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Thai-Japan JV gives birth to three condos

Three condominiums in Bangkok are the first fruits of a new team of designers from AP (Thailand) Plc and Mitsubishi Jisho Sekkei, an architectural firm affiliated with Japan's Mitsubishi Estate Group.

The Rhythm Sukhumvit 36-38, located 300 metres from the Skytrain Thong Lo Station, will cater to those who are attracted to the diversities of life in this vibrant neighbourhood.

The Rhythm Asoke II, situated only 400 metres from the Rama IX subway station and only 60 metres from the expressway, will target working people in the Asoke and Ratchadaphisek areas.

The third development, Aspire Ratchada-Wongsawang, a 100-metre walk to the subway's Wongsawang station, will cater to working professionals who prefer a convenient commute to Ratchayothin and central Bangkok.

All three projects worth Bt7.1 billion will be launched in mid-May.

CEO Anuphong Assavabhokin said yesterday that the architecture and interior design all of three projects are unlike its existing condos because its partner gave suggestions on how to design properties to match people's lifestyles and how to manage unit space to be more functional.

"Japanese have more experience in designing space than Thai designers and that was a challenge for us to join and share knowledge with our Japanese partner," he said.

The 51:49 joint venture is operated under an agreement with MEC Thailand Investment, a new company formed by Mitsubishi Estate Asia and Mitsubishi Jisho Residence Co, both wholly owned subsidiaries of Mitsubishi Estate Co.

Mitsubishi Estate, Japan's renowned integrated developer, is headquartered in Tokyo.

Listed on the Tokyo Stock Exchange since 1953, the corporation operates a comprehensive property business encompassing developing and managing large-scale projects in four business lines - residential, office, retail and hotel.


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