Japanese firm Shinwa Group, Pressance Corp, and Thai-based Prebuilt Plc have set up a joint venture firm to develop a condominium project, REN Sukhumvit 39, worth Bt2.6 billion.
The partnership also plans to tap economic zones in Thailand and Asean.
Shinwa Group, through its subsidiary Shinwa Real Estate (Thailand) Co Ltd, holds a 26 per cent stake in the joint venture, Pressance Corp holds 25 per cent, and the balance 49 per cent are controlled by Prebuilt Plc.
The project targets Thais who prefer a city lifestyle. REN Sukhumvit 39 will have a total of 298 units.