The rebirth of the legendary Dusit Thani Bangkok, and additional stories

For PropertyGuru’s real estate news roundup, Dusit Thani Bangkok, the flagship hotel of Dusit International, has made its highly anticipated return after a stunning transformation. In other updates, Minister Nguyen Thanh Nghi of Vietnam’s Ministry of Construction exchanged experiences in urban development with Solomon Greene of the US Department of Housing and Urban Development in Washington, DC. Lastly, Cambodia’s real estate market in the first nine months of 2024 has not shown any notable positive signs despite government efforts.

The legendary Dusit Thani Bangkok reopens after a landmark transformation

Dusit Thani Bangkok, the flagship hotel of Dusit International, one of Thailand’s leading hotel and property development companies, has made its highly anticipated return after a stunning transformation as part of the upcoming Dusit Central Park project opposite Lumpini Park in the heart of the city.

The Hotel Conversation stated that the opening, held on 27 September 2024, was marked by a special ceremony featuring Mr Chanin Donavanik, Vice Chairman of the Board of Directors and Chairman of the Executive Committee, Dusit International, who had the honour of being the first guest to check-in.

This gesture pays tribute to his mother’s enduring legacy in launching the original hotel in 1970. Guests from across the globe travelled to be among the first to experience the hotel’s exquisitely designed Suites and Club Rooms, where expansive, cantilevered picture frame windows capture breathtaking, uninterrupted views of Lumpini Park, providing an unmatched accommodation experience in the city.

Vietnam and the US share experiences in urban development

Minister Nguyen Thanh Nghi said that the Ministry of Construction always encourages and supports US companies to collaborate and invest in construction projects with Vietnamese enterprises to enhance the quality of human resources and real estate products.

Meeting with Solomon Greene, Principal Deputy Assistant Secretary for Policy Development and Research at the US Department of Housing and Urban Development (HUD), in Washington, DC recently, Nghi shared Vietnam’s policies on social housing development and apartment renovation, as well as its experiences in responding to climate change as well as disaster and disease prevention.

VietnamPlus reported that the two sides exchanged experiences and policy solutions for housing and urban development in their respective country.

Cambodia’s real estate market remains quiet during the first 9 months of ‘24

Despite the government’s recent efforts to expand infrastructure development – such as roads, airports and airstrips – Cambodia’s real estate market in the first nine months of 2024 has not shown any notable positive signs, according to industry experts.

Sam Soknoeun, president of the Global Real Estate Association and SAM SN Group, told The Phnom Penh Post on 9th October that although the COVID-19 pandemic has subsided, geopolitical conflicts and ongoing armed disputes between certain countries continue to negatively impact global economic growth. He said that since Cambodia’s real estate market heavily depends on international investment, a struggling global economy is bound to affect the Cambodian real estate sector adversely.

“For buying, selling, renting and real estate prices in Cambodia during the first nine months of 2024, there has been no significant change compared to the end of 2023,” he added.

However, with more than a decade of experience in real estate, Soknoeun mentioned that now is an opportunity for those with available funds and a long-term vision to acquire property in good locations at reasonable prices.

The Property Report editors wrote this article. For more information, email: [email protected].