Thailand’s AIRA forms a subsidiary to foray into property biz

AIRA’s chief executive officer Nalinee Ngamsettamas.

Thailand-based holding company Aira Capital PCL (AIRA) plans to diversify into the property development business by setting up a subsidiary “Aira Property,” that hopes to enter into joint ventures with property developers during the second half of this year.

AIRA holds the entire stake in Aira Property, which has a registered capital of 200 million baht ($5.9 million).

“We consider property development to have high potential and it is expected to grow in line with a surging demand for accommodation and the economic upturn. Also, this business will create the sustainable income for us in the long term,” said AIRA’s chief executive Nalinee Ngamsettamas. “Over the next two or three years, we will see more foreign companies investing in property in Thailand.”

Aira Property will focus on developing high-rises that will include condominium and office buildings. It plans to generate income through direct sales or by collecting rental fee for short and long-term contracts.

“However, we will not develop the projects alone. We need a partner who has expertise in property development and we have been talking to several companies. The picture of joint venture or cooperation with the partners will get clearer in the second half of this year,” she said.

AIRA has announced that 75 per cent of its capital will be used for the financial business and the remaining 25 per cent for the non-financial business.

Also read:

Thailand’s AIRA to acquire majority stake in Super Rich

Thailand’s AIRA to close two M&A deals in 2015, postpones IPOs

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.