Sansiri leverages Thailand’s promising economic prospects

By The Base Sukhumvit 50 / BROUGHT TO YOU BY SANSIRI | October 19, 2018 11:30 AM SGT
The Base Sukhumvit 50, will offer 415 residential units over two 8-storey buildings.
Leading Thai property company Sansiri PLC sees plenty of opportunities for growth, particularly in Bangkok’s residential market, on the back of a promising economy with proposed investment plans and infrastructure projects.
After four years of being under junta rule, Thailand’s economy has rebounded with gross domestic product (GDP) growth at a five-year high, thanks to growing exports and tourism. The National Economic and Social Development Board reported a 4.8% growth in GDP in the first quarter of 2018, the fastest pace since 2013.
The country’s stable outlook has also prompted the WorldBank to consider raising its economic projection for the Land of Smiles. Last year, Thailand’s GDP for the quarter to September posted its strongest growth of 4.3% in four years.
Ranked 52 out of 128 on the Global Innovative Index for 2017, Thailand is poised to woo entrepreneurs and innovative investments of high quality from both the domestic and international markets as the military government cuts red tape and steps up efforts to attract foreign investment and boost infrastructure.
Early this year, the Thai government approved new legislation for the US$45 billion Eastern Economic Corridor (EEC) project in the industrial east, offering investors a tax break as well as land for rent up to 99 years.
The EEC committee has also reportedly approved the 260km, US$6.4 billion high-speed rail that would link three airports – Suvarnabhumi, Don Mueang and U-Tapao – in Thailand, thus enabling commuters in the future to travel from Bangkok to the U-Tapao airport in 45 minutes.
E-commerce giant Alibaba is also reported to have invested about US$320 million in a digital hub in the EEC, offering a platform for the Thai agricultural and tourism sectors to tap the Chinese and international consumer markets.
No longer just a tourist paradise, Thailand is swiftly gaining in popularity among start-ups due to its considerably lower cost of living, strategic location in the heart of Asia, a 68-million domestic consumer market and 46 million active internet and social media users. Moreover, the government launched a US$70 million venture fund in 2016 to support and grow start-ups in the country.