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Real Estate
The Real Estate Collapse of 2020

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Real Estate
The Lower East Side: Where Historic Tenements Meet Glassy Towers

AdvertisementContinue reading the main storySupported byContinue reading the main storyLiving inThe Lower East Side: Where Historic Tenements Meet Glassy TowersIn recent years, the country’s ‘most famous immigrant neighborhood’ has welcomed new high-end development. But it still has an old-school vibe.Living On … The Lower East Side16 PhotosView Slide Show ›Karsten Moran for The New York TimesDec. 23, 2020, 5:00 a.m. ETRichard Kimmel was drawn to the Lower East Side partly by “a lot of family history,” he said, including his great-grandmother, “who arrived at Ellis Island on the Fourth of July in 1890,” and made her way to the densely populated neighborhood that has long been a haven for immigrants of many origins, with Eastern European Jews predominating at the turn of the last century.The lure became stronger, Mr. Kimmel,

Real Estate
Raimon Land rejigs investment plan

Raimon Land yesterday signed an agreement with Thailand Privilege Card to become the first developer to provide the Elite Flexible One privilege card. Following a change in its major shareholders three months ago, SET-listed developer Raimon Land Plc (RML) has revised its plans, revoking an in-vitro fertilisation (IVF) venture and selling a land plot on Sukhumvit Soi 19 that had been earmarked for a new hotel development. Sataporn Amornvorapak, Raimon Land’s chief finance officer, said the company had decided to cancel an investment plan in an IVF business, which would have involved the opening of fertility wellness centres in two locations. One of the centres was to have occupied one floor of One City Center (OCC), a new grade-A office tower on Phloenchit Road with a total lettable area of 65,000 square metres. RML is developing this site, which is scheduled for completion in 2022. This space will now be

Real Estate
Property developers optimistic about stimulus

A condominium near On Nut station in Bangkok. Permanent residency for foreign buyers is among the property stimulus measures proposed by developers. The Finance Ministry may consider a proposal by property developer associations on approving stimulus relief for outstanding mortgage loans totalling 600 billion baht as a means to improve sentiment regarding property stock, especially in the condo segment, says Asia Plus Securities (ASP). On Dec 9, property developers submitted a letter to the ministry proposing five stimulus measures for property development. First is the reduction of ownership transfer fees and mortgage fees to the lowest rates on purchases of both new and second-hand homes until Dec 31, 2021. Second is the temporary cancellation of LTV (loan-to-value) measures. Third is the extension of the land and buildings tax reduction by 90% for two more years, effective from Jan 1, 2021 to Dec 31, 2022. Fourth is the extension of visa duration for