Thai property developer Ananda to finalise JV with Japan’s Mitsui Fudosan in Nov

Visual from the Ananda website

The joint venture projects between Japanese real estate developer Mitsui Fudosan and Thai property developer Ananda Development Pcl (ANAN) are set to be finalised in November, according to ANAN’s chief executive officer Chanond Ruangkritya.

This move follows their joint venture in several condominium projects since 2013. This new joint venture, estimated to be worth around 15 billion baht ($433.5 million), has been on feasibility study since last year.

The joint venture will include the development of five condominium projects located near the skytrain stations in Bangkok, he said.

So far, they have invested in 12 projects together with a combined sales value of 57 billion baht ($1.64 billion). Of that, nine were already launched and the remaining will be introduced to the market in the fourth quarter.

Apart from investing in high-rise building projects, Mitsui Fudosan’s executive managing officer Akihiko Funaoka told Bangkok Post that it was also considering the investments in logistics and warehouse development in Thailand.

“Besides the Thai market, we will tap into the opportunities offered by rapidly growing Asean economies,” he said. “We are also interested in developing a retail business as Thai people love shopping while serviced apartments and residential property for rent are our interest.”

The Japanese firm has set up a new office in Bangkok since March, which is its second office in Southeast Asia after Singapore. The Bangkok office will conduct the local market research and explore any potential business opportunity for the company.

Also read:

Global Brain-Mitsui Fudosan launch $45m fund targeted at Series A investments

Ananda, Mitsui to develop more condos in Bangkok for $575m

Exclusive: Global Brain is a hands-on VC, says Takashi Sano

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.