Recovery ignites property price growth
Industry Reports by Synergy Media Specialists
The Thai economy continues its recovery to post growth in the industrial and manufacturing sectors.
On the real estate side, while property prices are gradually increasing they are showing some signs of stability. Property prices in Thailand, and Bangkok in particular, still compare favourably in comparison with surrounding major regional centres.
With the incoming Asean Economic Community in 2015, the country is expected to continue this growth and expansion.
Bangkok will become an important hub for commerce and tourism, and property prices, particularly in prime locations, will continue to climb as demand from local and international markets increase.
Magnolia Quality Development Corporation, one of the DT Group of Companies (DTGO), was established in 1994. With offices in Bangkok and Shanghai, the group employs more than 300 staff. DTGO has undertaken projects in Thailand and the mainland, ranging from residential, commercial, retail and hospitality developments. The group's core businesses (real estate, design and consulting) are strengthened by a strong support system and complementary businesses such as property management, sourcing, procurement, trading, research and development and project management.
Managing director Thanawan Chaiwatana says: "We are in top gear this year, starting with our Magnolias Ratchadamri Boulevard, a mixed-use development in Ratchadamri, the prime location at the heart of Bangkok incorporating super luxury residential condominiums and introducing the first Waldorf Astoria hotel in Southeast Asia.
"Managed by Hilton Worldwide Hotels and Resorts, the Waldorf name is synonymous with timeless luxury and sophistication.
"Also, Magnolia Quality Development Corporation, in partnership with Siam Piwat and the CP Group has announced a new development that promises to unlock the beauty of the iconic Chao Phraya river and position Bangkok as one of the region's most desirable destinations."