Proposal for Vladimir Voskresensky

Investment Determination of Land Banking

Eastern Economic Corridor · Kingdom of Thailand

WhiteIndex Research&Advisory 2026
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This proposal is confidential and intended exclusively for the addressee.

Context and Scope
The Eastern Economic Corridor (EEC) is the most capital-intensive zone of industrial and infrastructure transformation in Southeast Asia. Over the 2026–2032 horizon, the region is set to accumulate public and private investment exceeding 2.2 trillion baht, spanning three provinces — Chonburi, Rayong, and Chachoengsao — each with a distinctly different growth profile.

As price pressure in mature sub-markets (Pattaya, Si Racha) has already been reflected in asset valuations, the window for forming a land bank at pre-consolidation prices is narrowing. This study is designed to systematise that window: to identify pricing anomalies, map infrastructure impulses, and formulate concrete entry and exit strategy recommendations.

Geographic Coverage
ИсThe study covers 27 administrative districts (amphoe) across three EEC provinces, with differentiated analytical weighting according to the investment maturity of each sub-market.

Chonburi Province: Bang Lamung, Si Racha, Mueang Chonburi, Sattahip, Phanat Nikhom, Ban Bueng, Bo Thong, Ko Chan, Nong Yai, Phan Thong

Rayong Province: Mueang Rayong, Ban Chang, Pluak Daeng, Nikhom Phatthana, Map Ta Phut, Klaeng, Wang Chan, Ban Khai

Chachoengsao Province: Mueang Chachoengsao, Bang Pakong, Bang Nam Priao, Bang Khla, Phanom Sarakham, Ratchasan, Sanam Chai Khet, Tha Takiap, Khlong Khuean

Deliverables
All findings are delivered as written analytical recommendations and interactive maps.
  • Pricing Corridor Map
    An interactive geo-analytical map (Google Maps / Yandex Maps platform) with colour-stratified pricing zones based on land value per rai. The methodology draws on a combination of actual market transactions, listing data, and official appraisal values from the Thai Land Department.

    The map identifies three asset categories:
    Overvalued assets — market price above the sub-market consensus
    Fairly valued assets — price in line with market level
    Undervalued assets with growth potential — prices lagging behind fundamental drivers

    The third category constitutes the priority target list for land banking.
  • Infrastructure Impulse Map
    A standalone or combined interactive map marking infrastructure assets that exert a measurable influence on land values. Coverage spans existing and announced projects across three categories:

    Transport infrastructure — high-speed rail, motorway expansion, port capacity
    Industrial infrastructure — special economic zones, industrial parks, logistics hubs
    Social infrastructure — medical clusters, educational nodes, commercial anchors

    Each asset is accompanied by an analytical card assessing its price-impact radius and the time horizon over which the effect is expected to materialise.
  • Investment Recommendations
    A structured analytical document comprising:
    A prioritised target list of sub-markets with supporting rationale
    Scenario modelling of land bank formation strategies within the client's budget corridor
    An exit strategy matrix — resale, built-to-suit for an anchor tenant, development, participation in a REIT structure — with realistic horizon and return assessments.
Engagement Format

Deliverables are provided in three components: interactive mapping materials with personal web access, a PDF analytical report, and a results review session with the WhiteIndex team. Language: Russian and/or English.

Based on the WhiteIndex proprietary dataset

Thailand Real Estate Investment Landscape
2026

A strategic Atlas of Demand, Infrustructure and Growth

Strategic Intelligence Report: Thailand Real Estate Investment Landscape
Methodology
The WhiteIndex methodology is built on multi-layer data aggregation from sources of fundamentally different nature and temporal profiles, with cross-layer verification.

Five nalytical Layers
Layer I. Transactional and Registry Data
The baseline layer comprises data from the Thai Land Department (กรมที่ดิน) on actual land purchase and sale transactions across all 27 EEC districts. We work with documented transaction prices rather than official appraisal values (ราคาประเมิน), which in certain sub-markets trail actual market levels by 30–60%.

This layer establishes the historical price baseline and directional price movement for each sub-market over the past four years.

Layer II. Market Monitoring and Price Intelligence
Parallel monitoring of active listings across Thai and international platforms — DDproperty, Hipflat, FazWaz, Livinginsider — as well as direct offers from Thai brokers and developers. Listing prices are benchmarked against transaction prices to calculate the closing discount for each sub-market.

The output is a current map of where the market is transacting versus where it is asking.

Layer III. Predictive Analysis of the Infrastructure Calendar
The most critical and labour-intensive layer. EEC infrastructure projects — high-speed rail, U-Tapao expansion, industrial parks, interchanges — are fully announced in official communications. The challenge is that a significant portion are running behind schedule, while others remain at the level of political declarations without confirmed funding.

We conduct independent verification of each infrastructure asset across three parameters: funding status (confirmed budget vs. political commitment), the track record of similar projects by the same contractor or agency, and the degree of physical progress to date. Each asset is assigned one of three status classifications:
High probability of delivery within the stated timeline
Moderate probability with horizon adjustment
Low probability with material risk of deferral or cancellation

This fundamentally changes the infrastructure impulse map: the investor sees not what has been promised, but what will realistically happen — and when.

Layer IV. Developer Activity and Insider Monitoring
The movement of large-scale developer capital leads price changes by 12–24 months. We track several early-activity indicators: applications for rezoning and change of land use at local authorities; activity in consolidating adjacent plots (a sign of preparation for a major project); the emergence of brokers from large developer groups in sub-markets outside their previous perimeter; and intelligence from our professional network — Thai lawyers, land agents, and developers operating in the region.

This layer resists formalisation, but it is precisely what enables the identification of sub-markets at the stage that precedes visible price movement.

Layer V. Regulatory and Legal Monitoring
The investment attractiveness of a sub-market cannot be assessed in isolation from its legal environment. We analyse current changes in zoning (Phang Muang), provincial and regional land use plans, the status of BOI zones and their practical impact on land accessibility for foreign capital, and enforcement practice over the past 12–18 months with respect to foreign ownership structures.

This layer shifts the investment recommendation from 'where is it profitable' to 'where is it profitable and legally executable'.

Synthesis and Calibration
The five data layers are consolidated into a single analytical model, from which three study deliverables are produced. Before the model becomes a recommendation, however, it is calibrated to the specific parameters of the client: budget corridor, time horizon, acceptable risk profile, and preferred asset formats.

There is no universal land banking recommendation. A sub-market optimal for an investor with a ten-year horizon and capital of five million dollars may be entirely unsuitable for an investor with a three-year horizon and a five-hundred-thousand-dollar budget. This is precisely why the brief is not a formality — it is the starting point of the analysis.
Package Discription
Disctrict
Focused analysis of one administrative district of the EEC, selected by the client. Suited to an investor who has already identified a geographic position and requires analytical verification prior to entry.

Deliverables:
Pricing corridor map with colour stratification and undervalued zone markers
Infrastructure impulse map with probability assessment for each asset
Analytical memorandum — price range, 24-month dynamics, developer activity, legal profile
Results review session — 60 minutes (online or in-person)

Upgrade to Package II within 30 days: additional $3,000
$5000
Cluster
Cluster analysis of three adjacent or thematically linked districts. Enables comparison of sub-markets within a single investment thesis — for example, three districts along a transport corridor or three districts with differing industrial development profiles.

Deliverables:
All Package I deliverables for each of the three districts
Comparative matrix across districts — entry price, liquidity, infrastructure impulse, developer activity, legal profile
Prioritised target list of assets and zones within the selected districts
Scenario modelling of two exit strategies for the selected sub-markets
Results review session — 90 minutes

Upgrade to Package II+ within 30 days: additional $3,000
$8000
Province
Suited to an investor who has identified a province as their strategic area of interest and seeks a comprehensive picture within it — without the excess coverage of the other two EEC regions.

Deliverables:
•        Interactive pricing corridor map for all districts in the selected province, with a unified calibration scale
•        Interactive infrastructure impulse map with predictive delivery probability assessment
•        Comparative matrix of all districts by key investment parameters
•        Prioritised target list with ranking by investment attractiveness across two horizons: under 2 years and 2–5 years
•        Land bank formation strategy recommendations calibrated to the client's budget corridor
•        Results review session — 120 minutes

Upgrade to Package III within 45 days: additional $7,000
$11000
EEC Full
A comprehensive investment determination of the EEC land market. A systemic instrument for investors forming a diversified land bank or making strategic positioning decisions across the region.

Deliverables:
Unified EEC pricing corridor map with cross-province calibration
Unified EEC infrastructure impulse map with predictive delivery calendar analysis
Consolidated analytics across all 27 districts ranked by investment attractiveness across three horizons: under 2 years, 2–5 years, 5+ years
Full land bank formation and exit strategy document calibrated to the client's budget corridor
Two results review sessions (online or in-person).
$18000
Common to all Packages
Maps delivered in interactive format with personal web access
Analytical materials in Russian and/or English, PDF format
Dataset: WhiteIndex EEC 2026, updated as of the study launch date
Full confidentiality — results are not shared with third parties or used in aggregated public products