Assetwise Plc (ASW), Thailand's leading lifestyle real estate developer, has strengthened its partnership with Japanese real estate giant Takara Leben to launch a 1.35-billion-baht condominium in Bangkok's Minburi district.
Atmoz Flow Minburi condominium is the third joint venture project established by the two companies within the last two years.
The project consists of three 8-storey buildings with 739 units in total. It is located 300 metres away from the MRT Pink Line's Min Buri Market station, which is expected to become fully operational within this year.
Kromchet Vipanpong, ASW's chief executive, said ASW holds a 51% share in the Atmoz Flow Minburi venture, while Takara Leben has a 49% share.
The project follows two other condominium project collaborations between the two firms -- Atmoz Tropicana Bangna and Kave Seed Kaset Campus.
The three ASW-Takara Leben joint venture projects combined are valued at over 5 billion baht, with future projects in the pipeline, said Mr Kromchet.
Kazuichi Shimada, chief executive of Takara Leben, said the firm is looking for joint venture opportunities in real estate developments in Thailand, stemming from its experience of being a partner with ASW.
"We have strong confidence in ASW whose management has committed to running a good business while sharing the same business philosophy as ours, meaning adopting 'design for living happily'," he said.
Takara Leben is confident in the the potential of the Atmoz Flow Minburi in terms of its location, which is poised to become a new central business district and a centre for employment in eastern Bangkok.
Takara Leben is listed on the Tokyo Stock Exchange and has engaged in over 500 property development projects under The Leben, Nebel and Leben Platz brands.
ASW has developed more than 47 condominium and housing projects under the Kave, Atmoz, Modiz, Esta, and The Honor brands, worth over 49.9 billion baht with a backlog value of over 11.4 billion baht.
