Thailand has a strong pull to foreign investors especially Chinese property buyers. Lately, millennials are keen on spending their money on Thai property even if some of them have not been in the country.
Property Developer’s Strategic Plan
Noble Development Plc has a new strategic plan to boost growth and sales, as well as to achieve the 3-year sales revenue of 30 billion baht. The listed Stock Exchange developer company is gearing to target Chinese property buyers.
According to Thongchai Busrapan, chairman and president of Noble Development Plc, these group of investors are eager to purchase condo units in Thailand. The Chinese are not only looking in the central business district but also in other areas near public transit, because high-rise residential units in those areas are likely to generate higher capital gains.
While Frank Leung, vice-chairman and co-chief executive, highlighted that Chinese property buyers spiked in number last year as Noble’s foreigh market switched from Hong Kong and Singapore, to China. This movement gave 60% to 70% boost of the total overseas sales.
Property projects to rise
The company aims to sell the remaining commercial properties worth 3 billion bath and will focus on residential project developments.
Due to specific interest as per location of the prospect Chinese property investors, Noble Development Plc will construct projects in the heart of the city as well as along BTS Skytrain routes.
Noble plans to launch new prime condominium projects this year on Wireless Road Soi Thong Lor. As for 2020, low-rise houses worth 7 billion bath on Ekamai-Ramintra Road and condominium on Srinakarin Road are some projects to watch.
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