Targeting trillions in revenue for 2025 Thai tourism; plus additional updates

For PropertyGuru’s real estate news roundup, Thailand’s government is eyeing TBH3.5 trillion in tourism revenue in 2025, mainly driven by foreign markets. In other news, Sydney was a top performer in Australia’s flex office market in 2024. Lastly, a frenzy of mergers and acquisitions is sweeping the Asia-Pacific data centre market, driven by strong demand and limited availability.

Thailand targets THB3.5 trillion in tourism for 2025

The government is eyeing TBH3.5 trillion in tourism revenue in 2025, mainly driven by foreign markets, which would be boosted via hard-sale promotions and whole-year events and activities, while tourism operators believe this target would be difficult to achieve. The Tourism Authority of Thailand (TAT) launched the Amazing Thailand Grand Tourism and Sports Year 2025, packed with events and activities to attract 39 million visitors. Tourism and Sports Minister Sorawong Thienthong said in Bangkok Post that the government remained confident of regaining both tourism revenue and arrivals at the same level recorded in 2019 within this year.

Sydney’s Flex Market trends in 2024 and what to expect in 2025

Sydney stood out as a top performer in Australia’s flex office market in 2024 so Savills takes a look at the year’s performance, demand trends, and the emerging dynamics in the city’s flex and traditional office markets. Median desk rates in Sydney’s flex market increased by approximately 7 percent in 2024, driven by a tightening of supply. This trend was especially evident for flex suites below 15 desks, reflecting strong demand and limited traditional market options for these smaller spaces. Sydney’s median desk rate is around AUD1,000, with premium locations commanding up to AUD1,300 per desk.

Buyouts and mergers fuel data centre boom

A frenzy of mergers and acquisitions is sweeping the Asia-Pacific data centre market, driven by strong demand and limited availability, according to JLL. Recent high-profile deals include Blackstone’s AUD24 billion (USD16 billion) acquisition of Australian data centre platform AirTrunk — the largest-ever data centre company deal — and DigitalBridge’s acquisition of Yondr Group, a global developer and operator of hyperscale data centres. While M&A activity dominates the headlines, asset-level deals are also on the rise. In the third quarter of 2024, investment in APAC data centres surged 114 percent year-on-year to USD2.8 billion, according to JLL’s Capital Tracker.

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