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Bangkok Condo – Japanese Partner Boosts Ananda’s Sales

By on Sep 26, 2014 in Property News, Residential

After investing 2.5 billion baht in three joint-venture Bangkok condo projects with SET-listed developer Ananda Development Plc (ANAN), Japan’s largest property developer will inject another 2.5 billion for projects next year.  Designed by A49, the 6.35-billion-baht Ashton Asoke will be located close to Sukhumvit subway station. Its 783 units will start from 30 square metres and be priced from 6.9 million baht. Tomoo Nakamura, executive director of Mitsui Fudosan (Asia) Pte, based in Singapore, said the joint venture with Ananda was a long-term investment due to the market potential of Thailand and Bangkok.

For the plot of nearly three rai for the Ashton Asoke project, Ananda spent 1 million baht per square wah. It negotiated with the Mass Rapid Transit Authority of Thailand to use its car park at Sukhumvit subway station as an entrance.

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