Thai property developer Ananda and its Japanese counterpart Mitsui Fudosan have announced a joint venture to co-invest and launch four new upmarket condominiums worth THB14.5 billion.
Ananda is expected to launch of four major projects; Ashton Asoke (pictured), Ideo Q Siam-Rachatevee, Ideo Mobi Sukhumvit Eastgate, Ideo Mobi Wongsawang Interchange, on October 16 – October 19. The company and also showed of the strength of its partnership with Mitsui Fudosan by announcing a further series of joint venture projects.
Chanond Ruangkritya, President and Chief Executive Officer of Ananda Development, said the company sees demand for mass-transit condominiums continuing to grow due to the continuous expansion of the sky train and underground systems.
This, coupled with smaller household sizes, increases the demand for mass-transit condominiums. Furthermore, overall confidence in the economy is increasing and this has led to improved consumer confidence.
Chanond added: “Building on our past success and market leadership, we are proud to launch these four new projects offering Urban Living Solutions to more residents of Bangkok.”
Takeshi Suzuki, Managing Director, Senior Executive Management Officer of Mitsui Fudosan Residential Co., Ltd., the largest property development company in Japan with a market capitalisation of more than THB1 Trillion, said: “We have cooperated to develop real estate projects with Ananda Development since last year and are delighted to reinforce the success of the first project, Ideo Q Chula-Samyan, last year by investing in two further projects, Ashton Asoke and Ideo Q Siam – Ratchatewi.
“We remain confident that the Thai economy has good prospects and the real estate market is still steadily growing. We believe that the combined knowledge and experience of Mitsui and Ananda can create greater success in our joint real estate projects. ”
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
