News Releases
2017

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

Mitsui Fudosan Participating in Seven New Condominium Projects in Bangkok, Thailand (Total of approx. 5,700 units)
Established Thai Subsidiary Mitsui Fudosan Asia (Thailand)
Dispatched Outside Director to Ananda

November 6, 2017
Mitsui Fudosan Co., Ltd.,
Mitsui Fudosan Residential Co., Ltd.

Key Points of the Project

  • Participating in seven new projects (total of approximately 5,700 units)
  • Mitsui Fudosan has a housing sales track record in Thailand consisting of 20 properties (total of approximately 16,000 units, including these seven projects)
  • Seeking to expand business further through the establishment of Thai subsidiary Mitsui Fudosan Asia (Thailand)
  • Dispatched Outside director to Ananda. Developing a robust partnership.

Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, and Mitsui Fudosan Residential Co., Ltd. announced today that they have decided to further expand the residential development business in the Thai capital of Bangkok through their joint ventures, Mitsui Fudosan (Asia) Pte. Ltd. (headquartered in Singapore) and Mitsui Fudosan Asia (Thailand) Co., Ltd. (headquartered in Thailand). In a display of the robust partnership with leading local developer Ananda Development Public Company Limited (Ananda), sales have commenced for five new properties (total of approximately 3,900 units) from June 2017. The Mitsui Fudosan Group is also participating in two more new projects. By taking part in these seven projects, the Mitsui Fudosan Group is now involved in over 16,000 units across 20 properties from its residential development business in Bangkok. All the projects undertaken jointly with the Mitsui Fudosan Group’s local collaboration partner Ananda have been progressing favorably.

The Mitsui Fudosan Group has been engaged in the Residential development business in Bangkok since 2013, with the aim of capturing growth in the city’s real estate market, which has continued to grow steadily over the long term, and strong demand for residential housing in tandem with the increasing population of middle-income earners. The Mitsui Fudosan Group has established Mitsui Fudosan Asia (Thailand) Co., Ltd. for the purpose of achieving steady and sustained business expansion by further leveraging expertise accumulated in housing development, marketing and other areas in Japan. In addition, in November 2017, the Mitsui Fudosan Group dispatched an Outside director to Ananda, further strengthening its partnership with this company.

The seven new projects which Mitsui Fudosan has decided to participate in are located in the Victory Monument, Phra Ram 9, and Thong Lo districts of central Bangkok, as well as the Udomsuk district in southeastern Bangkok, the Ramkhamhaeng district in northeastern Bangkok, and the Chatuchak district in northern Bangkok. All are located in areas that have earned strong reputations as residential districts.


(1) Ideo Q Victory

(2) Ashton Asoke-Rama 9

(3) Ideo Q Sukhumvit 36

(1) Ideo Q Victory: 39 floors, 348 units (planned)

Located just a 1-minute walk from Victory Monument station on the BTS Skytrain, this property offers superb transportation access, and an outstanding location for convenient living with many shopping and dining facilities nearby. The property boasts a highly symbolic exterior design and excellent living amenities such as well-appointed common facilities including a sky pool and gym.

(2) Ashton Asoke-Rama 9: 41 floors, 593 units (planned)

The Phra Ram 9 district is undergoing rapid development and transformation through large-scale developments and other projects. Located just a 3-minute walk from Phra Ram 9 station on the MRT (subway), this property will offer great access to transportation. It will feature a distinctive exterior design befitting the skyline of central Bangkok and will provide residents with excellent residential amenities such as a sky pool, gym, and spa.

(3) Ideo Q Sukhumvit 36: 24 floors·47floors, total 449 units (planned)

Located in the Thong Lo district, a highly popular area among foreign visitors and residents, including Japanese people, the property is just a 6-minute walk from Thong Lo station on the BTS Skytrain. Thong Lo station and surrounding areas host a full range of retail, dining and other facilities. The property will provide residents with an excellent quality of living through well-appointed common facilities, including a sky pool and gym.


(4) Elio Del Nest

(5) Ideo New Rama 9

(4) Elio Del Nest: 10-35 floors, total 1,459 units (planned)

Located in the Udomsuk district in the southeastern part of Bangkok, this is an area attracting strong attention due to its great potential because of The Bangkok Mall, a large-scale retail mall (under construction) as well as nearby developments such as the Bangkok International Trade and Exhibition Center. The property is a 10-minute walk from Udomsuk BTS Skytrain station, in a location featuring highly convenient living. Udomsuk Road, which links the station to the property site, is lined with a full range of facilities including a market, a community mall, and dining facilities.

(5) Ideo New Rama 9: 24 floors, 994 units (planned)

The property is located in the Ramkhamhaeng district, which has long thrived as a residential area. It is a 10-minute walk from Ramkhamhaeng station on the Airport Rail Link, which provides direct access to Suvarnabhumi International Airport. The property offers highly convenient living with a 24-hour supermarket and a large-scale shopping mall within walking distance. Residents will enjoy an excellent living experience through attractive common facilities including a pool and gym.


(6) Ideo Mobi Rangnam

(7) Elio Del Moss

(6)Ideo Mobi Rangnam: 32 floors, 366 units (planned)

The property is a 9-minute walk from Victory Monument station on the BTS Skytrain and is a 7-minute walk from Ratchaprarop station on the Airport Rail Link, offering good transportation access. In addition, there are retail and dining facilities nearby, as well as a park, which is rare for Bangkok. The property will be located along Rangnam Road, which has a strong reputation as a residential area. Residents will enjoy an excellent living experience through attractive common areas such as a sky pool and gym.

(7) Elio Del Moss: 8 floors, 1,555 units (planned)

The property will be located in the Chatuchak district of northern Bangkok, which hosts Kasetsart University and the headquarters of several companies. The neighborhood is a residential area with single-family homes and condominium buildings. Although the area is accessible mainly by bus service, it offers outstanding living convenience with adjoining dining and retail facilities for local residents. The property will realize an excellent living experience through well-appointed common facilities such as an expansive pool and gym.

The Mitsui Fudosan Group has positioned overseas business as one of its growth areas. In Southeast Asia, Mitsui Fudosan’s housing development has an excellent track record in Singapore of over 40 years, as well as 20 properties in Thailand, 3 properties in Malaysia, 2 properties in Indonesia, and 1 property in the Philippines. In Malaysia, Mitsui Fudosan is actively capturing surging housing demand and growing personal consumption, as well as contributing to local areas, while aggressively promoting its business to quickly expand earnings. Initiatives include the 2015 opening of Mitsui Outlet Park KLIA SEPANG and the start of construction in June 2017 and scheduled opening in 2021 of Mitsui Shopping Park LaLaport Kuala Lumpur (tentative name) in Kuala Lumpur.

Corporate Profile of Mitsui Fudosan Asia (Thailand) Co., Ltd.

Company name Mitsui Fudosan Asia (Thailand) Co., Ltd.
Registered address No. 388 Exchange Tower 19th Floor Unit No.1904, Sukhumvit Road,
Kwaeng Klongtoey, Khet Klongtoey, Bangkok Metropolis.
Local representative Tomoo Nakamura, Managing Director
Capital 16 million THB (approx. ¥51 million)
Date of establishment February 1, 2017
Main Business Lines Capturing business opportunities, business development

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, focusing on properties close to urban mass transit stations.
  • Ananda has a market capitalization of approximately 54.4 billion yen (as of August 2017) and revenues of approximately 39.1 billion yen (as of 2016). (1 Thai baht=¥3.2)

Plan Overview (Provisional)

Ideo Q Victory

Address Phaya Thai Road, Ratchathewi, Bangkok, Thailand
Access 1-minute walk from Victory Monument station on the BTS Skytrain
Site area Approx. 28,976 ft2 (2,692m2)
Total floor space Approx. 283,090 ft2 (approx. 26,300m2)
Structure / no. of floors 39 floors above ground / reinforced-concrete structure
Number of units 348
Schedule (Planned) June 2017 Start sales
July 2017 Start construction
2019 Complete construction

Ashton Asoke-Rama 9

Address Din Daeng Road, Din Daeng, Bangkok, Thailand
Access 3-minute walk from Phra Ram 9 station on the MRT
Site area Approx. 28,976 ft2 (6,386 m2)
Total floor space Approx. 600,260 ft2 (55,766m2)
Structure / no. of floors 41 floors above ground / reinforced-concrete structure
Number of units 593
Schedule (Planned) June 2017 Start sales
August 2017 Start construction
2020 Complete construction

deo Q Sukhumvit 36

Address 36 Sukhumvit, Khlong Toey, Bangkok, Thailand
Access 6-minute walk from Thong Lo station on the BTS Skytrain
Site area Approx. 60,665 ft2 (5,636m2)
Total floor space Approx. 459, 200 ft2 (42,661m2)
Structure / no. of floors 24,47 floors above ground / reinforced-concrete structure
Number of units Total 449
Schedule (Planned) June 2017 Start sales
November 2017 Start construction
2020 Complete construction

Elio Del Nest

Address Udomsuk Road, Bang Na, Bangkok, Thailand
Access 10-minute walk from Udomsuk station on the BTS Skytrain
Site area Approx. 171,113 ft2 (15,897m2)
Total floor space Approx. 1,088,898 ft2 (101,162m2)
Structure / no. of floors 10-35 floors above ground / reinforced-concrete structure
Number of units Total 1,459
Schedule (Planned) June 2017 Start sales
August 2017 Start construction
2019 Complete construction

Ideo New Rama 9

Address Bang Kapi, Bangkok, Thailand
Access 10-minute walk from Ramkhamhaeng station on the Airport Rail Link
Site area Approx. 85,088 ft2 (7,905m2)
Total floor space Approx. 539,164 ft2 (50,090m2)
Structure / no. of floors 24 floors above ground / reinforced-concrete structure
Number of units 994
Schedule (Planned) June 2017 Start sales
September 2017 Start construction
2019 Complete construction

Ideo Mobi Rangnam

Address Rangnam Road, Ratchathewi, Bangkok, Thailand
Access 9-minute walk from Victory Monument station on the BTS Skytrain
7-minute walk from Ratchaprarop station on the Airport Rail Link
Site area Approx. 29,256 ft2 (2,718m2)
Total floor space Approx.300,603 ft2 (27,926m2)
Structure / no. of floors 32 floors above ground / reinforced-concrete structure
Number of units 366
Schedule (Planned) October 2017 Start sales
January 2018 Start construction
2020 Complete construction

Elio Del Moss

Address Sena, Chatuchak, Bangkok, Thailand
Access 14-minute walk from the new Sena Ruam station (tentative name) (scheduled to open in 2020) on the BTS Skytrain
Site area Approx. 234,588 ft2 (21,794m2)
Total floor space Approx. 959,774 ft2 (89,166m2)
Structure / no. of floors 8 floors above ground / reinforced-concrete structure
Number of units 1,555
Schedule (Planned) November 2017 Start sales
January 2018 Start construction
2019 Complete construction

Map


Click map to enlarge

List of Mitsui Fudosan Group’s current housing projects in Southeast Asia

Project Area Property Name Start Construction Expected Completion Collaborating Company
1ThailandIdeo Q Chula-Samyan20142016Ananda Development Public Company Limited
2Ashton Asoke20152017
3Ideo Q Siam-Ratchathewi20152017
4Ashton Chula-Silom20152018
5Q Chidlom-Phetchaburi20162017
6Ideo Mobi Bangsue Grand Interchange20162017
7Ideo Tha Phra Interchange20162017
8Ideo O220162018
9Ashton Silom20162018
10Ideo Mobi Asoke20162018
11Ideo Sukhumvit 9320172018
12Ideo Mobi Sukhumvit 6620172018
13Ideo Phaholyothin-Chatuchak20172019
14Ideo Q Victory20172019
15Ashton Asoke-Rama 920172020
16Ideo Q Sukhumvit 3620172020
17Elio Del Nest20172019
18Ideo New Rama 920172019
19Ideo Mobi Rangnam20182020
20Elio Del Moss20182019
1SingaporeThe Brownstone20152017Hong Leong Group
2The Criterion20152018
3Forest Woods20162019
1MalaysiaTHE MEWS20142017Eastern & Oriental Berhad
2GEO RESIDENCES20142017Sunway Berhad
3Conlay Place20172020Eastern & Oriental Berhad
1IndonesiaCitra Lake Suites20162018PT. Ciputra Residence
2The CitraRaya subdivision in the Ecopolis Block20132024
2The PhilippinesThe Arton20182025Rockwell Land Corporation