Thailand Privilege Card Co targets naturalized Chinese businessmen in Cambodia to boost real estate market

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Thailand Privilege Card Co (TPC), the operator of Thailand Elite Card, is targeting CLMV (Cambodia, Laos, Myanmar and Vietnam) investors, especially naturalized Chinese businessmen, to invest more in real estate.

Due to the rigid travel restrictions on the mainland, many Chinese investors have opted for naturalization in Cambodia and Myanmar where they have businesses, in order to continue their business trips without obstacles, said Ratchadawan Loetsilathong, vice president. of Administrative and Corporate Affairs and Acting President of TPC.

These investors are the target of the 500,000 baht Elite Flexible One, which requires applicants to purchase real estate worth at least 10 million baht with proof of ownership.

Currently, 28 real estate developers are participating and 85 real estate projects are available in the program, which will continue until the end of this year.

As of May 6, the Elite Flexible One has five members, mostly from China, who have purchased condos from four property developers – Sansiri, Siamese Asset, Ananda Development and Landmark Holdings.

The total trading volume was 91.05 million baht, with one member spending 30 million baht on a condo.

“There are still more Chinese buyers who want to join the program, but they cannot travel to Thailand to visit the project sites to finalize their decisions,” Ms. Ratchadawan said.

Their assets must not be purchased through mortgages and cannot be sold and transferred within five years.

Elite Flexible One cardholders will enjoy benefits such as a five-year multiple-entry visa for Thailand, use of premium lane at airports and transfer services.

Meanwhile, TPC has also expanded the market for the Flexible Plus program to stimulate investment of at least $1 million in Thailand through real estate, a limited liability company or a public company. , or fellowship, members receiving five-year work permits.

The company held a roadshow on May 10-11 to attract high-net-worth individuals to Singapore, including investors, bankers and businessmen from the Singapore Business Federation.

It will host other roadshows, starting with Tokyo, Osaka, Fukuoka, Hiroshima and Sendai in Japan in July, followed by Shanghai, Guangzhou, Xiamen and Beijing in China in September.

In November, it will introduce the card in Dubai and Abu Dhabi in the United Arab Emirates.

As of March 31, there were 16,979 Elite cardholders. https://www.bangkokpost.com/business/2319646/clmv-investors-targeted-to-boost-real-estate-market

  • Key words: real estate market, Thailand Privilege Card
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