by Willie Tan | Aug 14, 2024 | News
Bangkok Shopping Centers Report Strong Recovery in H2 2023, Driven by Foreign Tourism
The Bangkok shopping centre sector has shown a robust recovery in the second half of 2023, largely fueled by an influx of international tourists, according to RETalk Asia. Despite challenges from e-commerce competition and the COVID-19 crisis, shopping centres, including those managed by Central and Robinson groups, now hold about 27% of the market. Hypermarkets account for 28%, while The Mall Group, Siam Piwat, LH Group, Seacon Square, and Future Park hold smaller shares.
Real Estate Careers in Malaysia Surge Amid Market Recovery
Malaysia’s real estate sector is witnessing significant career growth as the market recovers, reports Bernama. AFZ Realty Sdn Bhd Managing Director, Afizan Mohktar, highlighted the rising demand for real estate consultants, who are crucial in sustaining property development and driving industry progress.
Indian Developer Zoya Developments to Invest AED2 Billion in UAE Market
Indian real estate developer Zoya Developments has announced its entry into the UAE market, with plans to invest over AED2 billion in the next three years, as reported by PropertyNews.ae. Their first Dubai project, located in the Furjan area, is set for completion by 2026 and aims to set new benchmarks in residential living with modern design and smart home technology. Zoya Developments, renowned in India for delivering over 100,000 units and developing more than two million square feet of prime real estate, will focus on prime locations in Dubai, including Furjan, Dubai Islands, and JVT.
Source: PropertyGuru Asia Property Awards
by Willie Tan | Aug 9, 2024 | News
Thailand’s comprehensive revamp of visa and entry regulations has elicited a range of reactions, from enthusiasm to confusion and some frustration. To shed light on the new rules, Naruchai Ninnad, Deputy Director-General of the Department of Consular Affairs at Thailand’s Ministry of Foreign Affairs, addressed questions during the Bangkok Post’s Deeper Dive vodcast.
Destination Thailand visa (DTV)
A key highlight is the introduction of the five-year Destination Thailand visa (DTV), which allows stays of up to 180 days, extendable to one year. However, eligibility is restricted to three specific categories.
The first category targets digital nomads or freelancers paid by employers outside Thailand. Naruchai explained, “You can work remotely in Thailand as long as your employer and income are based abroad. Documentation like a payslip or a letter from your employer is required.” The second category includes those relocating to Thailand for specific activities, such as Muay Thai training, cooking classes, medical treatment, or attending events. Applicants must provide proof, such as an appointment or event ticket. The third category covers individuals with spouses or children in Thailand, requiring proof of relationship. This visa can serve as an alternative to the category O spousal visa but must be renewed every six months and requires at least one exit from the country per year.
The DTV does not mandate health insurance but requires proof of at least 500,000 baht in assets, held anywhere globally. Naruchai stressed that qualifying for the visa also depends on fitting into one of the defined categories, not just financial capability.
He also clarified that the DTV cannot substitute the one-year retirement visa unless the applicant qualifies under a different category, and addressed concerns that the DTV might be seen as a cheaper alternative to the Elite visa, noting that each visa offers different benefits.
Another significant change is the expansion of countries eligible for visa-free entry from 57 to 93, including China and India. The entry stamp duration has been extended from 30 to 60 days, with an additional 30-day extension available at an immigration office. Naruchai noted that there’s no limit on the number of entries per year, and entrants must show access to at least 20,000 baht, though a return or onward ticket is only required upon request by immigration officials.
Visa on arrival
The number of countries eligible for a visa on arrival has also increased from 19 to 31, though this option is less favourable due to its 2,000 baht cost and 15-day validity. Naruchai emphasized that immigration officers would grant the most beneficial option, citing that Chinese citizens would receive a 60-day visa exemption over a visa on arrival.
Non-ED Plus visa
Additionally, a new Non-ED Plus visa has been introduced for the 40,000 foreign students at Thai universities pursuing Bachelor’s degrees or higher. This visa allows for a one-year stay after graduation to seek employment in their field. Those already in Thailand on an ED visa and who meet the ED Plus criteria will automatically be upgraded, eliminating the need for a re-entry permit.
Despite these updates, other visas and the controversial 90-day reporting requirement remain unchanged. However, the health insurance requirement for the retirement and spousal visas has been reduced from 3 million baht to 400,000 baht.
Regarding concerns about foreign criminals, Naruchai assured that security measures remain robust. While pre-screening for the 97 countries may not occur before entry, arrivals will still undergo security checks using the same database. Recent incidents involving foreign criminals and corrupt immigration officials have highlighted these issues, but strict regulations and screenings aim to ensure security while avoiding undue burdens on law-abiding expats.
Source: Asean Now
by Willie Tan | Aug 9, 2024 | News
Hyundai Motor Company, the South Korean automaker, has announced a 1 billion baht (US$28 million) investment to establish an electric vehicle (EV) and battery assembly facility in Thailand, as reported by the country’s Board of Investment (BOI) on Wednesday.
Currently, Chinese automakers such as BYD (Build Your Dreams) and Great Wall Motors dominate Thailand’s rapidly growing EV market, using the country as a key manufacturing base to supply vehicles across Southeast Asia.
The new Hyundai factory, which will be located southeast of Bangkok, is scheduled to commence production in 2026, according to a statement from the BOI.
BOI Secretary General Narit Therdsteerasukdi noted that Thailand’s well-established supply chain will enable Hyundai to source at least one-third of its raw materials and components locally, further bolstering the domestic industry.
As EV sales surge across Southeast Asia, led by BYD, they are increasingly capturing market share from the internal combustion engine vehicles long dominated by Japanese and Korean manufacturers. In the first quarter, Thailand, Southeast Asia’s largest automotive manufacturing hub, accounted for 55% of the region’s EV sales, according to Counterpoint Research.
Source: Bangkok Post
by Willie Tan | Jul 25, 2024 | News
Thai Interior Minister Anutin Charnvirakul has called for an urgent investigation into the source of a Bangkok billboard advertising the sale of passports and nationalities. The billboard was located in the Huai Khwang district of Bangkok. This investigation aligns with Mr. Anutin’s broader strategy to crack down on crime hubs and bolster the country’s reputation and public trust.
Ministry spokeswoman Traisulee Traisaranakul announced on July 22 that Mr Anutin had been informed about social media posts criticising the Chinese-language billboard, which advertised the sale of passports and nationalities from several countries.
Mr. Anutin, who also serves as Deputy Prime Minister, ordered the immediate removal of the billboard and a thorough investigation. Should any illegal activities be discovered, the investigation will expand to identify and penalise those responsible. The billboard had been taken down as of press time.
Ms Traisulee emphasised that while the government is implementing policies to facilitate easier entry for tourists, there must be stricter screening to prevent criminals from using Thailand as a base for illegal activities. “Since easing visa regulations for several countries, Anutin has directed provincial governors and local administrative bodies to work with police and security agencies for stringent inspections and monitoring,” she said. “This is to prevent Thailand from becoming a hub for criminal activity, which could harm the country’s image, tourism confidence, and long-term investments.”
Mr. Wiroj Lakkhanaadisorn, an MP from the Move Forward Party, expressed concern, stating that the billboard represents a severe legal breach. “If true, it signifies a blatant disregard for Thai authorities. The billboard in Huai Khwang, where many Chinese nationals reside, suggests it targeted them. This could mean our country is becoming a centre for global threats,” Mr Wiroj said.
He added that such incidents damage the country’s reputation and could attract international criminals. If verified, authorities should pursue legal action. He also noted the possibility of the Chinese mafia and criminals with arrest warrants using Thailand as a haven. “Rumors suggest a network of Chinese criminals uses Thailand as a hideout before moving to other countries. This network seems well-organised, with the ability to bribe officials and turn Thailand into a hub for illegal activities,” Mr Wiroj added.
The billboard featured a prominent message in Chinese, first noticed by a Facebook user who used Google Translate to interpret it. The advertisement offered a legal passport and nationality within 30 days, including a price list for passports from Indonesia, Vanuatu, Cambodia, and Turkey. After gaining social media attention, the billboard was removed by 10 am on July 22.
Mr. Paitoon Ngammuk, director of the Huai Khwang district, confirmed that an initial investigation report has been received, and further detailed inspections will follow. Convicted individuals face penalties, including imprisonment and/or fines. Meanwhile, deputy immigration chief Panthana Nuchanart stated that while some countries sell nationalities, this practice is strictly forbidden in Thailand. Investigators will determine if any illegal activities occurred. Preliminary findings suggest the billboard advertised the sale of other nationalities, not Thai, using Thailand as the advertising venue. Nonetheless, thorough checks will be conducted to ensure no national security breaches.
by Willie Tan | Jul 24, 2024 | News
On July 23, a deputy prime minister announced that Thailand would move forward with legislating marijuana for medical use, signalling a reversal from previous intentions to re-criminalise the plant. This marks another shift in the government’s uncertain stance on cannabis. In 2022, Thailand became one of the first Asian nations to decriminalise marijuana without establishing clear laws or regulations, leading to a surge in recreational use and the emergence of numerous cannabis cafes and retailers, raising public concerns about potential misuse.
Deputy Prime Minister Anutin Charnvirakul, a key advocate for marijuana liberalisation, stated that Prime Minister Srettha Thavisin has now endorsed legislation as the appropriate course of action. Anutin thanked the prime minister for considering and deciding to proceed with legislative action.
The government continues to prohibit recreational cannabis use, and Prime Minister Srettha, from a different political party, had previously suggested re-criminalisation, with allowances for medical and research purposes. The legislation will be debated in parliament, where a draft law already exists, according to Prommin Lertsuridej, the secretary-general to the prime minister. The determination of cannabis as a narcotic will be up to the legislative body.
A draft cannabis law had been presented to the legislature under the previous administration, but parliament was dissolved before it could be voted on. It remains uncertain whether actions will be taken to restrict recreational cannabis use, as advocated by Prime Minister Srettha. The domestic marijuana retail sector in Thailand is rapidly growing, with projections estimating it could reach up to $1.2 billion by 2025.
The Bhumjaithai Party, led by Anutin and the second largest in the ruling coalition, has promoted the use of marijuana for health and economic purposes but officially does not support recreational use and opposes re-criminalisation. Nattabhorn Buamahakul, managing partner at Vero Advocacy, a government affairs consultancy, noted that the latest policy shift suggests improved coordination among coalition parties on the complex issue of cannabis compared to last year when the government was formed.
Source: Bangkok Post
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