Shinwa Group, a Japanese real estate developer, is already planning to increase its investment in the building and construction industry in Thailand, local media reports. The move comes after the company successfully launched its 1st condo project in Bangkok earlier this year.
Runesu Thonglor 5 received good feedback from buyers with the development’s quota for Thai clients sold on the 1st day of sales. The company believes most of the tenants in the building will be from Japan and some construction materials and decorative items used in the project are imported from Japan. These included bathroom systems as well as Mushu-kan tiles that are known to absorb odours and moisture.
One of the key selling points of the condo was the use of the company’s signature Sigma Beam, a building beam that is adjusted from floor to floor, which can increase the usable space by 40%.
“We have received a great deal of attention to the Runesu Thonglor 5 and the innovative Sigma Beam construction technology. This is the 1st time that Shinwa Group has invested outside Japan and we chose Thailand as the 1st country,” says Wichai Chula-Olarnkul, Co-CEO of W-Shinwa, to The Nation.
The company is now looking to become a distributor of Sigma Beam in Thailand as a way to increase revenue. Shinwa Group plans to use Thailand as its marketing base and is also open to joint ventures next year. Some Thai and foreign investors have reached out to the company about partnerships but nothing has been finalised.
“We are very successful and ready to expand the market for our innovative construction technology. We intend to sell the system or jointly invest with Thai and Asean investors. There are possibilities that foreign investors who are ready to invest with us now will come from the Philippines, Singapore and Hong Kong,’’ says Wichai.
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