Post on 18-Feb-2020
THAILAND Session Discussion
2014 United States
Thailand
Population (million) 318.7 67.3
GDP, Nominal (USD million) 17,418,325 373,787
GDP PPP, Real (USD million) 16,281,849 920,901
GDP per Capita, Nominal (USD) 54,644 5,557
GDP per Capita PPP, Real (USD) 51,079 13,692
Average Daily Minimum Wage (USD
58 10
2012 Chicago
MSA* Bangkok
Metro
Population 9,522,434 12,983,095
GDP, Nominal (USD million) 575,828 168,735
GDP per Capita, Nominal (USD) 69,333 12,997
Average Annual Income (USD) 56,558 6,920
Annual CBD Grade A Office Rent (USD / Sqft), 4Q14
39.64 27.92
Ritz-Carlton Residences Sale Price (USD / Sqft), 4Q14
1,100 – 1,300
800 – 1,000
Sources: Oxford Economics, US Census Bureau, US Bureau of Economic Analysis, Bank of Thailand, National Economic and Social Development Board of Thailand, JLL Research
The US, Thailand, Chicago, and Bangkok at a Glance
* Note: Chicago Metropolitan Statistical Area as defined by US Census Bureau
Transaction Activity by Asset Class*, 2011 – 1Q15
0
500
1,000
1,500
2,000
2,500
3,000
2011 2012 2013 2014 1Q15
USD
Millio
n
Other Mixed Industrial Hotel Residential Retail Office
Office, $983
Retail, $996
Residential, $301
Hotel, $2,104
Industrial, $924
Other, $613
Source: JLL Thailand Research
• 2014 a record year for asset deals, approaching USD 3 billion • Record activity the result of maturing capital markets divestment alternatives (shift
from Property Fund to REIT structure)
• Most activity since 2011 in the Hospitality sector (USD 2.1 billion), with Thai investors accounting for nearly all buying and selling activity, with limited interest from Singapore, Malaysia and Hong Kong
* Note: Excludes Development Sites
Transaction Activity by Deal Type*, 2013 – 1Q15
0
200
400
600
800
1,000
1,200
1,400
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
USD
Millio
n
Private Party PF/REITs
PF/REITs, $2,869
Private Party, $2,778
Source: JLL Thailand Research
• 2014 deal values topped USD 3.6 billion, nearly double 2013 volumes despite political turbulence
• Majority of deals in 2014 via capital markets divestment amidst transition from Property Fund to REIT structure
• Limited deal activity in 1Q15 but healthy known pipeline including multiple high-profile REIT launches and planned asset sales (e.g., office buildings and hospitality).
* Note: Includes Development Sites
Cross-Border Outbound Investment, 2009 – 2014
• Total known Outbound Investment = USD 1,391 million • All outbound investment to the USA located in the San
Francisco Bay Area
• Beijing is the most popular destination for outbound investment to China
Indicator Description
Property Kiroro Resort
Size • 46.7 Hectares • 422-Keys Hotel
Deal Type Outbound
Land Tenure Freehold
Property Type Hospitality
Location Hokkaido, Japan
Buyer Property Perfect Plc.
Seller Mitsui Fudosan
Transaction Price THB 770 million or approximately USD 24 million
Year 2012
178
0 200 400 600 800
1,000 1,200 1,400 1,600
Other China PRC
United Kingdom
Viet Nam United States
Hong Kong
Italy Malaysia
USD
Millio
n
Source: JLL Thailand Research
Cross-Border Inbound Investment, 2009 – 2014
10
0 20 40 60 80
100 120 140 160
USD
Millio
n
• Total known Inbound Investment = USD 345 million • Major Japanese Residential Investment
– Ananda Development Plc. 51% and Mitsui Fudosan 49%
– 3 Projects with Total Development Value of USD 516 million
– AP (Thailand) Plc. 51% and MJR Investment Pte. Ltd. 49%
– 5 Projects with Total Development Value of USD 394 million.
Source: JLL Thailand Research
Indicator Description
Property Ashton Asoke
Size 738 units
Project Value USD 199 million
Land Tenure Freehold
Property Type Residential
Location Bangkok, Thailand
Developer Ananda MF Asia Co.,Ltd.
Local Partner Ananda Development Plc. (51% stake)
Foreign Partner Mitsui Fudosan Co., Ltd. (49% stake)
Year 2014