BANGKOK, NNA - Japan's Sekisui Chemical Co. has teamed up with a Thai real estate developer to launch a smart housing project in suburban Bangkok in a bid to capitalize on demand for high-end residences.
On Nov. 18, Siamese Asset Co. will start selling 107 detached houses equipped with various technologies such as air purification systems, thermal and sound insulation and solar power generators backed by Sekisui Chemical's expertise.
The smart housing estate under the "Siamese KIN" brand is selling properties of four sizes ranging from 145 square meters to 350 square meters with prices starting at 6.5 million baht ($195,600).
Katsumi Honma, head of Sekisui Chemical's international business promotion department, says the company has spent one year constructing the 1 billion baht joint project and devising local smart home innovations and marketing strategies for Thai customers.
Siamese Asset Managing Director Kajornsit Singsansern says his company has mainly targeted middle-class householders for the affordable smart house development but generally serves high-income residents in the Southeast Asian country.
Sekisui Chemical began housing business operations in Thailand in 2009 through a joint venture with Siam Cement Public Co., a local industrial conglomerate, and has annually developed about 300 detached houses for wealthy households.
The Japanese firm is looking to forge a deeper alliance or establish a joint venture with Siamese Asset, a property business arm of the local conglomerate, after evaluating progress in the smart housing project. (NNA/Kyodo)