Thailand is the next country to receive major real estate investments by the Mitsubishi Estate Asia Pte Ltd (MEA), A company that falls under the umbrella company of Mitsubishi Estate Group; Japan’s largest property developer.
This past December MEA injected 2.5 billion baht through joint venture new condo projects with AP. Since then they have already started developing three condo projects in Bangkok, including Rhythm Sukhumvit 36-38 near Thong Lor skytrain station, Rhythm Asoke II near Rama IX subway station and Aspire Ratchada-Wongsawang near the future Wong Sawang station of the Purple Line. Combined, the three projects will be worth 7.5 billion baht. All three should be available for move-in this May.
For a well-rounded investment strategy, MEC will be investing in residential property as well as office building and retail commercial space. The majority of these development projects will be kept within Bangkok; which has been growing and expanding outwards. MEC’s speciality however is space optimization, which is common in Japan but new in Thailand so the gaps in Bangkok’s skyline may be quickly filled.
Factors such as public transportation and more corporations acquiring offices in Bangkok than ever make it evident that the economy is well positioned for growth. MEC is not the only company that sees the potential in Bangkok though. Tourism is one of Thailand’s greatest forms of income. The city was recently ranked as third fastest Euromonitor International’s 100 Top City Destinations Ranking (2013 edition), behind only Hong Kong and Singapore.
