Date of article: Q4 2019
Many investors and large-scale developers continue to focus on Bangkok and Thailand’s tourist destinations to extend their reach. But are they are overlooking exceptional opportunities elsewhere in the Kingdom? According to Isan Real Estate, the answer is a resounding yes. In particular, the agency believes Nong Khai, Udon Thani, and Khon Kaen are brimming with potential. All three of these provinces are set to benefit from China’s Belt and Road Initiative. Northeast Thailand will receive a boost from the high-speed train network that will connect several Southeast Asian countries to China, opening the door to lucrative trade opportunities that are currently difficult to establish and maintain. The high-speed train, which could be completed as soon as 2023, will create a direct connection between Nong Khai and Kunming in China via Laos. This advancement would significantly slash travel times between the two cities. From Kunming, it is also possible to reach China’s other major centres in a timely fashion. Nong Khai is interesting because of its location next to the Mekong River. The area could soon become a central hub for all of Asia with direct access to China, Malaysia, and Singapore as well as Bangkok. Isan Real Estate, the winner of Thailand’s Best Real Estate Agencies 2018 Presented by Leading Real Estate Companies of the World® at the Dot Property Thailand Awards, has been carefully monitoring the highspeed train project since it was first presented by the Chinese government to Thailand. The company believes a number of opportunities are now available in the Northeastern provinces of Thailand since the rail project continues to move forward. Ernie Draper, Managing Director at Isan Real Estate, points to a 141 Rai (56 acres) plot of land with Mekong River frontage that would be a 10-minute drive from the proposed Nong Khai train station as an example of what can be accomplished. He believes the site could be home to an international business centre with office space for multinational corporations, a 5-star hotel, a shopping mall, and many other lifestyle facilities. While these types of developments are normal in Bangkok, for a province such as Nong Khai, this would be a gamechanger.