Frasers Property, controlled by Thailand’s richest man, is banking on U.S.-China tensions to help reduce an oversupply of office space that has plagued the country’s capital.
The Singapore-based developer expects a jump in demand for offices and industrial real estate in Southeast Asia, especially its 120 billion baht ($3.6 billion) ‘One Bangkok’ project in the city center, said Chief Executive Officer Panote Sirivadhanabhakdi.
Foreign direct investment will also boost demand for warehouses, storage and other industrial properties in Vietnam and Thailand, the markets with the biggest growth potential for Frasers, he said in an interview Thursday, without giving specific figures.
