Engel And Voelkers Phuket Office Shutting Down
The Phuket branch of international real estate brokerage house Engel and Voelkers in Cherngtalay is set to close at the end of October.
Operated under a franchise by DWK Reality Co, Ltd. The closure notice cites growing competition from online and social media models that are challenging brick and mortar businesses.
DWK has said they will be looking into other business opportunities in Hua Hin and Phuket in the retirement property sector in the future.
As online models have increasingly grown to take on traditional real estate brokerage the same can be said for Thailand’s retail segment and we expect similar right sizing in the years ahead for the country’s massive mall industry.