The ASEAN Economic Community (AEC) is driving Thailand’s growth, with foreign property developers swarming in with ambitious investment expansion plans there.
Foreign investors from Asia, the Middle East and Europe are likely to place emphasis on business growth in office, hospitality and residential segments. Thailand’s good geographical placing serves as a potential gateway to other ASEAN countries, effectively increasing the level of connectivity it needs for foreign companies to set up head offices as part of their expansion plans in Southeast Asia.
Thailand is bracing itself for a sudden surge of activities and growth in most segments after the AEC take full effect as foreign investors will help boost a huge demand for both office space and residential property.
Many Thai conglomerates have taken upon themselves to create a diversifying arm into either real estate sector, office, industrial estate or hotel and distribution centre projects across the country to cater to the abundant opportunities in the next few years.
CP Land, the property arm of CP Group, formed an investment programme to develop residential and office projects around the country in the next 2-3 years as they expect a huge boost in demand from both domestic and foreign investors expanding their investments in Thailand.
With the property cooling measures and mortgage loan curbs riding on the back of most countries, Thailand may continue to appeal to most foreign investors as low investment capital is required.
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