National Deal. Shinwa Group Prebuilt - Pressance Join Forces in Joint Venture Development of REN Sukhumvit 39, Full-Function Condominium in Phromphong area, with RUNESU System at All Units.

Real Estate Press Releases Monday June 11, 2018 14:09
Bangkok--11 Jun--oasis

The joint venture phenomenon of 3 Thai-Japanese giant firms occurs among "Shinwa Group"—a large developer owing the Runesu innovation; "Prebuilt"—a specialized contractor of many high-rise buildings in Thailand; and "Pressance Corp."—a Japanese large developer building the second highest number of units in Japan. They join forces in development of REN Sukhumvit 39, a luxury condominium in the heart of the Sukhumvit area with Runesu system at all units. The project worth 2.6 Billion Baht targets at residents who prefer functional units and investors in Thailand and overseas who are interested in quality condominium in a potential location that aims to fill a gap with residential quality in Thailand. The partnership also plans to tap economic zones in Thailand and ASEAN.

Mr. Tomoyasu Yamabe, Managing Director, and Mr. Wichai Chula-Olarnkun, Executive Director of Shinwa Real Estate (Thailand) Co., Ltd., the owner of Runesu innovation, disclose that the company achieves an agreement in a big joint venture among 3 parties which comprise Prebuilt Public Company Limited, a SET-listed experienced and specialized contractor of large-scale condominiums and other buildings owned by government agencies nationwide, together with 2 large developers from Japan including Shinwa Group, the owner of Runesu innovation; and Pressence Corporation., a developer that built the second highest number of units in Japan, in a ratio of 49:26:25 respectively. They will co-invest in development of REN Sukhumvit 39, a luxury condominium with full functions, being located on Sukhumvit Soi 39 or Soi Phrom Mit worth 2.6 Billion Baht. It will be the first time that all units at a condominium project will be built with "Runesu" innovation—the sigma beam with beam adjusted to be floor and floor to be beam—and space function being maximized. The project will receive a good feedback from target groups including Thais who prefer city lifestyle, Investors who are interested in quality project in a potential location worth an investment, and Japanese tenants who look for a residential unit that meets their lifestyle and needs in a location, so-called Little Ginza.

"The joint venture among the 3 Thai and Japanese giant firms will be a phenomenon in property sector. They aim to collaborate each of their own strengths to develop a condominium for resident's quality of life. Prebuilt is a specialized and experienced contractor of many condominiums and buildings in Thailand. Shinwa Group is a large business group with headquarters in Osaka, Japan which was founded over 128 years ago and accepted as one of Japan's leading developers. Meanwhile, Pressance Corporation. is a developer that built the highest number of units in Kansai and the second highest in Japan. This is a perfect partnership when cutting-edge construction technology mixes with specialized construction team and strong marketing management. We are confident that REN Sukhumvit 39, a luxury condominium in the heart of Sukhumvit area, will be definitely successful," Mr. Wichai Chula-Olarnkun says.

Mr. Wirot Charoentra, Managing Director of Prebuilt Public Company Limited, says, "Prebuilt is very delighted with this joint venture as Shinwa Group is a large developer in Japan with a high construction standard and a good history of business, receiving a good acceptance. For Prebuilt, we are specialized in construction of large-scale condominium projects and renowned in Thailand while Pressance Corporation. has a good record from sales. When these 3 parties join forces and collaborate all of their experiences and know-hows, we are confident that this partnership will build a quality residence for Thai people ultimately," Mr. Wirot Charoentra says.

Mr. Wichai Chula-Olarnkun, Executive Director of Shinwa Real Estate (Thailand) Co., Ltd., discloses about the company's 2018-19 business policy that, "In addition to REN Sukhumvit 39, the company this year plans to continue development of residential projects in all categories including condominium, serviced apartment, single detached house and etc. as well as to expand "Runesu" innovation into major provinces in the country and others in the ASEAN region where there are rooms for us to fill the gap with quality products."

REN Sukhumvit 39 is a luxury condominium, being located on a land plot sized 2-2-88 rai on Sukhumvit Soi 39 (Soi Phrom Mit). It will be two seven-storey buildings with a total of 298 units worth around 2.6 Billion Baht which will be the first time in Thailand for a construction of "Runesu" innovation at all units in the project. There are 2 types including 1 and 2 bedrooms with Runesu system. Unit sizes will be from 30(+12) – 66(+18) square meter with full functions in every square inch in an affordable price, definitely worth a residence and an investment. It will be officially launched soon.

About Shinwa Real Estate (Thailand) Co., Ltd. A subsidiary of Shinwa Group, a large corporation with headquarters in Osaka, Japan. Established for over 128 years ago, the group develops property projects in various categories. It is very specialized in condominium management with more than 5,000 units under its management at present. The group has expanded an investment in Thailand since 2016 through a joint venture with a Thai developer to develop "Runesu Thonglor 5," a low-rise condominium project with eight storeys and a total of 156 units worth around 1.2 Billion Baht. The project and its function was designed to have a truly Japanese residence and lifestyle. Construction will be completed in the second quarter of 2019. REN Sukhumvit 39 is the company's second joint venture project in Thailand.

About Prebuilt Public Company Limited. SET-listed contractor, experienced and specialized in construction of condominiums and other buildings in Thailand. In addition to construction job, the company has an open policy to expand an investment both through its own development and joint venture with others.

About Pressance Corporation. A giant developer in Japan building the highest number of units in Kansai and the second highest in Japan. Founded 21 years ago, the company is a long, good partner with Shinwa Group consecutively. This will be the first time it partners with Shinwa Group in overseas.


Latest Press Release

30 YEARS OF THE BANGKOK OFFICE MARKET

30 years ago, when CBRE established an office in Bangkok, the total office supply was less than one million square metres and the rents were THB 250 per square metre per month. There were no grade A office buildings and the best quality developments were...

The 22nd China (Guzhen) International Lighting Fair (Autumn): Seven Attractions for Global Buyers

China Lighting Capital -- Guzhen town is the original source of lightings, which occupies 70%+ of the domestic lighting market share. As the best-known business card of Guzhen, China (Guzhen) International Lighting Fair (GILF hereafter) has been held...

Unprecedented Collaboration among Saint Gobain Group to support BCI Asia Awards 2018

Thai Gypsum Products Public Company Limited, the first gypsum manufacturer in Thailand and innovator of the leading brand "Gyproc", continues to emphasize leadership in interior drywall and ceiling systems among the real estate, design and construction...

Mercatus Co-operative Limited Selects Yardi Voyager

Singapore commercial real estate owner and manager aims to streamline its operations through a single integrated software platform Mercatus Co-operative Limited will adopt Yardi Voyager(R) as its new property management and accounting platform to manage...

Tri Propertys Arna #Development to deploy innovative residential concepts, kicking off with Space Condominium

Following series of success with six condominium projects worth over Bt3 billion in Bangkok and Phuket, Tri Property is ready to spread its wing to penetrate new business territory via "Arna Development" to develop new residential concepts covering...

Related Topics