|
* 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 |
| 1 | Thailand | Ideo Q Chula-Samyan | 2014 | 2016 | Ananda Development Public Company Limited |
| 2 | Ashton Asoke | 2015 | 2017 |
| 3 | Ideo Q Siam-Ratchathewi | 2015 | 2017 |
| 4 | Ashton Chula-Silom | 2015 | 2018 |
| 5 | Q Chidlom-Phetchaburi | 2016 | 2017 |
| 6 | Ideo Mobi Bangsue Grand Interchange | 2016 | 2017 |
| 7 | Ideo Tha Phra Interchange | 2016 | 2017 |
| 8 | Ideo O2 | 2016 | 2018 |
| 9 | Ashton Silom | 2016 | 2018 |
| 10 | Ideo Mobi Asoke | 2016 | 2018 |
| 11 | Ideo Sukhumvit 93 | 2017 | 2018 |
| 12 | Ideo Mobi Sukhumvit 66 | 2017 | 2018 |
| 13 | Ideo Phaholyothin-Chatuchak | 2017 | 2019 |
| 14 | Ideo Q Victory | 2017 | 2019 |
| 15 | Ashton Asoke-Rama 9 | 2017 | 2020 |
| 16 | Ideo Q Sukhumvit 36 | 2017 | 2020 |
| 17 | Elio Del Nest | 2017 | 2019 |
| 18 | Ideo New Rama 9 | 2017 | 2019 |
| 19 | Ideo Mobi Rangnam | 2018 | 2020 |
| 20 | Elio Del Moss | 2018 | 2019 |
| 1 | Singapore | The Brownstone | 2015 | 2017 | Hong Leong Group |
| 2 | The Criterion | 2015 | 2018 |
| 3 | Forest Woods | 2016 | 2019 |
| 1 | Malaysia | THE MEWS | 2014 | 2017 | Eastern & Oriental Berhad |
| 2 | GEO RESIDENCES | 2014 | 2017 | Sunway Berhad |
| 3 | Conlay Place | 2017 | 2020 | Eastern & Oriental Berhad |
| 1 | Indonesia | Citra Lake Suites | 2016 | 2018 | PT. Ciputra Residence |
| 2 | The CitraRaya subdivision in the Ecopolis Block | 2013 | 2024 |
| 2 | The Philippines | The Arton | 2018 | 2025 | Rockwell Land Corporation |
|
|
|
