New transport infrastructure projects will push more property buyers toward Pattaya, according to Knight Frank Thailand, per The Nation.
Massive state investments, including the expansion of the U-Tapao International Airport and the redevelopment of the Sattahip Commercial Port into a yacht marina, are widely expected to bolster growth in an area known as Thailand’s eastern economic corridor, encompassing the provinces of Chonburi and Chachoengsao.
Thailand’s eastern economic corridor will promote 10 target industries.
U-Tapao is estimated to bear an annual capacity of 1.2 million passengers this year, up from 700,000 passengers in 2016.
Similarly, the Sattahip port will reduce travel times by as much as two hours and support east-west freight transport across the Gulf of Thailand.
The Sattahip and Na Jomtien areas will particularly benefit from the projects, said Knight Frank Thailand managing director Phanom Kanjanathiemthao.
“Pattaya itself has set a goal to become a centre of tourism to support the growth and integration of the Asean Economic Community,” said Phanom.
Na Jomtien is already home to Cartoon Network Amazone, the first water park in the world to be branded under the popular kids’ channel.
Pattaya will be closer than ever to Hua Hin with the recent start of passenger ferry services between the two beachside cities.
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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