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Published on April 8, 2008

Since the establishment of his real-estate business in 2003, 40-year-old Duan, a Taiwanese investor, is gradually building the Fragrant Group's portfolio through a different philosophy of business development.

Duan was born in Burma and left for China to study further when he was 12 years old. He eventually received a bachelor's degree in marketing and a master's degree in business administration.

"After graduating in 1993, I decided to set up my own business in Thailand [in 1994] to sell electrical home appliances imported from Taiwan and South Korea. Three years later, I sold the business amid the economic slowdown," Duan said.

He started a small venture in Indonesia but then eyed Burma as an investment opportunity and decided to set up an industrial park. The project was unsuccessful, due to political circumstances.

"I returned to Bangkok in 2000 and spent two years studying for my master's degree and writing a thesis on the real-estate business," he said.

By 2003, Duan had formed a joint venture with a Taiwanese real-estate company to establish the Fragrant Group, in order to develop residential projects in Bangkok's central business district. The Fragrant Group tasted success with its initial development: The Fragrant 71, a low-rise condominium in Sukhumvit Soi 71.

The second project was The Prime 11, a high-rise condominium in Sukhumvit Soi 11. Presently, the Fragrant Group is developing The Circle condominium project in the Makkasan area. Duan said apart from the high standard of specifications, the company focused on creative design to meet urban lifestyles.

"We lay great emphasis on human touch through the creation of products and ambience. We need to build a relationship between people and nature," Duan said.

He said it was important to care about employees and provide them with challenging and satisfying career opportunities.

"I stress corporate governance. This year, I set a condition that the chief executive will have a four-year term, in order to open a window for talented executives to step in."

Duan said an investor should always understand his responsibilities; otherwise, he will be unsuccessful in business.

"If we do business and only aim for profit, we will not be happy. We should be sincere with customers. I have to compete with myself, not others."

Patcharee Lueng-uthai

The Nation