Pattaya-based Kingdom Property launched the first in a series of round-table dinner talks at Grand Hyatt Erawan Ballroom recently, as luminaries from the city’s leading property, banking and investment companies gathered to hear the keynote address of prominent fund manager and investor James Quille.
Quille (pictured with Kingdom Property’s Chief Executive Officer Nigel Cornick), was upbeat on property investment in Thailand, and Asia in general, saying there was a strong trend towards more direct investment in real estate.
"The Thai real estate industry over the next five to 10 years is in a very good place," he said.
"Thailand has a balanced economy with good demographics which is good for investment flows including real estate, and like most of Asia has the potential to enter a sweet spot in terms of its ability to attract investment by institutional capital. There is a growing trend towards institutional investors allocating a higher proportion of their portfolio into real estate funds, which will certainly benefit the market with the emergence of REITs (Real Estate Investment Trusts) in Thailand."
However Quille however cautioned against excessive capital controls. “if you put up barriers restricting capital’s access to the market, you risk losing that capital to markets that are more open offering more returns and less risk".
Quille is Chairman of Macquarie Global Property Advisors (MGPA) and has assets under management of US$12 billion. He is also one of Private Equity Real Estate magazine’s top 30 most influential global investors.
Kingdom’s CEO Cornick said Quille’s experience and vision in the funding of prominent real estate developments in Asia and Thailand, made him the ideal choice to begin the series.
"It was a pleasure to have Jim join us and we are very grateful for his time. His experience in this region is second to none and I am sure those in attendance received some great insights from him," he said.
"His views and expertise have certainly set the bar high for the round-table events and we will look forward to announcing the next speaker shortly."
Kingdom Property is a leading property developer in Thailand, with its focus on the Eastern Seaboard. Its Southpoint project is scheduled for completion in 2015. More than 60 percent of the twin-tower project has been sold, including the second tower to a single buyer who will offer it as internationally-managed serviced residence, and the recent sale of 87 units to Hong Kong-based Purple Link Investment Company in the main tower.
Led by Cornick, Kingdom Property has a potential project pipeline valued at THB20 billion.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote
this story. To contact him about this or other stories email andrew@allproperty.com.sg
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