A research project by the firm Jones Lang La Salle Thailand shows that the Suvarnabhumi International Airport will spur growth in commercial property. The new airport's impact on commercial markets will be only in two kinds of projects: those with existing vacant space, and unfinished ones waiting for relaunching of the Suvarnabhumi City Plan, said Benjawan Suewon prayoon, the company's head of research.
Mr. Benjawan noted that there was good potential for Pattaya, which will be only an hour's drive from the new airport. But property investors should wait for the new Suvarnabhumi City plan to ensure that their projects will fit into the new plan.
Demand for industrial and warehouse space is expected to rise as manufacturing, logistics, and services firms look to shift closer to the new airport. In the office market segment the demand has been increasing, and future improvement in infrastructure and higher employment will boost the demand for retail space also.
Mr. Benjawan added that Pattaya will be able to support tourism business as there are new many property investments there.
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