News roundup: Thailand seeks to attract casino investments, plus other updates

For PropertyGuru’s real estate news roundup, the Tourism Authority of Thailand seeks to attract casino investments in Thailand’s proposed entertainment complex. In other news, the real estate sector of Vietnam has been bustling with positive signs, while Cambodia’s Siem Reap province, which relies heavily on tourism, is gradually recovering in the post-COVID-19 period.

TAT bullish on casino investment

Thailand stands a good chance of attracting investments in entertainment complexes as MGM China Holdings is looking for new overseas investments, according to the Tourism Authority of Thailand (TAT).

After meeting Pansy Ho, chairperson and executive director of MGM China Holdings, on Thursday, TAT governor Thapanee Kiatphaibool said MGM China wants to promote Macau tourism to the Thai market while also searching for new investment options in Thailand’s proposed entertainment complex.

She said in Bangkok Post that investment from a global company would stimulate international markets in Thailand, particularly Asian travellers led by China, Southeast Asia, and the Middle East.

Vietnam’s real estate market picking up

The real estate sector has been bustling with positive signs, as some resort projects are reactivated, industrial ones are implemented, and new housing supplies are entering the market.

In the industrial real estate segment, Gelex Group JSC and Frasers Property are collaborating to develop industrial parks that meet LEED (Leadership in Energy and Environmental Design) standards. Becamex IDC Corp., meanwhile, recently signed an investment agreement for the 5,000-ha Binh Thuan Industrial Park project, with a total investment exceeding USD800 million.

Several resort real estate projects have been resumed since the beginning of this year, such as the Flex Home beach apartment project in Libera Nha Trang developed through cooperation between Masterise Homes and KDI Holdings and featuring 300 condotel units.

VietnamPlus reports that the market has also witnessed the launch of new housing projects, including the Vinhomes Royal Island, covering 877-ha in the northern port city of Hai Phong and the 3.7-ha Eaton Park by Gamuda Land in Ho Chi Minh City.

Siem Reap official: Tourism gem adjusting to post-pandemic trends

Siem Reap province, which relies heavily on tourism, is gradually recovering in the post-Covid-19 period. Visitors from Europe and the US are returning to Cambodia, especially to the province, which is rich in ancient temples and cultural treasures. Visitors numbers from major tourist markets in Asia, such as China, Japan and South Korea, remain minimal, however.

The Phnom Penh Post sat down with Thim Sereyvudh, acting director of the Provincial Department of Tourism, to learn more about the regeneration of the tourism sector in Siem Reap.

The Property Report editors wrote this article. For more information, email: [email protected].