Tag: Assetwise PCL

Assetwise (SET: ASW) Joins TOKYO TATEMONO in 2nd Joint Venture, Targeting Campus Condo Market near Burapha University

  • Venturing Together to Develop the ‘Kave Coco Bang Saen’ Project with a Project Value of over 2,000 Million Baht

Assetwise PCL (SET: ASW), in a continuous effort to strengthen and grow in the real estate market, has teamed up with the leading Japanese real estate giant, TOKYO TATEMONO, to jointly invest in the development of the “Kave Coco Bang Saen” project, valued at over 2,000 million baht, targeting the Campus Condo market near Burapha University and reaffirming their leadership position.

Mr. Kromchet Vipanpong, CEO of Assetwise Public Company Limited (ASW), a leading real estate developer in the lifestyle segment with the concept of “Happiness Designed for You” or “We Build Happiness,” says that ASW is leading the charge to increase strength and grow in the real estate market. Most recently, ASW entered into a joint venture with Tokyo Tatemono Asia Pte. Ltd., subsidiary of Tokyo Tatemono Co.,Ltd Being the leading and the long history real estate company in Japan, to develop the “Kave Coco Bang Saen” condominium project, located near Burapha University, with a project value of over 2,000 million baht. This successful collaboration further solidifies ASW’s leadership in the Campus Condo market, focusing on condominiums located near educational institutions, with ASW holding 51% of the shares and Tokyo Tatemono holding 49%.

“This joint venture marks the second project between our company and Tokyo Tatemono, working together to create residential solutions that cater to the lifestyle of the new generation. It reaffirms the confidence Tokyo Tatemono has in our company as a leader in the Campus Condo market and the lifestyle-oriented real estate market in Thailand. Tokyo Tatemono, a reputable and well-established Japanese listed on the Japanese stock exchange, has a diverse portfolio of real estate developments, including residential and commercial properties, such as hotels, golf courses, and office buildings. They are known for their attention to detail and commitment to developing high-quality projects. In 2022, Tokyo Tatemono’s revenue reached up to 86,000 million baht, with registered capital of 24,000 million baht,” states Mr. Kromchet.

As for the “Kave Coco Bang Saen” project, it consists of an 8-story condominium comprising 4 buildings with 974 units ranging from 23 to 34.50 square meters each, situated on over 8 rai of land near Burapha University. The project is surrounded by a vibrant community of students and working professionals. Starting at 1.59 million baht a unit, the project’s total value amounts to 2,000 million baht. This condominium features a distinctive, modern, and unique design that combines fun and flexibility, catering to diverse preferences and lifestyles of the new generation. It stands out with its spacious and contemporary common areas, offering various trendy amenities to support the creative endeavors of young individuals endlessly. These amenities include a Music Studio, Meeting Chamber, Learning Hub, Fit Studio, and Kave Theater, which have been well-received in previous Kave brand projects. Prior to this collaboration, ASW and Tokyo Tatemono jointly invested in the “Atmoz Oasis Onnut” project, comprising 1,110 units with a project value of 2,200 million baht.

The CEO of ASW, in discussing the real estate market in Chonburi province, highlighted its remarkable and continuous growth. Chonburi is one of the areas in the Eastern Economic Corridor (EEC), which has seen significant infrastructure development, including projects like the Motorway (Pattaya-Map Ta Phut), High-Speed Rail (Bangkok-Rayong), Laem Chabang Phase 3 Deep Seaport, and the High-Speed Rail Linking 3 Airports (U-Tapao-Suvarnabhumi-Don Mueang). The High-Speed Rail project will connect Don Mueang Airport, Suvarnabhumi Airport, and U-Tapao Airport, covering a distance of over 220 kilometers, and will utilize an area in Sri Racha district, Chonburi, spanning over 25 rai as one of its stations.

Chonburi province also has plans to become a hub for digital innovation and industry promotion, developing digital talents. There are also plans to establish a comprehensive medical innovation center to support advanced medical research and innovation. Additionally, Chonburi aims to be a significant tourist destination, attracting both local residents and working professionals, as well as foreign executives, second-home buyers, and investors looking for rental properties. This development will positively impact the real estate market in the province, with an estimated 8.4% average increase in new residential addresses entering the market and a 5.6% average increase in new sales per year during 2023-2025.

The focus on the “Bang Saen” area, which is home to the renowned Burapha University, is also noteworthy. Burapha University is part of the special economic promotion project for genomics medicine, supporting comprehensive medical and healthcare businesses, including an operating center at the university’s Faculty of Pharmaceutical Sciences with an area of over 3 rai and an investment budget of 1,250 million baht. The plan is to establish a center for DNA testing and data storage for genomics in Thailand, promoting advanced medical research and elevating Thailand’s healthcare to a leading global level.

Furthermore, Bang Saen is a popular seaside tourist destination that never sleeps, attracting tourists as well as being a gathering place for the lifestyle of the new generation, including the more than 25,000 students from Burapha University, residents, workers, and tourists. This has created a demand for condominium-type residential properties, both from students seeking long-term accommodations for their studies and some students’ parents who buy properties for their children to live in during their studies and later sell or rent out for a good return on investment. Additionally, the area attracts investors, workers in the surrounding large industrial estates, and tourists who enjoy the lifestyle in Bang Saen.

Mr.Tajima, Managing Executive Officer and Director of the Overseas Business Division at Tokyo Tatemono Co., Ltd., states that the company recognizes the potential of the “Kave Coco Bang Saen” project, which is located in an area with high purchasing power within the Eastern Economic Corridor (EEC). All projects under the Kave brand of ASW have received significant positive feedback from customers, including both residential buyers and investors seeking rental properties for good returns. The company is confident that the Kave Coco Bang Saen project will also be highly successful.

“We have confidence in ASW, a real estate development company with a broad vision, dedicated to elevating the quality of living and adding value in the future. We have seen success with over 50 quality real estate projects, as well as the commitment to expand growth in various markets. This joint venture will lead to another quality project and further strengthen our growth together,” Mr. Tajima says.

ASW conducts real estate development focusing on high-rise and low-rise residential projects in high-potential locations. Their projects are designed with the concept of “Happiness Designed for You” or “We Build Happiness,” and they have developed over 50 condominium and housing projects under various brands within the group, catering to diverse lifestyles. These brands include Kave, Atmoz, Modiz, Esta, and The Honor, with a total project value of over 55,300 million baht. The projects consist of 37 completed and ready-to-move-in projects, as well as 13 projects currently under development and for sale. The current backlog stands at over 12,500 million baht in sales revenue.

Distributed by the Public Relations Department of MT Multimedia Co., Ltd. (on behalf of ASW PCL).
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Assetwise PCL: https://assetwise.co.th/ [SET: ASW]

AssetWise PCL (SET: ASW) strengthens ties with Takara Leben, launches B1.35bn development in Atmoz Flow Minburi

Thailand’s leading life-style real estate developer AssetWise PCL (ASW) has strengthened its partnership with Japanese real estate giant Takara Leben to launch a BHT 1.35 billion condominium in Bangkok’s Minburi neighbourhood. Atmoz Flow Minburi represents the third joint venture project in a two-year time frame between the two companies in a move that serves to underscore the viability they see in the ideally located development.

Atmoz Flow Minburi is situated near the Pink Line MRT mass transit system and is easily accessible by the Minburi Market Station. It forms the first phase of the ASW’s WISEPARK community development that caters to life-styles of all generations and at same time reflects the company’s ‘We Build Happiness’ philosophy. Atmoz Flow Minburi is expected to be up and running in the fourth quarter of this year and starting to recognise revenue by then.

According to ASW Chief Executive Officer Kromchet Vipanpong, ASW holds a 51% share in Atmoz Flow Minburi venture with Takara Leben taking a 49% share. It follows on the heels of two earlier condominium projects collaborations between the Thai and Japanese firms – Atmoz Tropicana Bangna and Kave Seed Kaset Campus near Kasetsart University.

Takara Leben’s extended partnership with ASW this time around speaks volumes about their confidence in ASW and the potential of the Atmoz Flow Minburi on the location which is poised to become a new central business district with a centre of employment in the eastern Bangkok area.”The three ASW-Takara Leben joint venture projects are worth more than five billion baht and both sides are likely to take their partnership into future projects,” Kromchet said.

Atmoz Flow Minburi consists of 8-storey, 3 buildings with 739 units in total and is only 300 metres away from the Min Buri Market Station of the Pink Line MRT which is expected to be officially operational within this year.

Atmoz Flow Minburi comes with a complete common facility to meet the life-styles of residents of all generations for living together perfectly. It is the first project that embraces the ‘All Gen’ concept of room design that answers to the living needs of all ages. In addition, Atmoz Flow Minburi is also the first phase of WISEPARK’s development on a large plot of land that will evolve into a larger community.

Kazuichi Shimada, CEO of Takara Leben, said the company is looking for joint venture opportunities in real estate developments in Thailand, stemming from the experience of being a partner with ASW. “We have strong confidence in ASW whose management has committed to running good business while sharing the same business philosophy as ours, meaning adopting the design for living happily.”

Furthermore, the location of Atmoz Flow Minburi close to the Pink Line, and being surrounded by sources of employment and facilities such as industrial estates and hospitals constitute compelling reasons for Takara Leben to partner with ASW again.

Takara Leben (3492.T) is listed on the Japanese Stock Exchange and has engaged in more than 500 property development projects under the brands of The Leben, Nebel and Leben Platz. The company also has power plant and hotel businesses in Japan and expands investment in real estate to the ASEAN region such as Thailand and Vietnam.

ASW has developed more than 47 condominium and housing projects with all-encompassing life-styles under the brands of KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR worth over BHT 49.9 billion with value of backlog stands at more than BHT 11.4 billion.

Visit https://assetwise.co.th [SET: ASW][SET: ASW/F][SET: ASW-R].

Released for AssetWise PCL by MT Multimedia Co Ltd
Pipop Kongwong (Top), T: +66 (0) 81 929 8864, E: pipop.k@mtmultimedia.com

AssetWise PCL (SET: ASW) continues partnership with Japan property giant Takara Leben

AssetWise PCL (SET: ASW), a leading real estate developer for lifestyle with the ‘We Build Happiness’ concept, announced its continued partnership with Japanese real estate giant Takara Leben to co-develop Kave Seed Kaset, a new campus condominium project valued at 1.35 billion baht on a high potential location along the commuter train route near Kasetsart University.

This development is testament to the confidence in the capabilities of AssetWise and in the project, combining Takata Lebun’s credentials and expertise in the development of real estate projects with ASW’s strength in meeting lifestyle needs through the creation of projects that fulfill the housing demand of Gen Z while providing good returns for investors.

Mr. Kromchet Vipanpong, Chief Executive Officer of AssetWise PCL, said that the Company continues to expand its business. The latest development being a joint venture agreement with Takara Leben, one of Japan’s leading real estate developers coinvesting in the new condominium project, with AssetWise holding a 51 percent share and Takara Leben holding the remaining 49 percent to develop the Kave Seed Kaset campus condominium.

This project is a 600-unit condominium classified into 1-2-bedroom units with usable spaces of 22 to 47 square meters and starting prices of 1.89 million baht. The 1.35-billion-baht development is located in Soi Phaholyothin 34 near Kasetsart University, strikingly designed, modern and distinctive. ASW brings its experience as a lifestyle leader to the project, with more than 30 features in an expansive common area, meeting the demands of both students and office workers. This blends with Takara Leben’s experience in project development to ensure the Kave Seed Kaset condominium completely meets the lifestyle needs of the new generation.

This joint venture with Takara Leben is their second co-developed condominium project after having jointly invested in a development in the Bangna area, pushing their co-developed projects to over 3,550 million baht. Notably, the KAVE brand campus condominiums have performed well due to clear market positioning aimed at Gen Z that perfectly matches the market demand, resulting in a strong response from members of the new generation and real estate investors.

“This joint venture with Takara Leben reinforces our partner’s confidence in ASW’s potential as the nation’s leading lifestyle-focused property developer, along with our similar outlook regarding project development with the focus on creating happiness for our residents, as well as the Company’s vision on business operations, that contains both expertise and understanding of market demand. The investment also reflects the strength of the KAVE brand, and its high potential. The Kave Seed Kaset project is located in an ideal location, and it is expected to generate good yield for real estate investors. Currently, sales for over 40 percent of the project value have been completed” Mr. Kromchet said.

Mr. Hiroshi Iwamoto, Director of Takara Leben Company Limited, explained Takara Leben was listed on the Japanese Stock Exchange (3492.T), and has a total revenue of 162,740 million yen, or approximately 41,631 million baht (as of March 2022). It has extensive experience in real estate development with over 500 projects under the brands Leben, The Leben, Nebel and Leben Platz. Moreover, the Company also has a power plant business and hotels in Japan. Currently, Takara Leben is expanding its real estate investment into the ASEAN region such as Thailand, Vietnam, etc.

“We recognize that the real estate business trend in Thailand has a great potential for growth, especially the condominium projects along commuter train lines and near educational institutions. With that in mind, the Company has decided to jointly invest with ASW to develop this second condominium project, to build on the success of our first jointly developed project in the Bangna area. We see ASW as a modern property developer that is determined to improve the quality of living to meet every lifestyle needs for every generation, which is in line with our vision,” said Mr. Iwamoto.

In this regard, ASW operates a real estate development business by focusing on the development of high-rise and horizontal housing projects in high potential locations under the “We Build Happiness” Concept. Currently, more than 45 condominiums and housing projects have been developed by group brands, all designed to create happiness and to suit every lifestyle. These brands include KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR. All the projects are valued at a total of more than 48,050 million baht, comprising 33 completed and ready-to-move-in projects, and 12 projects that are open for sale and under development. As of today, backlog awaiting realization of revenue has a total value of more than 9,218 million baht.

Visit https://assetwise.co.th, [SET: ASW][SET: ASW/F][SET: ASW-R].

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Khun Pipop “Top”, T: +66 (0) 81 929 8864, E: pipop.k@mtmultimedia.com

Assetwise PCL (SET: ASW) partners with Tokyo Tatemono, Japan’s oldest developer

  • To develop the Atmoz Oasis Onnut project, worth over THB 2,200 million
  • Synergy in condo development, to lift quality of life to luxury resort style

Assetwise PCL (SET: ASW), a leading real estate developer for lifestyle with the ‘We Build Happiness’ concept, has formed an alliance with Tokyo Tatemono, the oldest real estate developer in Japan with a 126-year history, to jointly develop the Atmoz Oasis Onnut condominium project, worth THB 2,200 million. A synergistic weaving of the partners’ long-accumulated know-hows and experience in real estate development, the plan will bring value to the project, upscaling the quality of life with “luxury resort” style, while catering to the needs of both foreign and Thai customers.

Assetwise (SET: ASW) and Tokyo Tatemono (TSE: 8804) launch their Joint Venture to develop the Atmoz Oasis Onnut condominium project at a signing ceremony in Bangkok. [Image: Assetwise]

Mr. Kromchet Vipanpong, CEO of Assetwise PCL, announced the expansion plan and partneriship with Tokyo Tatemono Co. Ltd, a TSE-listed developer, at the signing ceremony. ASW holds 51% and Tokyo Tatemono holds 49% in the joint venture (JV) to develop the Atmoz Oasis Onnut condominium project, with the concept “The Oasis Within City Resort Lost in the Garden”. Residences nestled in nature reflect this concept within the Onnut community, where the project will have 1,110 units worth THB 2,200 million.

A major Japanese developer with a storied history, Tokyo Tatemono has developed many types of real estate that capture the needs of the time, with the spirit of the pioneer. The Atmoz Oasis Onnut project is comparable to a large oasis covering three rai of land to create residences in a luxury resort style. The collaboration between ASW and Tokyo Tatemono invites synergy between Tokyo Tatemono’s extensive experience and ASW’s unique design to uplift the quality of life, which adds real value for residents.

Tokyo Tatemono (TSE: 8804) is a TSE-listed real estate developer with total assets at the end of 2021 of JPY1,650 billion, or approx. THB438 billion. The company develops residential and commercial properties at many popular locations in Japan. This joint venture is a manifestation of trust between the two partners.

“This is an important step for both companies in jointly developing a real estate project in Thailand that will raise the quality of living for Thai people as well as extend a welcome mat to foreign residents,” said Mr Kromchet.

“The fact that Tokyo Tatemono collaborates with our company demonstrates our potential as a leading developer with creative products to meet the needs of the new generation’s lifestyle. We have extensive development experience of both vertical and horizontal properties in all segments. Our outstanding facility designs are created to satisfy residents’ lifestyles. ASW is confident that our new investment will bring knowhows from our partner to build a foundation in real estate development for a sustainable growth.”

Mr Fumio Tajima, Managing Officer and Head of the Overseas Business Division, Tokyo Tatemono Co., Ltd., said “The real estate business in Thailand shows immense potential and room to grow, particularly public transit development projects, due to city expansion such as electric trains and expressways. Through joint ventures with reliable partners, the company is determined to develop properties that will contribute to raising the standard of living for residents and help to make the region more attractive and valuable, as we have experienced in Japan.”

Assetwise, Mr Tajima adds, “Is a real estate company managed by a new generation of developers who have broad vision and run the business towards steady growth. The proof of this success is its more than 44 quality projects. For its part, Tokyo Tatemono will bring its business model under its corporate philosophy “Trust beyond the era” into the collaboration to synergize with ASW’s “We Build Happiness” concept to create opportunities and growth together.”

In operating its real estate business, ASW aims to develop both vertical and horizontal projects in high-potential locations under the “We Build Happiness” concept. Currently, the company has completed development of 44 condominium and housing estate projects under brands that are created to bring happiness appropriate to all lifestyles, including KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR brands, with a total investment of THB46,700 million. The overall development covers 32 completed and ready-for-occupancy projects as well as 12 others under development and open for sales. Its current backlog is valued at THB9,218 million and revenues are to be recognized on a continuous basis.

Assetwise PCL [SET: ASW]
Website: https://investor.assetwise.co.th/en
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Pipop (Top), T: +66 81 929 8864; E: pipop.k@mtmultimedia.com

Tokyo Tatemono Co Ltd [TSE: 8804]
Website: https://www.tatemono.com/english/