Expanding the Housing Sales Business in Thailand
Participating in Five New Projects (Total of Approximately 4,200 Units)
August 12, 2015
Mitsui Fudosan Co., Ltd.
Mitsui Fudosan Residential Co., Ltd.
Mitsui Fudosan Co., Ltd. and Mitsui Fudosan Residential Co., Ltd. have decided to further expand the housing sales business in the Thai capital of Bangkok through their joint venture, Mitsui Fudosan (Asia) Pte. Ltd. (headquartered in Singapore). Four projects are already underway in Thailand, and in a display of the robust partnership with leading local developer Ananda Development Public Company Limited, an agreement has been made to move ahead on five new properties (with a total of approximately 4,200 units), and sales have started for two of these. By taking part in these five projects, the Mitsui Fudosan Group is involved in over 8,000 units in its housing sales business in Bangkok.
The five new projects Mitsui Fudosan recently decided to participate in are within the Phetchaburi and Silom districts in central Bangkok, the Bang Na district to the southeast, the Bang Sue district in the northwest and the Tha Phra district in the west, all of which are located within 10 kilometers of the Bangkok central business district. Construction will start some time from 2015 through to early 2016 with completion planned from 2017 to 2018. Out of these five projects, sales for Q Chidlom-Phetchaburi in the Phetchaburi district and Ideo O2 in the Bang Na district will start today as outlined below. Details of the remaining three properties are scheduled to be released in the near future.
Q Chidlom-Phetchaburi: 40 floors, 352 units (planned)
The planned site is adjacent to the Ratchaprasong main commercial area and the Siam area, making it highly convenient, and its position near Chit Lom Station on the BTS Skytrain puts it in one of Bangkok’s prime luxury residential areas. The product plan incorporates a one of its kind vertical rooftop garden, sky pool and many other common facilities to differentiate from other nearby properties.
Ideo O2: 34 floors, 1,559 units (planned)
The planned site is located in the Bang Na district of southeastern Bangkok, acting as a gateway heading from Suvarnabhumi International Airport into central Bangkok, and is a location attracting increasing attention for its future potential due to the proposed extension of the BTS Skytrain. and start of operations at the Bangkok International Trade & Exhibition Centre. The product plan will utilize its area of 23,811 m2 to incorporate lushly landscaped common area with a large scale garden,andpool as well as retail shops and cafe, making it a highly convenient lifestyle for residents, which differentiates itself from other nearby properties.
Q Chidlom-Petchaburi
Ideo O2 (From right, building A, building B, building C)
The Bangkok real estate market is projected to continue to grow steadily over the long term, and a strong demand for residences among the middle income earners is expected to increase. Mitsui Fudosan is currently collaborating with Ananda to promote these five projects, together with the existing four projects 4,100-units which includes the condominium project Ideo Q Chula-Samyan which has been sold out at launch. Ananda is a leading housing developer with the second highest sales of condominiums in Bangkok, and the third highest in all of Thailand (both figures are based on 2014 results). In carrying out the projects, Mitsui Fudosan will leverage the expertise it has accumulated in housing development, marketing, and other aspects in Japan and Singapore.
The Mitsui Fudosan Group has positioned overseas business as one of its growth areas. In Asia, the Group has residential projects in Thailand, Singapore, Malaysia, Indonesia and China. The group also has retail properties in Malaysia, “Mitsui Outlet Park Kuala Lumpur International Airport Sepang” (opened in 2015); in China, “Shanjing Outlet Plaza-Ningbo” (opened in 2011); and in Taiwan, “Taiwan Linkou Outlet Project (tentative name)” which is under development. Under “Innovation 2017 Stage II,” the Group's mid-term business plan for FY2015 to FY2017, the Group announced in May 2015 plans to execute investments of approx. \550 billion in Europe, North America, and Asia by FY2017.
Plan Overview (Planned)
Q Chidlom-Phetchaburi
| Address |
Phetchaburi Road, Makkasan Ratchathewi Sub-District, Bangkok, Thailand |
| Access |
10 minutes’ walk from the elevated railway (BTS Skytrain) Chit Lom Station |
| Site area |
2,723 m2 |
| Gross floor area |
35,636m2 |
| Total exclusive floor area |
17,749m2 |
| Structure |
42floors above ground |
| Number of units |
352units |
| Schedule |
August 2015 Start of sales
September 2015 Start of construction
September 2017 Completion |
Ideo O2
| Address |
San Phawut Road, Bang Na Sub-District, Bangkok, Thailand |
| Access |
Seven minutes’ walk from the elevated railway (BTS Skytrain) Bang Na Station |
| Site area |
23,811 m2 |
| Gross floor area |
104,712 m2 |
| Total exclusive |
floor area 53,623 m2 |
| Structure |
34 floors above ground
(building A: 34 floors, building B: 34 floors, building C: 33 floors) |
| Number of units |
1,559 units
(building A: 419 units, building B: 579 units, building C: 561 units) |
| Schedule |
August 2015 Start of sales
January 2016 Start of construction
March 2018 Completion
|
Map (Bangkok area)
Click map to enlarge
About Mitsui Fudosan group
Mitsui Fudosan group is the largest Japanese developer and manager of real estate with a comprehensive portfolio of residential, office and commercial space as well as logistics and hotel properties. Listed on the first section of Tokyo Stock Exchange, Mitsui Fudosan group is the Largest developer in terms of sales of 1,529 billion yen * and gross commercial leasable area of 4.67 million m2 * in Japan.
Drawing on Mitsui Group’s 340 year heritage of commitment and dedication, Mitsui Fudosan group is a market leader of innovation in urban redevelopment projects to create functional and stylish communities. For each project, Mitsui Fudosan group manages the whole process from research and design, build and develop, and manage and operation.
* as of March 31, 2015
About Ananda Development Public Company Limited
- Established in 1999, Ananda Development Public Company Limited is a leading Thai housing developer that listed its shares on the Stock Exchange of Thailand in December 2012.
- Ananda has built a distinctive value chain with its own housing management company, real estate brokerage company, and construction company within one group. It also manages a membership organization whose members are potential customers
- Ananda is proposing comfortable, urban residential lifestyles via mass media, concentrating on properties close to urban mass transit stations.
- Ananda has a market capitalization of 39 billion yen (as of July 2015) and revenues of 37 billion yen (as of fiscal 2014).
