HEADLINES [click on headline to view story]: 

Sales in Raimon Land’s Northpoint development soar past THB 3 billion

British Chamber “Means Business”

French top store to import more Thai fruits, flowers

Oil traders begin to reduce gasoline and gasohol prices

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Sales in Raimon Land’s Northpoint development soar past THB 3 billion

Sales in Northpoint, Raimon Land’s luxury condominium development in North Pattaya, have surged past the THB 3 billion barrier, taking total sales to 60% of the targeted THB 5 billion.

An artist’s impression shows Raimon Land’s Northpoint Condominium project (pictured center) currently being constructed at Wongamart Beach, North Pattaya.

Raimon Land launched the 376-unit project, located on a 12-rai beachfront site at Wongamart, in November 2006. To date, it has achieved an average per-square-metre (psm) price of THB120,219 on the 252 units sold.
Sales for both towers have been brisk since the beginning of 2008, with buyers signing up for 59 units worth THB591 million at an average price of THB120,592 psm from January 8 to March 11. Sales in February alone were worth THB362 million.
“The surge in sales in the last two months is a clear indication that investor confidence is returning to Thailand and to the booming eastern seaboard region,” said Raimon Land Chief Executive Officer Nigel J Cornick.
Take up in Northpoint’s South Tower has been particularly strong, reaching 79% of the targeted THB2.71 billion through sales of 138 of its 163 units. North Tower sales have hit 38% of its value at THB846 million through sales of 114 of its 213 condominium units.
Interest has been strong from local Thai investors as well as a wide spread of other nations, such as Russia, the UK, Australia, Sweden, Germany, Estonia and China. A more recent trend is an influx of Thai expatriate buyers who recognise the relative value of Thailand compared to their current place of residence.
Mr. Cornick said investors are becoming more active in Thailand’s top resort where returns have been impressive.
“Pattaya offers a tremendous opportunity to realise both strong short-term gains as well as long-term growth through investments in grade A condominium developments,” he said.
“Rental yields have been averaging 6-10% per annum and buyers at Raimon Land’s Northshore project have enjoyed on average capital increase of 30% per year.”
A major factor driving Pattaya high-end residential real estate sector is its growing allure as an active lifestyle destination, which can now cater to more affluent well-travelled visitors who will pay a premium for indulgent experiences.
International five-star hotels are scrambling to get a foothold in Pattaya. Local luxury brand Centara, along with international players Hilton, Mövenpick, Le Méridien and InterContinental all plan to open hotels or resorts by 2010.
 

British Chamber “Means Business”

The British Chamber of Commerce Thailand (BCCT) has announced the launch of its “Thailand Means Business 2008”campaign to help improve the confidence of UK business in Thailand.

“I hope that ‘Thailand Means Business 2008’ will contribute directly to an increase in investment and trade between the two Kingdoms,” says BCCT Chairman Rodney Bain.

During 2008, BCCT will organize a series of ‘business to business’ seminars targeted at British companies seeking to invest in or trade with Thailand in different locations in the UK (and Hong Kong and Singapore). These seminars will present a positive view of the many opportunities that exist in Thailand balanced by the challenges faced by foreign businesses. Speakers will be invited from Thailand-based members of the BCCT.
During 2007 BCCT members were concerned that their businesses could have been adversely affected by changes to legislation such as the Foreign Business Act. While technically some of these draft laws remain active, the new government has announced plans to actively promote foreign investment in Thailand.
BCCT Chairman Rodney Bain says, “Despite concerns during 2007, the UK remained the largest European investor in Thailand. Our bilateral relationship is also very positive, amply demonstrated by the visit this month to Thailand by Lord Digby Jones, the UK’s Minister for Trade, one of the first visits by a foreign trade minister since the election of the new government.”
Mr. Bain continues: “The new government has stated a need to attract greater foreign investment to Thailand. ‘Thailand Means Business 2008’ is BCCT’s way of supporting this desire by passing on its wealth of knowledge and practical experience of doing business in Thailand to UK companies, in particular to those that may have cancelled or suspended their investment or trading plans during the last couple of years. I hope that ‘Thailand Means Business 2008’ will contribute directly to an increase in investment and trade between the two Kingdoms.”
2007 was a record year for the BCCT with membership exceeding 660. Event sponsorship reached best ever levels and a record sum (approximately THB 2.5 million) was donated to charities in Thailand.
Mr. Bain concludes: “BCCT has an ambitious programme of activities in 2008 including visits to regional centres in Thailand, continuation of our Thai-language events and the ‘Thailand Means Business 2008’ campaign. We actively welcome new members.”
Note: Founded in 1946, the British Chamber of Commerce Thailand (BCCT) is the oldest foreign chamber and the largest non-Asian foreign chamber in Thailand. In addition, it is the largest and oldest British Chamber in Asia. In 2007 BCCT achieved a record membership of more than 660 companies with over 2,000 named representatives and 200,000 employees covering a broad cross-section of business interests in Thailand. Membership, which is open to companies of all nationalities and sizes, has increased by 86% since 1996. BCCT’s mission statement is: - “To serve the needs and promote the development of British business in Thailand and as ‘Partners in Progress’ contribute directly to Thailand’s economic advancement.”
For further information please contact BCCT Executive Director Greg Watkins on tel: 0 2651 5350-3 or email: [email protected]