Assetwise Public Company Limited (SET: ASW) has formed an alliance with a major Japanese company, Tokyo Tatemono, the oldest real estate developer from Japan with a 126-year history to jointly develop the Atmoz Oasis Onnut condominium project worth THB 2,200 million. A synergistic weaving of the partners’ long-accumulated knowhows and experience in real estate development, the plan will add value to the project, upgrading the quality of life with a “luxury resort” style while catering to all the needs of both foreign and Thai customers.
Mr. Kromchet Vipanpong, Chief Executive Officer, Assetwise Public Company Limited (ASW), a leading real estate developer for a lifestyle under the concept “We Build Happiness”, announces that the company is launching a major expansion plan by partnering with Tokyo Tatemono Company Limited, a leading Tokyo Stock Exchange-listed developer. ASW holds 51% of shares and Tokyo Tatemono holds 49% in the joint venture to develop the “Atmoz Oasis Onnut” condominium project under the concept “The Oasis Within City Resort Lost in the Garden”. Reflecting residences nestled in nature in the midst of Onnut community, the project will have 1,110 units worth THB 2,200 million.
A Japan’s major developer, Tokyo Tatemono has engaged in developing various types of real estates that capture the needs of the time in its longest history with the spirit of the pioneer. The Atmoz Oasis Onnut project have a facility that is comparable to a large oasis covering three rai of land to create residences in a luxury resort style. A collaboration between ASW and Tokyo Tatemono, the Atmoz Oasis Onnut is a synergy between Tokyo Tatemono’s extensive experience and ASW’s unique design to uplift the quality of life that adds true value for residents.
Meanwhile, Tokyo Tatemono is a stock exchange-listed real estate developer with total assets at the end of 2021 worth JPY1,650,770 million or approx. THB438,291 million. The company develops a lot of residential and commercial properties on multiple locations with great potential in Japan. This joint venture is a manifestation of trust between the two partners.
“This is an important step for both companies in jointly developing a real estate project in Thailand that will raise the quality of living for Thai people as well as extend a welcome mat to foreign residents,” says Mr. Kromchet.
“The fact that Tokyo Tatemono collaborates with our company demonstrates our potential as a leading developer with creative products to meet the needs of the new generation’s lifestyle. We have extensive development experience of both vertical and horizontal properties in all segments. Our outstanding facility designs are created to satisfy residents’ lifestyles. ASW is confident that our new investment will bring knowhows from our partner to build a foundation in real estate development for a sustainable growth.”
Mr. Fumio Tajima, Managing Officer and Head of the Overseas Business Division, Tokyo Tatemono Co., Ltd., says that the real estate business in Thailand has great potential and a lot of room to grow, particularly public transit development projects due to the city expansion such as electric trains and expressways. Through joint ventures with reliable partners, the company is determined to develop properties that will contribute to raising the standard of living for residents and help to make the region more attractive and valuable, as we have experienced in Japan.
Assetwise, he adds, is a real estate company managed by a new generation of developers who have broad vision and run the business toward a steady growth. The proof of this success is its more than 44 quality projects. On its part, Tokyo Tatemono will bring its business model under its corporate philosophy “Trust beyond the era” into the collaboration to synergize with ASW’s “We Build Happiness” concept to create opportunities and growth together.
In operating its real estate business, ASW aims to develop both vertical and horizontal projects on high-potential locations under the “We Build Happiness” concept. Currently, the company has completed development of 44 condominium and housing estate projects under its brands that are created to bring happiness appropriate to all lifestyles, include KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR brands, with a total investment of THB46,700 million. The overall development covers 32 completed and ready-for-occupancy projects as well as 12 others under development and open for sales. Its current backlog is valued at THB9,218 million and revenues are to be recognized on a continuous basis.