to be completed in 2011. Sukhumvit road still is the most popular location for serviced apartments, due to more than 70% of total units that are scheduled to be completed in Q4 2011 will be located along this road. Total supply of serviced apartment units as of the end of 2011 is expected to be approximately 17,860.
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Residential market likely to remain uncertain for sometime after the floods
10 Nov, 2011
Residential market likely to remain uncertain for sometime after the floods
November 10, 2011, Bangkok – With the ever growing inundation of Bangkok and exhausting uncertainties regarding the potential flooding situation in the centre of the city; even in the best case scenario the pattern for the residential market will be difficult to assess even after the floods have receded, according to real estate company Colliers International Thailand. For the rest of the quarter residential launches are very likely to remain subdued due to current sentiment and logistics. However unlike the post May 17 2010 situation, when buyers jumped straight into the market, many will probably be cautious about making such a big decision as a property purchase until the ongoing events have ended and an analysis of the flood is undertaken, according to Patima Jeerapaet, Managing Director of Colliers. "The full story will need to be known before buyers come rushing in again and developers will also need to reevaluate projects", he said.
The decision as to whether to purchase landed property versus a high-rise condominium will likely be in favour of the latter due to the floods but even then people will evaluate which areas are less prone to floods. "Even if your high-rise home is protected you still don't want the area inundated with flood water for weeks", pointed out Mr Jeerapaet. However long the delays in buyers coming back in the market the pent up demand is likely to increase and eventually a significant number of launches will take place. According to Tony Picon, Associate Director at Colliers, condominiums will be even more popular than they were before the floods. "We are noticing that more older people and children are staying in condominiums at the moment and the reason is that the owners are using units as temporary accommodation for their extended families", he said. In the aftermath of the floods many who were forced to evacuate to centres may rethink their options. "You could find families encouraging one of their number to purchase a condominium unit and even help in financing, as it would then function as a back-up residence", pointed out Mr Picon.
At the high-income end of the market the same reasoning could add to the trend for purchasing second homes in resorts such as Hua Hin or Pattaya. "Many have fled to these resorts especially people who don't need to work in Bangkok such as children and the elderly", stated Monchai Orawongpaisan, Senior Manager for Residential Project Sales and Marketing. Again family pressure could result in more property being purchased not only as a weekend retreat but also as a back- up residence. "We could see significant activity in the market during the first half of next year based on this trend in Hua Hin, Pattaya and other nearby resorts", he added.
While high rises will prove more popular, landed property will still remain a strong presence in the city. There are dire warnings of global warning leading to more regular flooding problems, including flash floods as a result of heavy downpours and a future trend could be simply opting for houses on stilts which reflected a common mode of living in the past. "Many countries have been affected by floods and stilt based housing is proving more popular with innovative designs coming to the fore which exclude the use of hardwood pilling", said Mr Picon. The existence of such properties would also support the city in allowing water to run off quickly. "It is basically a way of accepting Mother Nature and living with it rather than trying to confront the situation ", he added.
Mr Picon pointed out that the problem for buyers finding locations that will be relatively safe from future floods is that effects can vary based on a number of factors. "Firstly, flooding is a combination of run-off from the north, heavy rains and high tides in November; and the impact of each differs for every flood leading to different geographical patterns of inundation ", said Mr Picon. The other variable is that the elaborate flood protection system for Bangkok is managed by politicians and administrators, and their priorities can change. "If the whole of Bangkok is inundated this time then buyers will face a big dilemma as to finding suitable locations in the future", warned Mr Picon.
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Global Office Market 1H 2011
26 Oct, 2011
Global Office Market 1H 2011
Office rents in Asia Pacific climbed in the first half with vacancy taking a dive by 121 basis points (bps), according the Colliers International Global Office Highlights 1H 2011 released recently. Covering 173 office markets in the world, the report finds Grade A office rents in Hong Kong to be the most expensive worldwide, followed by London – West End. Paris replaced Tokyo as the third most expensive Class A office rent in the globe, while London – City remained in the 5th spot.
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Hong Kong Residential Market Q3 2011
26 Oct, 2011
Hong Kong Residential Market Q3 2011
Subject to policy risks, financing difficulties and interest rate hikes, sales activity in the Hong Kong residential market slowed significantly, with the total number of sales and purchases of residential units falling by 28.9% QoQ during the three-month period ending August 2011. The luxury segment experienced a deeper deceleration, with the number of luxury residential sales transactions in the three traditional luxury districts that sold for over HK$20 million, decreasing by 48% QoQ. The new round of mortgage rate hikes further dampened market sentiment and prompted potential buyers to maintain their wait-and-see attitude. It is not just the interest rate increase that eroded buyer confidence but also a general concern about global economic growth ahead.
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