TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Property Prices Set to React to Four Seasons Site Transaction

Category: Real estate, Posted:14 Apr 2009 | 15:09 pm

With minimal leveraging and a limited supply of prime development plots Phuket has been able to stem the global and regional rising tide of depreciating prices, at least for the moment. Industry watchers are now viewing closely the outcome of the bidding on the 150 rai Laem Ka Properties site which was to have been managed by international chain Four Seasons. With Jones Lang LaSalle Hotels brokering a sale with Lehman's liquidators there is keen interest to see at what price the premium site will transact at.
In past years appraisals of institutional properties on the island and its environs have had difficulty benchmarking comparable transactions though noteworthy ones included Hongkong and Shanghai Hotels site in Bangtao where the present Shangri La Resort is being developed, Thai Muang by Richard Li's Pacific Century Group and most recently Pacific Star's Ko Pilai acquisition.
Prior to the economic downturn large prime oceanfront sites for hotels and mixed use were widely regarded to have a value of 18-20 million baht per rai and there were only a few transactions at that level. A new yardstick may now be applied depending at what price Leam Ka would sell at, should indeed it be vended. For existing projects there has been limited relief in terms of lower construction costs and with land components already priced in, it's doubtful that the same volatility in pricing may occur as with raw land.

Other News

Read more

Direct Bali Phuket Flights Return in Phuket

Category: Hotels|Tourism, Posted:14 Jun 2024 | 08:15 am The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024. AirAsia Indonesia will be the carrier and flight frequency will be three times a week. Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise […]
Read more

Registration Open for Mind the Gap – Women & Diversity in Hospitality – A Learning Event

Category: Hotels|Tourism, Posted:13 Jun 2024 | 09:55 am Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket. Join us in this unique, candid, and insightful half-day session that takes a closer […]
Read more

Samui’s Booming Villa Rental Marketed Featured in New C9 Hotelworks Report

Category: Hotels|Real estate, Posted:11 Jun 2024 | 07:04 am Standalone villas shake up traditional hospitality supply as the market rises. Increasing demand for multi-bedroom accommodation growing, coupled with a preference for spacious and private villas according to new research from C9 Hotelworks in their new Samui Villa Rental Market Review. In recent years, private villas rented as vacation homes have emerged as a significant […]
SiaJai logo

Thailand's Leading Homecare Marketplace