Japan realtor joins Thai project as 1st overseas condo business

06, Aug. 2019

Takatoshi Ito (L), president of Japanese realtor Es-Con Japan Ltd., and Peerapong Jaroon-ek, CEO of Thai developer Origin Property Public Co., pose for a signing ceremony on Aug. 2, 2019. The two companies will develop a luxury condominium in the suburb of Bangkok, with construction scheduled to be completed by April 2021. (Photo courtesy of Origin)
Takatoshi Ito (L), president of Japanese realtor Es-Con Japan Ltd., and Peerapong Jaroon-ek, CEO of Thai developer Origin Property Public Co., pose for a signing ceremony on Aug. 2, 2019. The two companies will develop a luxury condominium in the suburb of Bangkok, with construction scheduled to be completed by April 2021. (Photo courtesy of Origin)

BANGKOK, Aug. 5 Kyodo - Japanese realtor Es-Con Japan Ltd. has joined a luxury condominium project in Thailand, marking its first foray into the overseas housing business amid growing housing demand in and around Bangkok.

Es-Con, through its Thai subsidiary established in July, is taking part in a 1.3 billion baht ($42 million) project by Thai developer Origin Property Public Co., said a statement released Friday.

Under the project, a 36-story condominium will be built in a thriving area in Samut Prakan province, a western suburb of Bangkok, by April 2021, housing 474 residential units and one shop, according to the Japanese company. The area is close to a planned station of the metropolitan railway, surrounded by schools and shopping centers.

The Tokyo-based developer found the residential market in the greater Bangkok area promising among other areas with its population and middle-class income rising, the statement said. (NNA/Kyodo)