{"id":22263,"date":"2016-08-08T16:55:14","date_gmt":"2016-08-08T09:55:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/thailand-will-see-its-first-reit-this-year\/"},"modified":"2016-08-08T17:02:03","modified_gmt":"2016-08-08T10:02:03","slug":"thailand-will-see-its-first-reit-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thailand-will-see-its-first-reit-this-year\/","title":{"rendered":"Thailand will see its first REIT this year"},"content":{"rendered":"


\nAll eyes on the metamorphosis of the Sri Panwa Hotel Property Fund
\nSri Panwa resort in Phuket, Thailand. Image credit: Sri panwa Hotel (Wikimedia Commons)
\nPlans to create Thailand\u2019s first real estate investment trust (REIT) may finally come to fruition this year.
\nThai developer Charn Issara Development PCL is currently waiting for approval from the Securities and Exchange Commission to turn its Sri Panwa Hotel Property Fund into a REIT this year, DealStreetAsia reported.
\n\u201cThis is the first property fund in Thailand that is turned into the REIT,\u201d said Charn Issara CEO Songkran Issara. \u201cThe transformation is necessary as we want to enable the fund to continue growing and investing in other assets.\u201d
\nMore: June to herald the beginning of Thailand REITs
\nTo finance the transformation, Charn Issara will raise THB1.2 billion baht (USD34.3 million) from selling the second phase of its luxury Phuket resort Sri Panwa and its residential development X29.
\nCharn Issara REIT Management (CIRM) has been formed to manage the trust. Serving as fund caretaker is SCB Asset Management CEO Smith Banomyong, who vows to complete the transformation process before 2017 to lessen the property tax burden as well as maximise tax incentives.
\nRead next: Phuket Town is easily one of Thailand\u2019s most endearing enclaves
\n
\nSource : property-report.com
\nRead more…Thailand will see its first REIT this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

All eyes on the metamorphosis of the Sri Panwa Hotel Property Fund Sri Panwa resort...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-22263","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5N5","jetpack-related-posts":[{"id":37442,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/these-are-thailands-priciest-villas\/","url_meta":{"origin":22263,"position":0},"title":"These are Thailand\u2019s priciest villas","date":"December 8, 2016","format":false,"excerpt":"\r The hunt for income-producing properties may start here A show suite at MontAzure in Phuket A villa project within MontAzure, a mixed-use luxury development in Kamala Beach in Phuket, is set to launch next month. 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