China Inc. Targets Thai Real Estate Sector
If you build it, they will come. Sooner or later China’s massive property sector had to start overflowing into Thailand.
One project that has captured the trend is a massive THB30 billion project in Pattaya which will launch in 2016.
The project combines Thailand’s Magnolia and CP Group together with China’s Greenland Holding Group.
Set on a site of just over 40 rai the mixed-use project will include hotel, residential and retail components.
Pattaya has been the benefactor of a number of large-scale projects coming up including the significant upgrading of U-Tapao Airport.
Magnolia has pushed their property focus forward with the recent debut of the luxury development The Residences at Mandarin Oriental in Bangkok which is part of the ICONSIAM mega site.
Market chatter in Phuket meanwhile has it that Mandarin may be returning to the destination after a long absence.