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Thursday 18 March 2010

Colliers International Jumps a Notch


Colliers International Jumps a Notch
- Firm moves to the Second Spot in the Annual Lipsey Survey -

The results are in and Colliers International has climbed to the #2 spot in the annual Lipsey Survey of the top 25 brands in the commercial real estate industry. The firm had a lock on third place since 2004 and rose from 6th place in 2002 to 4th in 2003.

The results reflect the ballots, informal focus groups, and opinions from a variety of sources made up of more than 50,000 practitioners and industry leaders from REITs, Institutions, Mortgage Bankers, Commercial Brokers, Asset Managers, Property Managers and related professionals surveyed and interviewed by The Lipsey Company, which is a training and consulting firm specializing in the commercial real estate industry.

“Although we are pleased to have moved up to second place, we will continue to pursue our strategy of ensuring our clients receive the highest levels of service and consistent delivery over the long-term,” said Douglas P. Frye, Chairman and CEO of Colliers International. “We have risen in the rankings largely due to our best-in-class service and the high quality service offerings that we provide around the world. We are in the process of integrating some of the top names in commercial real estate under the Colliers International brand including FirstService Williams, FirstService PGP Valuation and PKF Hospitality and Hotel Consulting which will mark the beginning of our final step to the summit in this survey and in the minds of our clients.”

Earlier in the year, Colliers International announced it will combine operations and global real estate services platforms with FirstService Corporation (NASDAQ: FSRV; TSX: FSV) firms in the commercial real estate space. The combined entity will assume an industry-unique operating and partnership model and operate under the Colliers International brand.

For further information please contact:
Preedee Nukulsomprattana
Manager | Marketing & Communications
Colliers International Thailand
Tel : (662) 656 7000 # 501
Email : preedee.nukulsomprattana@colliers.com

Saturday 13 March 2010

FOR LEASEHOLD EXTENSION SUBMITTED TO THE GOVERNMENT


FOR LEASEHOLD EXTENSION SUBMITTED TO THE GOVERNMENT

On 10 March, 2010, Dr. Patima Jeerapaet, Chairperson of the Joint Foreign Chamber of Commerce's Property Committee and Managing Director of Colliers International Thailand submitted the final white paper for the proposal of Leasehold Extension to Khun Kiat Sittheeamorn, President of the Thai Trade Representative who seems to have been pleased with the proposal.

The purpose of the proposal is to stimulate a 60-year lease scheme, by ruling that the registration of two consecutive 30-year lease agreements be enforceable under the law at the Land Department. For further information of the submission, please click on link below.

Proposal for Leasehold Extension
Appendix 1 Property law comparative table
Appendix 2

Wednesday 3 March 2010

Bangkok Condominium Market Q4-2009

Colliers International Thailand has launched Bangkok Condominium Market Q4-2009

Rapid increase in supply
Q4 2009 witnessed a rapid increase in condominium units launched over previous quarters with approximately 13,700 units in total, over 9,000 of these in the suburban area. This represents a 5.8% increase in total supply q/q and a 10.7% increase y/y.

Rising in the east
The eastern fringe and the outer city east area recorded the highest price increases in Q4 y/y with 35% and 19.6% rises respectively. The preeminence of the Sukhumvit corridor as the most sought after area to live shows no sign of abating.

Mass transit on the march
Continued expansion of the new BTS lines dominates condominium growth in urban Bangkok. Q4 2009 witnessed continued development along the new BTS Silom line extension in Thonburi. The number of units completed along the extension will have risen over sevenfold from 2006 to the end of 2010.

New niche market
The new decade will herald in a significant increase of the relatively prosperous 50 to 60 age group. Developers should consider this an attractive but challenging niche market. In the next ten years there will be an additional 1.58 million people in this age category.

Cheap credit fueling growth
Interest rates remain low but rises loom in 2010. Continued low interest rates have energized the market but most forecasters predict limited increases in H2 2010.
The rebirth of suspended projects begins Nearly 1,000 units are expected to be completed by the end of 2010 from previously suspended projects. Two more projects are slated for 2011.

The urbanization of Bangkok
Mass transit development will expand the urban reach of the city with more condominium units to be supplied in the urban area than the suburbs for the next few years.

Read full report