Thailand is currently one of the most exciting hubs for contractors in Southeast Asia today, with a construction market value estimated at USD41.4 billion last year, according to a white paper released last week by corporate strategy consulting firm Solidiance.

New buildings and infrastructures amassed throughout the kingdom at a faster clip over the last few years, a trend that would indicate an especially busy year ahead for Thai real estate.

Overall, the number of buildings in the country increased 1.4 percent on average every year between 2012 and 2014.

Overview of Thailand’s construction sector

Thailand’s construction market is estimated to reach up to USD 41.4billion by 2016, with about USD 17.9billion coming from private investments and about USD 23.4 billion from the public sector, which includes the infrastructure segment.

Public infrastructure

Of the USD41.4 billion siphoned into Thai construction last year, USD23.4 billion can be traced to the public sector.

This mainly covers lavish public expenditure on infrastructure, aligning with the Thai government’s renewed thrust toward improving the country’s transportation system.

Since 2015, transport officials have executed plans to increase infrastructure investments in Bangkok’s mass rapid transit line, although delays have been widely reported.

 

constructionGrowing condo market in metropolitan Bangkok

Such increase in public works have literally widened the path to residential construction in the Thai capital. With public transit lines currently under construction, Bangkok’s city center is gradually expanding, Solidiance researchers contended.

The government has also approved the development of the Eastern Economic Corridor, which concentrates on construction of transport infrastructure, sea, and rail. This move will further support Thailand’s position as a major economic zone in ASEAN.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

Why are Foreigners selling Thai stocks?

The main reasons for the foreign exodus are rising global interest rates, political uncertainty, weak corporate earnings, and a depreciating baht.

Thailand Grants Visa Exemption to Chinese and Kazakhstani visitors amidst Declining Tourism

As a result, Thailand’s decision to grant visa exemption to Chinese and Kazakhstani tourists starting from September 25th is seen as a strategic move to attract more visitors and counter the decline in Chinese tourist numbers.

Thai exports contracted for a fifth straight month in February

The value of Thai merchandise exports in February 2023 contracted -4.7%YOY, marking a five-month consecutive contraction.