Japanese developer Shinwa Group plans to expand its investment in the building and construction industry in Thailand soon after the successful launch of its first condominium project, Runesu Thonglor 5, this year in Bangkok.
Tomoyasu Yamabe and Wichai Chula-Olarnkul, co-CEOs of W-Shinwa said that the company also has plans to expand its investment in new projects next year.
They said the company is looking at becoming a distributor of Sigma Beam, an innovative Japanese construction technology to be used in Runesu’s structure. With Sigma Beam, the building’s beam is adjusted from floor to floor, which can increase the usable space by 40 per cent, maximising functionality.
The company will use Thailand as its marketing base and welcomes joint ventures, the co-CEOs said. They added that many Thai and foreign investors had already shown interest in joint ventures.
The company is expected to achieve its target of Bt2 billion in investment each year.
“We have received a great deal of attention to the Runesu Thonglor 5 and the innovative Sigma Beam construction technology. This is the first time that Shinwa Group has invested outside Japan and we chose Thailand as the first country,” Wichai said.
“We are very successful and ready to expand the market for our innovative construction technology. We intend to sell the system or jointly invest with Thai and Asean investors. There are possibilities that foreign investors who are ready to invest with us now will come from the Philippines, Singapore and Hong Kong,’’ Wichai said.
Yamabe said the company had already sold out its condo units since its VVIP Day. The quota for Thai buyers was sold out on that day, while the quota for foreign buyers was purchased by an agent to be marketed separately.
However, those who are still interested in the condo can contact the sales gallery, he said. The company has prepared a plan to administer the condos, with some rooms available for rent. Most of the tenants would be Japanese, and these people are disciplined, peaceful, clean, financially stable and punctual, he said.
Runesu Thonglor 5 is located on a 1-rai plot of land in soi Thonglor 5, Khwang Klong Tan Nuea, Wattana district in Bangkok. The project is a low-rise, with eight-storeys and a total of 156 units.
There are two types, one- and two-bedroom units, sized from 29-75 square metres, with prices starting from Bt240,000 per square metre.
Some construction materials and decorative items used in the project are imported from Japan, including bathroom systems where the floor can be dried very quickly and Mushu-kan tiles that can absorb odours and moisture and protect from dust mites.
In the common area, facilities include a Japanese garden, swimming pool, golf driving range, car-parking system and security system. Construction will start this month, with completion scheduled for the second quarter of 2019. Project sales value is over Bt1.2 billion. The project site will be open soon.