Thailand's Real Estate Outlook
Skift Take
Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors.
JLL said Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors. Tourist arrivals rose by 152% in 2023 compared to the prior years, exceeding the government’s target. JLL is projecting that Thailand and Southeast Asia’s real estate market will be influenced more in 2024 by strategic improvements in infrastructure and the quality of Grade A real estate in Bangkok. Several world-class mixed-use development projects will transform Bangkok’s real estate market bringing in over 900,000 sqm of Grade A office space, 300,000 sqm of retail centers, 5,400 units of luxury condos, and 5,900 keys of luxury hotels to Bangkok’s Central Business Area.
Fosun International is looking to sell all or pa
