Mitsubishi Estate's Thai unit focusing on new commercial properties
BANGKOK, NNA - Mitsubishi Estate Co.'s new Thai subsidiary has started working toward developing shopping malls, office buildings and other commercial properties in Thailand, in addition to housing projects already being undertaken by a separate local unit.
The major Japanese developer announced Thursday the inauguration a day earlier of Mitsubishi Estate (Thailand) Co., 99.98 percent owned by Mitsubishi Estate Asia Pte. Ltd. and 0.01 percent each by another regional subsidiary and a Mitsubishi Estate Residence Co. arm, all based in Singapore.
"We expect to explore a broad array of business possibilities involving construction projects for office buildings, shopping malls, hotels, logistics facilities, and so on, based on the Mitsubishi Estate group's know-how," said an official of the Tokyo-based company.
The Japanese group has so far undertaken 18 residential development projects adding up to 18,000 houses in Thailand through Premium Residence, a joint venture with AP (Thailand) PLC, a major local real estate developer. (NNA/Kyodo)