Enhancing core business via partnerships

Real Estate August 06, 2018 01:00

By SOMLUCK SRIMALEE
THE NATION

6,799 Viewed

SANSIRI PLC has so far invested more than Bt2.8 billion in global enterprises and start-ups in the hospitality, co-working, rental management, indoor farming, and wind turbine industeries in support of its residential projects, said president Srettha Thavisin at an interview with The Nation recently.



He added that all the investments were related to its core business of building residential units for sales. 

 For example, the investment in Standard International LLC, which owns The Standard Hotel and One Night app, was prompted by the fact that the company could apply the know-how in hospitality management to the after-sales services at its properties. The app could also be a part of its new business model. 

 The share acquisitions in JustGroup Holding Pte Ltd which manages co-working space and Farmshelf Co Ltd, a designer of indoor spaces, would pave the way to the interior arrangments of its residential projects, especially for co-working space and green design of a condominium.

 Through its subsidiary Siri Ventures, the company acquired a Bt15 million stake in Semtive, a US startup developer of wind turbines that could be set up at its residential properties as a source of renewable energy. 

 We are interested in tapping into the products of innovative companies to boost the value of our projects, Srettha said.  

 Besides collaborations with promising players in their fields, the company also invests in support of their activities. This is a win-win situation as in the case of Semtive. It helped get their products out of the lab while we stand to benefit from the innovation, he said. 

 Jirapat Janjerdsak,chief technology officer of Siri Ventures, said the venture capital company recently hosted a panel discussion with its globally-renowned partners, such as Plug and Play and SOSA, on the latest development of Prop Tech including Block Chain, AR/VR, Big Data, AI and ML as well as Voice Assistant and mobility and Fractional Property Investment. 

 The discussions also dwelled on the challenging task of applying the right strategies for Thai startups to succeed in the global market. Views of the panellists on the different strategies for each startup group would prove to be beneficial to the players in attendance. 

 Siri Ventures’ vision is to strengthen the startup ecosystem in Thailand as well as providing support to Thai Prop Tech startups to achieve global success. And through our partnerships with Plug and Play and SOSA, we are committed to continue our research and development in innovations for a 'better living', adding value to our company while achieving Sansiri’s mission of ‘Complete Your Living Experience’, Jirapat said.