Bangkok (8 August 2017)- Thailand’s full-service real estate developer Sansiri and Japanese conglomerate Tokyu Corp. whose illustrious portfolios include railway development and operation in the peripheries of Tokyo, urban and real-estate development, hotel and resort operations and various other businesses, have joined forces to develop property for both Thai and foreign buyers under a new joint venture named Siri TK One Co. Ltd. in September, the new firm will unveil its first condominium development, taka HAUS, in the Sukhumvit–Ekkamai neighbourhood. With an estimated value of 2 billion baht, the development will be tailored specifically to the lifestyles of Thai and Japanese residents. In the long run, both developers will consider the possibility of jointly developing a community, based on the success of Sansiri’s T77 and Tokyu’s urban development experiences in Japan.
Mr. Uthai Uthaisangsuk, Chief Operating Officer of Sansiri Public Co. Ltd., announced that Sansiri has partnered with Tokyu Corporation who specialises in the development and operation of a railway network in the peripheries of Tokyo, urban and real-property development, hospitality businesses and many other operations, and Saha Tokyu Corp. Ltd., to establish Siri TK One Co. Ltd. Sansiri itself holds 70% of this joint venture’s shares, while Tokyu Corporation. and Saha Tokyu hold 29% and 1% of the remaining shares, respectively. The purpose of this strategic partnership is to develop condominium projects, starting with a 2-billion-baht development named taka HAUS.
“This alliance between Sansiri and the Tokyu Corporation stems from the similarities between our business philosophies. With Sansiri’s mission statements of ‘Complete Your Living Experience’ and Tokyu’s group slogan of ‘Toward a Beautiful Age’, both of our companies go beyond developing houses; we offer products that improve customers’ lifestyle. We gain insights into our customers’ needs by putting ourselves in their shoes, studying their consumption behaviours and gathering the residential needs of each target group. Thanks to all of this, we are confident that this partnership will bring about an urban development brimming with endless possibilities, set a new standard for Thailand’s real-estate sector and transform residential development at an international level. With this partnership, we will develop a condominium named taka HAUS on Ekkamai 12. The 2-billion-baht project will be tailored to the lifestyles of both Thai and foreign nationals. It will be launched in September,” the chief operating officer stated.
In addition to similar philosophies, this partnership also came about because Tokyu Corpotation(Japan) saw the potential of Sansiri, a 33-year-old Thai real-estate developer and service provider with a sizable collection of highly successful residential projects that meet varying consumer demands both in Thailand and overseas. Sansiri has earned a lead role in Thailand’s real-estate market thanks to a full range of products and services on offer. It is well known and praised for developing premium collections of detached homes, twin homes, town homes, home offices and condominiums across the country. The company has so far developed 318 projects, comprising 86,000 housing units in 17 provinces. It has even piloted a project overseas in the heart of London, England, at 9 Elvaston Place, to showcase its potential in the international arena. Moreover, Sansiri has strengthened its core real-estate business with expansions into other related businesses. For instance, Sansiri operates a community mall called Habito, whose rentable spaces for shops and restaurants have just opened last year. The developer also owns a subsidiary called Plus Property Co. Ltd., which offers a comprehensive range of property-related services, such as brokerage, sales and property management. It has been trusted by the public and private sectors for its all-inclusive services and consultancy for over 20 years.
Sansiri would also like to explore the possibility of long-term collaboration since both companies operate under very similar philosophies of going beyond mere construction of homes. The Tokyu Corporation has much experience in developing an entire town. For instance, it has developed Tokyu Tama Denen–Toshi located in the southwest of Tokyo, spanning over 5,000 hectares. This grand-scale development is located only 15 to 30 kilometres from the centre of Tokyo, namely Kawasaki, Yokohama, Machida and Yamato. The town has approximately 600,000 people (as of 31 March 2012). It is considered the largest urban development in Japan by a private entity. The group also plans on developing Shibuya into an entertainment city. Meanwhile, Sansiri itself has successfully developed the T77 community under the concept of “A Good Town for Good Life.” Catering to all lifestyle needs, this development is situated on an area of 50 Rai in the centre of Sukhumvit 77. It is located in close proximity to the SkyTrain and the Ram Inthra–At Narong Expressway. The community is home to six Sansiri condominium projects, a townhouse development, a premium apartment by MK Real Estate Development, Sansiri’s first lifestyle community retail mall and Bangkok International Preparatory and Secondary School (Bangkok Prep). All of this elevates the standard of living for T77’s residents and provides living solutions for both Thai and foreign urbanites in the Sukhumvit neighbourhood. Sansiri has also been successful in the development of the Ran Inthra area by transforming Satitpattana School into a leading Bangkok school, attracting customers to Sansiri’s developments nearby.
“In the future Bangkok will most likely become a city of clusters, much like other major world cities. In other words, there will be several city centres instead of one downtown area. Choosing the right cluster will be crucial in terms of living and investment. Facilities and amenities will not be confined to inner Bangkok like today, but will be spread out in different clusters. Each cluster will most likely be anchored to a mass rapid transit train station instead of the traditional district or road. As Bangkok is still expanding its transport infrastructure, we believe that there is potential for even more demand for residential developments along these mass rapid transit lines and existing communities. Sansiri and Tokyu see the opportunities and possibilities of future collaboration in developing a community with homes, entertainment centres, schools and a comprehensive range of facilities. We’d like to provide lifestyle solutions that allow clusters to prosper and lessen people’s reliance on inner Bangkok,” the chief operating officer stated.
Meanwhile, Mr. Toshiyuki Hoshino, Director, Senior Managing Executive Officer and Executive General Manager of International Business Headquarters of Tokyu Corporation, stated that the Tokyu Corporation began with the Meguro–Kamata railway in 1922. As of March 2017, the Tokyu Group operates a total of 221 companies and eight other incorporated organizations under Tokyu Corporation. Its operations extend across a wide range of sectors, encompassing transportation, real estate, retails and hotels.
The history of Tokyu Corporation, the head company of the Tokyu Group, will be soon 100 years and it has been improving the Japanese urban livelihood through continuous combined development of transportation and real estate. The investments and development includes retail facilities, schools and hospitals which support the convenience & attractiveness to residents along the Tokyu railways, and this brought us the thankful reputation of our town as the most attractive place to live. Tokyu Corporation has been delivering its condominiums with “Dresser” brand with its core concepts of “Creativity”, “Habitability”, and “Safety”.
“In Thailand, Tokyu Construction has JV businesses with Ch. Karnchang PCL since 1981. It has contributed to deliver main roads, bridges, offices, schools, factories; and most recently, it has delivered the construction of the MRT Purple Line. In retail field, Bangkok – Tokyu Department Store Co., Ltd. has been appreciated by many customers since its open in 1985, and it has opened the second store in the Paradise Park Shopping Center in Srinagarindra. And in 2014, Tokyu Corporation together with Saha Group have set up the JV Company of Saha Tokyu Corporation Ltd. and commenced serviced apartment of “HarmoniQ Residence Sriracha” for Japanese expatriate families opened in 2016. Thankfully, the “HarmoniQ Residence Sriracha” is operating with nearly full occupancy and is been received wonderful reputation.” Mr. Hoshino noted.
Then Mr. Hoshino continued “We respect this strategic partnership with Sansiri which has the mutually understandable value and vision. We understand that there is a cultural difference between Thailand and Japan, thus by led by the Thai national leading and experienced developer of Sansiri, Tokyu will challenge its best to add values to deliver the comfortable, safe and beautiful living environment.”
Furthermore, there exists multiple economic corridors in Thailand and is considered as the Hub of Greater Mekong Subregion. There exists large sized industries, and the Government leads the advancement of the industry, and that should bring the Thailand continuous growth. Especially Bangkok continues to attract people as the centre of the economy and that brings the sustainable housing demand.” Mr. Hoshino concluded.
In addition to our collaborative research and development efforts in this partnership, Tokyu is also equipped with businesses that will promote our new project among Japanese buyers, namely the Tokyu Livable. The expertise in real-estate sales, leasing and consultancy will expand our business potential among Japanese buyers, ensuring optimal mutual benefits and building a more robust business relationship. It’s a long-term business partnership that will create value added to both parties in a sustainable manner
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About Sansiri
Sansiri is a leader in Thailand’s property development scene. Over the past 33 years the company has taken roots and established standards for residential construction. Every project of Sansiri showcases the company’s commitment, ahead-of-its-time design and a full range of uses that deliver a good quality of life and the utmost satisfaction to homeowners, living up to its ideology of always providing the best of the best to customers.
Sansiri was established on a solid foundation that was Sansamran Co. Ltd. Founded in 1988, Sansamran became the talk of the town with its premium resort condominium named Baan Kaimuk on the ever-popular beach of Hua Hin. The property stands out with Sansamran’s exclusive mustard-coloured mosaics. Because of this state-of-the-art development, the company became known as a trendsetter and has set the industry’s standards ever since. Eight years later, Sansamran Co. Ltd. and Siripinyo Co. Ltd., two of Thailand’s real-property giants, combined their assets and registered the new company with the Stock Exchange of Thailand under the name Sansiri Public Co. Ltd., proudly making its mark as an industry leader. In the same year, its subsidiary Plus Property Co. Ltd. was opened to provide a more comprehensive range of residential brokerage and property management solutions.
Having earned the leading position in Thailand’s real-property sector, Sansiri offers a complete range of products and services. It is well known and praised for developing a premium range of detached homes, twin homes, town homes, home offices and condominiums across the country. The company has so far developed 318 projects, comprising 86,070 housing units in 17 provinces. It has even piloted a project overseas in London, England, at 9 Elvaston Place, to showcase its potential in the international arena.
About the Tokyu Corporation
The Tokyu Corporation’s humble beginning was the Meguro–Kamata railway in 1922. As of March 2017, the Tokyu Group operates a total of 221 companies and eight other incorporated oeganizations under Tokyu Corporation. Today, its operations extend across a wide range of sectors, encompassing transportation, real estate, lifestyle & services, and hotels & resorts.
Tokyu Corporation, its main business, has improved the urban livelihood through long-term development of transport services. In addition to this core, the company also invents and develops services that support the day-to-day activities of Japanese consumers.
In Thailand, the Bangkok - Tokyu Department Store Co., Ltd. operates two department stores in Bangkok under the name Tokyu Department Store, where premium quality products from Japan can be purchased. Through Tokyu Construction Co. Ltd., the company has joined forces with a leading Thai construction firm in the founding of Ch. Karnchang–Tokyu Construction Co. Ltd., whose growing core operation is the construction of highways and manufacturing plants of Japanese companies in Thailand. Moreover, Tokyu continues to promote an awareness of the Tokyu brand among Thai consumers and will launch activities that attracts tourists to Shibuya.
