PRESS RELEASE

TTA enters into long-term strategic partnership with two leading real estate developers

from Japan to develop a unique luxury condominium project in Thailand

Bangkok, November 3, 2021: Thailand’s leading investment firm, Thoresen Thai Agencies Public Company Limited (TTA) alongside two renowned development and construction conglomerates from Japan; Kanden Realty & Development Company Limited (KRD) and Toray Construction Company Limited (TCC), have entered into a long-term strategic partnership with the establishment of a joint venture, “PMT Property Co., Ltd” to invest in luxury real estate in Thailand sector.

The deal strategically aligns the three companies over the long term by combining TTA’s extensive experience in a set of investments in various assets globally, KRD’s market share in global real estate development and focus and l TCC’s expertise in integrated construction and property activities. Under the agreement, TTA owns the controlling 60% stake in PMT Property, with 30% being acquired by KRD and 10% by TCC respectively.

“TTA continues to identify innovative approaches to partnerships that allow us to stay on top of trends in the real estate industry,” said Mr. Chalermchai Mahagitsiri, President and CEO of TTA & PM Group. “Having acquired one of the last remaining large lots on Sathorn Main Road, we see the potential to add value by developing a new luxury residential concept. Our partnership with KRD and TCC aligns as we share core values, ethics and similar business opportunities of our network of affiliated companies. ”

Under PMT Property Co., Ltd, our flagship project aims to create an important new landmark in Thailand ”, explained Ms. Ausana Mahagitsiri, Deputy Director General of TTA. “Despite a large number of condominium units in Bangkok and the impact of the real estate sector due to the COVID-19 pandemic, Sathorn has been regarded as the business district of the prosperous city of Bangkok and has benefited from a continued interest and demand over the years due to its prime location, location, a wide range of lifestyle choices and convenient accessibility. Together with the affiliate know-how of our partner coupled with our advantage in ththe Thai real estate sector, we are convinced that we will be a successful player in the market. The group is committed to meeting the demands of the post-COVID lifestyle through innovation and design and to creating exceptionally high quality of life and experiences for our target audience. ”

KRD’s impressive record of condominium and housing development in Japan has been achieved with the flagship brand “CIELIA”, where the company has developed approximately 50,000 housing units nationwide. Globally, KRD focuses on residential projects in South East Asia and recently expanded its business to the United States and Australia. “Thailand is the third country where we are developing our condominium and housing business after Vietnam and Indonesia in Southeast Asia,” said Mr. Kenichi Fujino, President of Kandan Realty & Development Company Limited. “As the first embarkation into a joint venture with a local partner, we strive to promote our business by leveraging the know-how

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how we cultivated in Japan. We believe this together; TTA, TCC and KRD can bring new value to the condominium market in Thailand. ”

Mr. Masanobu Kadokawa, President of Toray Construction Company Limited (TCC) revealed, “The reliability of the Toray Group has been cultivated over many years of local business operations in Thailand. At the same time, by leveraging the knowledge, innovation and techniques of TCC developed as part of our condominium business in Japan, we are confident that we can demonstrate the value Since 1972, TCC has delivered a running total of more than 29,000 units nationwide in Japan, where the company operates in both construction and real estate development, leveraging an integrated system that includes a encompassing related to constructionfrom the purchase and planning of land to the management and after saleservices.”

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About TTA

Thoresen Thai Agencies Public Company Limited (TTA), is a Thailand Stock Exchange listed strategic investment holding company (SET) with the vision of achieving growth through a balanced portfolio that is diversified both locally and internationally with a portfolio of activities in maritime transport, offshore services, agrochemicals, food and beverages and other investments.

About the PM Group

PM Group is one of Thailand’s leading private conglomerates with interests in industrials, consumer products, real estate development, golf courses, entertainment, education and investments. Under the leadership of Chairman Mr. Prayudh Mahagitsiri, PM Group manages the activities of various subsidiaries and associated companies with assets valued at over $ 2 billion.

About KRD

Kanden Realty & Development Company Limited (KRD), is a subsidiary and real estate arm of one of Japan’s largest energy companies, Kansai Electric Power Co., Inc., with expertise in development, management and residential and commercial real estate investment companies in Kansai, Tokyo, Sendai and the international market.

About TCC

Toray Construction Company Limited (TCC), is a subsidiary of Toray Industries Inc., established in 1982 in Osaka, Japan; the company designs, builds and supervises construction and civil engineering companies. The Company develops residential and commercial housing and condominiums, as well as real estate and construction rental and advisory services.

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For more information please contact:

Natasa Urcharoenngan email:[email protected]

Phone. : +662 254 8437 ext 332 Mobile: +668 3492 2442

Thanit Tirapanith Email Address:thanit.t @ thoresen.com

Phone. : +66 2254 8437 ext. 393 Mobile: + 669-3-559-6169

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Disclaimer

Thoresen Thai Agencies pcl published this content on 03 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 03 November 2021 05:01:07 AM UTC.


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