LISTED property firm Property Perfect Plc has set up a joint venture with Japan-based Sekisui Chemical to develop a single-detached house project worth Bt2.23 billion, the company's chief executive officer Chainid Adhyanasakul said yesterday.
Chainid said Property Perfect holds 51 per cent of the joint venture company, PF-Sekisui JV Co Ltd, with the remainder held by Sekisui Chemical. It has registered capital of Bt200 million.
The company will develop modular homes for the new phases of Perfect Masterpieces, starting in four locations: Krungthep Kreetha, Ramkhamhaeng, Chaeng Wattana and Rattanathibet. Some 74 units will be built with a combined value of Bt2.23 billion, targeting high-end customers with an enthusiasm for technology and innovation.
"The company has continually forged partnerships with foreign partners as one of our strategies in elevating our standards and brand image to the international level,” Chainid said at a press conference.
“Sekisui Chemical is part of this strategy. Sekisui's modular homes are an innovation directly imported from Japan, and are recognised for their advanced construction technology. Modular homes represent quality even in the construction stage.
“We're confident that we can strengthen our business with modular homes, to offer an alternative to our customers. In this respect, we have maintained our goal to become the leader in the top-end housing segment in the next three years, with the market share in the segment set to grow to Bt4 billion per annum from Bt2 billion. Our partnership with Sekisui will quicken our development progress and raise our share in the premium segment.”
Sekisui Chemical Co Ltd president Shunichi Sekiguchi said the partnership unites both companies' strengths and creates a new business synergy. Property Perfect stands out in terms of land selection, the pleasant environment of its housing projects and its marketing expertise when dealing with Thai customers, Sekiguchi said.
He said Sekisui's strengths lie in its high-quality products and modular home construction expertise both in Japan and Thailand, supported by a factory capable of handling various designs. Sekisui can now take part in developing quality housing projects with a pleasant environment for customers in Thailand, from the designing to production, delivery and after-sale services, he said.
Sekiguchi said that Sekisui's modular homes in Japan highlight quality and simple designs. These qualities will be replicated at Property Perfect's projects, with some modifications to better meet Thais' lifestyles. The modular technology will be applied for the sections requiring high efficiency, while the conventional structure will be maintained, he said.
Sekiguchi said that the Sekisui homes, comfortable and environmentally friendly, are the result of “a perfect combination of Japan and Thailand's construction technologies”, as well as the application of technologies “like a precisely controlled steel structure, precise and thoroughly monitored assembly, an air factory system for quality indoor air, high heat insulation through an air-tightness system, on top of high-quality and durable materials”.
Sekisui Chemical Co Ltd is the third foreign company to set up a joint venture with Property Perfect.
Last year, Property Perfect established a joint venture firm with Japan’s Sumitomo Forestry to develop condominium projects in Bangkok, with properties now in the construction stage. The company also set up a joint venture firm with Hong Kong-based Hongkong Land to develop a residential project in Bangkok worth Bt4 billion.
“We will set up more joint venture firms with different partners as part of our aim to boost our business expansion in line with our business plan,” Chainid said.
“We are also learning more about the business from our partners, including in areas such as construction technology and systems, and financial support.”