Japan realtor joins Thai project as 1st overseas condo business
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)