Serviced Apartment Business in Thailand
Four properties to open successively in 2022,
including Ascott Thonglor Bangkok
Full-scale operations to begin for five properties in Bangkok and Pattaya with over 1,800 rooms
July 8, 2022
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, July 8, 2022 - Mitsui Fudosan Co., Ltd. (“Mitsui Fudosan”), a leading global real estate company headquartered in Tokyo, announced today that it is moving forward with plans for its serviced apartment (“SA”) business through Mitsui Fudosan Asia Development (Thailand) Co., Ltd. together with Ananda Development Public Company Limited (“Ananda”), a leading Thai developer which serves as Mitsui Fudosan’s business partner. Mitsui Fudosan will entrust management to The Ascott Limited (“Ascott”), which has demonstrated a solid track record around the world.
Mitsui Fudosan will seize the opportunity from the resumption of economic activities to open all of its SAs for business. Ascott Thonglor Bangkok in July 2022, Ascott Embassy Sathorn Bangkok in August 2022, lyf Sukhumvit 8 Bangkok in September 2022, Somerset Pattaya in October 2022 respectively. Together with Somerset Rama 9 Bangkok which has already opened, a total of five properties will be in full-scale operation. In conjunction, Ascott plans to set up a contact desk for Japanese for accommodation reservations for each SA and to assist Japanese travellers and guests with their various types of inquiries or consultations in Japanese. After opening as well, Mitsui Fudosan will cooperate with Ananda and Ascott to deal with various types of inquiries and consider expanding various types of services for Japanese expatriates, business travelers and tourists to Thailand, who are particularly expected to increase.
From top left: Ascott Thonglor Bangkok exterior and interior; Somerset Pattaya exterior CG
From bottom left: lyf Sukhumvit 8 Bangkok and Somerset Rama 9 Bangkok exteriors; Ascott Embassy Sathorn Bangkok lounge and exterior
Key Points of the Press Release
- Seize the opportunity from the resumption of economic activities and open successfully three properties within the year from the opening of the Ascott Thonglor Bangkok on July 15, 2022, onward.
- Open five properties in Bangkok and Pattaya, including the already open Somerset Rama 9 Bangkok, and will offer over 1,800 rooms to meet a diversity of needs and objectives, from long-term stays to short visits (from as little as one night).
- Establish a contact desk for Japanese for accommodation reservations and to address various types of inquiries or consultations
(1) Ascott Thonglor Bangkok: 41 floors, 451 rooms (scheduled to open on July 15, 2022)
The property is conveniently located within a three-minute walk from the Bangkok Skytrain (“BTS”) Thonglor Station in the Thonglor area, a district that is particularly popular among Japanese and other foreign expatriates, business travellers and tourists. Nearby are popular restaurants, hospitals and international schools, making this a highly convenient area for everyday living.
Under the Ascott name, Ascott’s premier brand, the highest quality service is offered throughout, including guest rooms and common areas. Elegantly designed rooms range from 35 m2 to 140 m2 and are available for both short-term and long-term stays. All one-bedroom and larger rooms are equipped with a kitchen and washer/dryer, and common areas include a swimming pool, gym, conference rooms and other amenities.
Ascott Thonglor Bangkok interior
Ascott Thonglor Bangkok swimming pool
(2) Ascott Embassy Sathorn Bangkok: 37 floors, 393 rooms (scheduled to open in August 2022)
Located in Sathorn in the heart of the business district, where Japanese companies, financial institutions and the embassies of various countries are located. With a concentration of popular restaurants, hospitals, international schools and other facilities, the area is popular among Japanese and other foreign expatriates and business travelers for its outstanding convenience.
Under the Ascott name, Ascott’s premier brand, elegantly designed rooms range widely in size, from 35 m2 to 150 m2, and are available for both short-term and long-term stays. All one-bedroom and larger rooms are equipped with a kitchen and washer/dryer, and common areas include a swimming pool, gym, conference rooms and other amenities.
Ascott Embassy Sathorn Bangkok interior
Ascott Embassy Sathorn Bangkok swimming pool
(3) lyf Sukhumvit 8 Bangkok: 8 floors, 196 rooms (scheduled to open in September 2022)
Located in an area that attracts many foreign tourists and has many popular restaurants and entertainment facilities. A terrific location just a two-minute walk from Nana Station on the BTS offers outstanding access to all areas within Bangkok.
The total of 196 studios guestrooms are designed specifically for short-term stays, and well-equipped common areas include co-living and co-working spaces, a shared kitchen and other facilities intended to encourage interaction and networking among guests. This SA is based on a co-living concept, designed for the next generation of travelers, that can foster community within the facility.
Following lyf Funan Singapore, lyf Sukhumvit 8 Bangkok was built as the world’s second property in the lyf series.
lyf Sukhumvit 8 Bangkok common area interior
lyf Sukhumvit 8 Bangkok interior
(4) Somerset Pattaya: 24 floors, 324 rooms (scheduled to open in October 2022)
Located in the heart of Pattaya, a beach resort that attracts many Thai and foreign tourists. Just opposite Central Festival Pattaya, a large, popular commercial complex, it is a very convenient five-minute walk to Pattaya Beach.
The stylishly designed rooms range in size from 35 m2 to 80 m2, and while primarily intended for short-term stays, all one-bedroom and larger rooms are equipped with a kitchen and washer/dryer to also meet the needs of long-term guests. All rooms have balconies facing the coast, providing a unique beach resort atmosphere. Common areas include a rooftop swimming pool overlooking the ocean off Pattaya, as well as a bar, conference room and other amenities.
Somerset Pattaya interior CG
Somerset Pattaya rooftop swimming pool CG
(5) Somerset Rama 9 Bangkok: 35 floors, 445 rooms (opened in December 2020)
The property is in the Rama 9 area, one of the fastest-growing districts in Bangkok, where many office buildings and commercial facilities are located and is slated for continued large-scale development going forward. An expressway ramp is also nearby, providing easy access to Suvarnabhumi International Airport and other areas within Bangkok.
The stylishly designed rooms range widely in size from 33 m2 to 90 m2, addressing the needs of both short-term and long-term stays. All one-bedroom and larger rooms are equipped with a kitchen and washer/dryer, and common areas include a swimming pool, gym, conference rooms and other amenities.
Somerset Rama 9 Bangkok interior
Somerset Rama 9 Bangkok gym
[ Ananda Development Public Company Limited ]
Ananda, which will act as Mitsui Fudosan’s business partner in this project, is a major Thai developer that has demonstrated a solid track record through sales of condominiums in Bangkok and its suburbs. Thus far, Ananda has co-developed 29 properties and over 24,000 condominium units with Mitsui Fudosan, and is also developing this SA project with five properties and over 1,800 rooms. The Mitsui Fudosan Group aims to seize further business opportunities in Thailand while maximizing the property development expertise it has cultivated to date within Japan and developing this project in partnership with Ananda.
[ The Ascott Limited ]
Established in 1984, The Ascott Limited manages over 800 properties and 350,000 SA in 200 cities across 30 countries (among which are 14 properties and 2,700 apartments in Thailand) (as of the end of June, 2022). In addition to its existing brand lineup of Ascott, Somerset and Citadines, Mitsui Fudosan is now expanding its business in Thailand to include lyf, SA designed like stylish hotels catering to millennials.
[ Mitsui Fudosan’s Overseas Strategy ]
One of the aspirations of VISION 2025, the Mitsui Fudosan Group’s Long-Term Vision, is to evolve into a global company. Accordingly, the Group continues to seek robust growth in the overseas business. Mitsui Fudosan has been conducting business in countries and regions such as China, Taiwan, Southeast Asia and India, in addition to the US and UK. The Group has thus far developed the condominium business, the SA business and the logistics facilities business in Thailand, and aims to further expand its business going forward.
Map of Locations in Bangkok
Outline of Property
■Ascott Thonglor Bangkok
| Location | Thonglor Sukhumvit Road, Bangkok, Thailand | ||
|---|---|---|---|
| Access | Three-minute walk from Thonglor Station on the BTS | ||
| Site Area | Approx. 50,900 ft2 (approx. 4,730 m2) | ||
| Total Floor Area | Approx. 447,600 ft2 (approx. 41,580 m2) | ||
| Structure | 41 floors above ground, 1 below | ||
| Number of Guest Rooms | 451 total | ||
| Guest Room Types | Guest Room Floor Area | Number of Rooms | |
| Deluxe | 35m2 | 225 | |
| Studio | 45m2 | 113 | |
| One bedroom | 60m2 | 85 | |
| Two bedroom | 100m2 | 25 | |
| Three bedroom | 140m2 | 3 | |
| Opening | July 15, 2022 (planned) | ||
< Large-scale Map >
■Ascott Embassy Sathorn Bangkok
| Location | South Sathorn Road, Sathorn, Bangkok, Thailand | ||
|---|---|---|---|
| Access | A 10-minute walk from BTS Chong Nonsi and Sala Daeng stations | ||
| Site Area | Approx. 43,200 ft2 (approx.4,010 m2) | ||
| Total Floor Area | Approx. 431,200 ft2 (approx.40,060 m2) | ||
| Structure | 37 floors above ground, 1 below | ||
| Number of Guest Rooms | 393 total | ||
| Guest Room Types | Guest Room Floor Area | Number of Rooms | |
| Deluxe | 35m2 | 180 | |
| Studio | 50m2 | 72 | |
| One bedroom | 65m2 | 105 | |
| Two bedroom | 100m2 | 33 | |
| Three bedroom | 150m2 | 3 | |
| Opening | August 2022 (planned) | ||
< Large-scale Map >
■lyf Sukhumvit8 Bangkok
| Location | Nana Sukhumvit Soi 8, Bangkok, Thailand | ||
|---|---|---|---|
| Access | Two-minute walk from Nana Station on the BTS | ||
| Site Area | Approx. 15,100 ft2 (approx. 1,400 m2) | ||
| Total Floor Area | Approx. 84,700 ft2 (approx. 7,870 m2) | ||
| Structure | 8 floors above ground, 1 below | ||
| Number of Guest Rooms | 196 total | ||
| Guest Room Types | Guest Room Floor Area | Number of Rooms | |
| Studio | 15m2 | 196 | |
| Opening | September 2022 (planned) | ||
< Large-scale Map >
■Somerset Pattaya
| Location | Pattaya Soi 2 Road, Pattaya, Thailand | ||
|---|---|---|---|
| Access | Approx. 5 km to the new Pattaya High-speed Rail station; 15 minutes by car | ||
| Site Area | Approx. 74,600 ft2 (approx. 6,930 m2) | ||
| Total Floor Area | Approx. 264,600 ft2 (approx. 24,580 m2) | ||
| Structure | 24 floors above ground | ||
| Number of Guest Rooms | 324 total | ||
| Guest Room Types | Guest Room Floor Area | Number of Rooms | |
| Deluxe | 35m2 | 164 | |
| Studio | 44m2 | 84 | |
| One bedroom | 55m2 | 60 | |
| Two bedroom | 80m2 | 16 | |
| Opening | October 2022 (planned) | ||
< Large-scale Map >
< Small-scale Map >
■Somerset Rama 9 Bangkok
| Location | Rachadapisek Road, Din Daeng Khet, Bangkok, Thailand | ||
|---|---|---|---|
| Access | Four-minute walk from Phra Ram 9 Station on the MRT | ||
| Site Area | Approx. 58,900 ft2 (approx. 5,470 m2) | ||
| Total Floor Area | Approx. 431,100 ft2 (approx. 40,050 m2) | ||
| Structure | 35 floors above ground, 1 below | ||
| Number of Guest Rooms | 445 total | ||
| Guest Room Types | Guest Room Floor Area | Number of Rooms | |
| Deluxe | 33m2 | 212 | |
| Studio | 42m2 | 106 | |
| One bedroom | 57m2 | 103 | |
| Two bedroom | 90m2 | 24 | |
| Opening | December 2020 | ||
< Large-scale Map >
Mitsui Fudosan Group’s Contribution to SDGs
https://www.mitsuifudosan.co.jp/english/esg_csr/
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs. Additionally, the Group formulated the following Group guidelines related to “Realize a Decarbonized Society” and “Diversity & Inclusion Promotion” in November 2021. The Mitsui Fudosan Group will continue to work toward solving social issues through neighborhood creation.
[ References ]
Group Action Plan to Realize a Decarbonized Society
https://www.mitsuifudosan.co.jp/english/corporate/news/2021/1124/
Diversity & Inclusion Promotion Declaration and Initiative Policy
https://www.mitsuifudosan.co.jp/english/esg_csr/society/02-5.html
* The initiatives covered in this press release are contributing to two of the UN’s SDGs.
| Goal 11 | Sustainable Cities and Communities |
|---|---|
| Goal 17 | Partnerships for the Goals |
