Listed Thai property firm Hemaraj have acquired a 228-rai site on Koh Lan Island just off of Pattaya.
The project, which will be titled Million Island Pattaya, will be an integrated resort and entertainment real estate development.
While master planning is underway, the project will contain multiple hotels, a marina, retail, leisure facilities and a convention center.
According to early reports Hemaraj will look at partnering on some development plots and phasing work within the large-scale mega-project.
A new 198 unit low-cost condo project has been launched near the entrance of Laguna Phuket.
The 7 storey 198 unit ZCAPE is being developed by local firm Tri Property Co, Ltd.
Condo units range from 70 twenty square meter units to 178 one bedrooms of 29 square meters on a land plot just over 1 rai and one ngan .
Pricing starts from THB1.19 million up to 2.6 million.
According to the project the sales office will be open through November and then demolished for an estimated 18 month construction period.
As land prices on the island continue to move upward, high rise development continues to be a trend in an increasingly urban property market.
Another recent addition to supply in the area is the Boat Avenue commerical and residential project which is located a stones throw from ZCAPE.
In a continued strategic reinforcement of its position as a leader in international services sector, Singapore is wooing overseas law firms.
The city state is allowing an increase in foreigners allowed to practice law; provided they employ a set number of local professionals.
An aim of the initiative is to provide a transfer of technology and advance capabilities in line with global standards.
Sadly Thailand is seeing a brain drain of legal professional shift overseas given larger opportunities abroad.
Property developer Raimon Land has taken on an outside new share placement equal to 9% of the company from Thai institutional invesors.
In what will translate to nearly half a billion baht in fresh funds, the group has been able to reduce debt and is now cashed up for new projects.
Raimon's three key projects in the market now include two in Pattaya with Zire Wongamat and Unixx and Bangkok's 185 Rajadamri.
Over the past few years Raimon has shifted it's buyer focus from overseas to local purchasers so any future pipeline would be assumed to take place in the latter market.
Vietnam remains paradoxically both the land of promise and equally disappointing for foreign investors.
Over the past few years high interest rates and double-digit hyperinflation have dogged the real estate sector.
Recently Vietnam's State Bank cut deposit interest rates which ran as high as 13% down to a single digit 9%.
The benefit is expected to be two-fold. First for businesses, lower interest rates may stimulate investment. Second for investors holding cash in bank deposits the lower rates may create more interest in shift portfolios to property.
So far the market reaction has been lukewarm given that lending rates still command a considerable premium.
Volatility remains the sworn enemy of businesses and certainly this remains a key to the current regime of negative investment sentiment.
A joint venture between a Thai and Scandinavian group is developing a THB220 million community mall in Ao Makham near to Cape Panwa.
According to the Bangkok Post the developer of the new Jatujak Green Mall in Bangkok Hi Traffic Media and a Scandinavian fund are behind the project.
Located on an 8 rai site the project will benefit a catchment of East Coast hotels including Sri Panwa, Radisson, Crowne Plaza, Westin and the upcoming Regent.
Canadian property developer Edward "Ed" Powis has passed away in Phnom Penh Cambodia according to his family.
He was 67 years old and leaves behind a wife and four children.
Ed is best known in Phuket for the Jumeirah Private Island – Barama Bay project off of the island's East Coast.
A number of years ago when Nigel Cornick was pioneering condominium project with Raimon Land in Pattaya, more than a few skeptics shook their heads in disbelief.
Time has proven that Pattaya's mass residential market has evolved into the second leading in the country following Bangkok.
Now Cornick is back on the Eastern Seaboard heading up Kingdom Property with a two billion baht project called Southpoint.
Condominium presales will start in the second quarter of this year and completion set for 2015.
Project financing has been obtained though Krung Thai Bank Public Company Limited.
One of designs leading creative forces Frank Gehry has hit Asia's shores with the high profile Hong Kong development Opus.
With a prime location on the famed Peak, the twelve story building only has 12 units, 10 units have their own floor with two double level garden apartments make for a very exclusive product.
Developed by the Swire Group, apartments range in size from approximately 600 square meters up 690 square meters.
In a market which has literally defined the term shoebox flat, Swire has ushered in a regime of 'supersize me'.
