• Demand for prime sites remains strong with developers continuing to acquire sites for all types of development.
• Build-and-sell residential developers focus more on developing income recurring properties such as serviced apartment, hotel, etc.
• More joint ventures have been announced and we expect to see more to come.
• Continued growth in hospitality sector driven by increase of tourist number.
• There was two major arm’s length transaction for income producing property during this quarter. King Power acquired the Edition Hotel, Observation deck, Retail Cube in Mahanakorn Project. Grande Asset Hotels and Property or GRAND acquired 68% of the shares in Royal Orchid Hotel (Thailand) or ROH owner of the 726-room hotel from Starwood and Thai Airways International for 2.37 billion baht.
• One new REIT was listed during Q1 2018; B-WORK.