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

Who’s Caesar And Phuket’s Fastest Growing Hotel Group

Category: Tourism, Posted:04 May 2021 | 06:00 am Welcome to the latest Thai Road Trip episodes from C9 Hotelworks and Delivering Asia Communications. Listen to the Executive Director of Jee Teng Hospitality talk shop and what’s next. We also get out the kitchen and into the dining room handcrafted tableside food service. Check these two now – Inside Story. A Phuket Hotel Group […]
Read more

Sandstorm In the Sandbox

Category: Tourism, Posted:03 May 2021 | 09:39 am All eyes this week locally are on the fate of the Phuket Sandbox which remains a work in progress. The second round of local vaccinations were planned to start this week but given Thailand’s third wave it’s unclear whether the process can move on the expected timeline due to vaccinations being deployed elsewhere in needed […]
Read more

Posh Pool Villas Debut, Island Expat Jabs and Elephants Gone Wild

Category: Tourism, Posted:26 Apr 2021 | 06:00 am It’s Monday and time to get the inside story in these latest video episodes of Thai Road Trip from C9 Hotelworks and Delivering Asia Communications: Phuket Luxury Tourism Heads East Covid-19 Vaccinations For Phuket Expats. What’s Next Phuket’s Journey For Ethical Tourism