REAL ASSET Group has partnered with Sotetsu Group, a major business group listed on the Tokyo Stock Exchange, to establish a joint venture company called Real Partner Development Co., Ltd.
The partnership aims to enter the urban condominium market, beginning with the first project, THE STAGE Mindscape Ratchada – Huai Khwang.
The project received stronger-than-expected market response, highlighting its superior location only 250 metres from MRT Huai Khwang Station, with prices starting from 2.89 million baht, or approximately the low 100,000 baht per sq.m. range.
Mr. Bodintorn Juangroongruangkit, Chief Executive Officer of REAL ASSET Development Co., Ltd., revealed that after the company achieved success with the launch of its new condominium brand “The Stage” in the Tao Poon area several years earlier, the company was recently approached by Sotetsu Real Estate Co., Ltd.
Sotetsu Real Estate Co., Ltd. is a company under Sotetsu Holdings Co., Ltd., which holds 100% of its shares.
Sotetsu Group is a major business group listed on the First Section of the Tokyo Stock Exchange in Japan.
The companies jointly invested in the establishment of a new company named Real Partner Development Co., Ltd.
This joint venture draws on the expertise of both companies to create added business value and sustainable long-term growth together.
Sotetsu Group is a public company listed on the Tokyo Stock Exchange and has been established for more than 104 years.
It is an integrated service business group that has grown over time through the development of various service businesses, including real estate development along railway routes.
At present, Sotetsu Holdings, listed on the First Section of the Tokyo Stock Exchange, has registered capital of 38.8 billion yen and more than 30 affiliated companies.
Its businesses cover mass transit, merchandising, real estate, and hotels.
According to data as of 31 March 2021, the company had total sales of 221.1 billion yen.
The mass transit business accounted for 30.4 billion yen, or 14% of total sales.
The merchandising business was valued at 102.2 billion yen, or 46% of total sales.
The real estate group was valued at 611 billion yen, or 30.8% of total sales.
Initially, the company will focus on developing residential projects that create differentiation in new project development along existing and future mass transit routes.
These projects will respond to diverse needs and the behavior of the new urban generation, offering new ownership choices that provide convenience in both travel and lifestyle.
“The success factors of this joint venture are the strong brand of REAL ASSET Group combined with the stable financial position and residential project development know-how of Sotetsu Group. These factors will attract confidence from both real-demand buyers and foreign investors in design, project construction, location potential, project facilities, and comprehensive after-sales service that understands consumer lifestyles. This will lead to project development that answers the lifestyle needs of each target group precisely, as well as future joint investment plans,” Mr. Bodintorn said.
THE STAGE Mindscape Ratchada – Huai Khwang
The first joint venture project is THE STAGE Mindscape Ratchada – Huai Khwang.
The project is located on Pracha Rat Bamphen Road, Soi 6, approximately 250 metres from MRT Huai Khwang Station Exit 1.
It can also connect to the BTS at Asok in only 4 stations.
In addition, the project offers access from 3 directions: Ratchadaphisek Road, Lat Phrao Road, and Pradit Manutham Road.
In the future, this area will also have the Yellow Line, Lat Phrao-Samrong, and the Orange Line, Thailand Cultural Centre-Min Buri (Suwinthawong), which was under construction according to the source content.
The Ratchada-Huai Khwang-Rama 9 area is considered a NEW CBD of Bangkok.
It is a hub of many large office buildings and one of the districts where many foreigners live because it is close to the Chinese Embassy and Korean Embassy.
The area is also filled with complete conveniences, including offices and shopping centers such as Unilever, G Tower, Esplanade Ratchada, and Central Grand Rama 9.
The project is designed as an Upper Class condominium with 29 storeys and a total of 477 units.
Unit functions include 1 Bedroom units with usable areas of 26-35 sq.m.
Most rooms are 35 sq.m. and include Multi Function Space to truly support the lifestyle of urban residents.
Large 2 Bedroom units range from 45-60 sq.m. and are designed for family living.
Recently, the project received strong response and achieved sales beyond the planned target.
It emphasizes value with a starting price of only around the low 100,000 baht per sq.m., or starting from 2.89 million baht.
This is considered an accessible price compared with the average price in the area of over 130,000 baht per sq.m.
At the same time, rental returns in this area remain in demand, with total returns of more than 5%.
“To emphasize its position as a leader in modern urban lifestyle, THE STAGE Mindscape Ratchada-Huai Khwang has added a sales channel through Line my Shop. The project is preparing to launch a new room series, New Expanding Terrace, on 15 October 2021, with first booking available at 10.30 a.m. exclusively through this channel,” Mr. Bodintorn said.
Mr. Bodintorn added that Line my Shop is a tool that helps increase the efficiency of product sales on LINE OA, making sales easier and more effective.
It offers many functions, from ordering and payment to status tracking until customers receive their products.
In addition, customers can view the show units online through a 360° Virtual Tour and can also find project information through the REAL ASSET App.
Facilities Designed for New Urban Lifestyles
The project facilities are designed to support the lifestyle of the new generation, especially Gen Millennials who work in offices and work from home.
Therefore, most common areas are open 24 hours, such as Co-Passion Space and Fitness.
There is also a White Ion Bath Onsen, separated for men and women, to refresh and relieve fatigue from work.
The project also includes an Infinity Edge swimming pool with Ozone and Salt Chlorine systems, along with outdoor exercise areas such as Jogging Track, Multiscape, and Playing Court.
Facilities are controlled with IOT systems to help reduce common-area costs.
If there is no usage, the lights operate at only 50%.
At the same time, to support the fast-changing condominium lifestyle of new urban residents, including work patterns, daily life, and personal lifestyles, REAL ASSET expanded its business through a Co-Partner collaboration with Bottomless.
Bottomless is a true coffee specialist with 16 years of experience and has developed into a roastery that imports high-quality coffee beans from around the world.
Together, they opened a café under the name “Mindscape Café by Bottomless.”
REAL ASSET also Co-Partnered with Kochii to launch “Guild @ Mindscape by Kochii,” a gathering place for people with shared interests in Content Creator work and Esports.
The space includes Co-Working areas and studios for production work such as streaming, podcasting, and review stations.
It can also be organized as an e-sports academy.
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