4th series residential project in bangkok, thailand …...no. of and completion project area...
TRANSCRIPT
To members of the press
September 25, 2018
Nomura Real Estate Development Co., Ltd.
Nomura Real Estate Development Co., Ltd. (head office: Shinjuku Ward, Tokyo; President and
Representative Director: Seiichi Miyajima; hereinafter “Nomura”) announces regarding the PARK
Origin Thonglor condominium housing project in Bangkok, Thailand, in which Nomura decided to
participate in partnership with local developer Origin Property Public Company Ltd. (hereinafter
“Origin”) based on a decision made at its board of directors meeting held in October last year, that
sales will be launched in November 2018.
This will be the fourth project in Bangkok, Thailand and the first joint project for the Origin Group’s
urban luxury condominium PARK ORIGIN Series. In addition to establishing approximately 60 shared
facilities within the condominium buildings, 24-hour, hotel-like management services will be provided
through collaboration with InterContinental the global hotels chains, IHG. Furthermore, Nomura
formed joint enterprises with Origin in August of last year in three condominium housing projects in
Bangkok*1 as well as in December of the same year in a serviced apartment project*2, and will
promote the continuation of its excellent partnership in Bangkok, Thailand, which will see continued
remarkable development. Nomura also established a representative office in Bangkok in July in order
to further enhance market research and information collection systems.
4th Series Residential Project in Bangkok, Thailand
PARK Origin Thonglor
Housing Sales for Approximately 1,200 Units to Launch in November
*1 “Three Projects with over 2,000 Residential units: Nomura Real Estate Takes its First Step into Bangkok’s Housing Sales Market” https://www.nomura-
re.co.jp/cfiles/engnews/n2017082400144.pdf
*2 “Nomura Real Estate to Participate in Serviced Apartment Project “Staybridge Suites Bangkok Thonglor” in Bangkok, Thailand” https://www.nomura-
re.co.jp/cfiles/engnews/n2017121400152.pdf
*3 “Overseas Resident Office Established in Thailand” https://www.nomura-re-hd.co.jp/cfiles/engnews/n2018070200174.pdf
Conceptual drawing
The Nomura Real Estate Group has positioned overseas business as a growth field in its medium-
term business plan (effective until March 2025). Accordingly, it plans to invest approximately 300
billion yen in residential business and leasing business by the business term ending in March 2025,
the majority of which will target Asian countries where real estate demand is growing. Thus far,
Nomura has participated in development projects in Bangkok, Thailand; Ho Chi Minh City, Vietnam;
Shenyang, China; and Manila, Philippines, among other places. It now looks to utilize the know-
how accumulated in Japan in helping achieve “New Value, Real Value” in Asian nations that are
expected to see continued growth through condominium housing sales, leasing offices and such.
■Bangkok’s Residential Market
Bangkok’s Residential market is showing stable long-term growth that is driven by an expanding
population in the middle-income bracket. Strong demand for housing is therefore expected to
continue. At the same time, market needs are undergoing a shift from “quantity” to “quality” in line
with the city’s economic growth. The result is an environment in which Nomura’s store of know-how,
built in Japan’s condominium housing sector over many years, should prove to be highly suitable. In
light of such circumstances, Nomura will aim to accurately grasp local needs and generate
differentiation in both product quality and services to provide new value to the local populace.
■Proposals for Storage and Living Space
As needs are changing from “quantity” to “quality,” Nomura, together with its local partners, has
endeavored to grasp the needs and living situations of the local populace through collaborative
studies with several universities such as Kasetsart University and King Mongkuts University of
Technology Thonburi. Regarding storage sections, Nomura has realized storage and living spaces
that are better adapted to needs through negotiation with Origin. Nomura will continue to provide
new value while collaborating with its local partners also for product planning and quality
management sections which it has developed so far.
■Project Overview
The project is located in Thong Lo, Watthana District, known as being a luxury residential area in
Bangkok, and will emerge with a large scale of 1,182 units which is rare for the area. Many foreigners
live in the area including Japanese nationals and there is an agglomeration of international schools,
the latest restaurants and luxury supermarkets. The project is situated in Thong Lo Soi 10 which has
prospered as the center of the area since long ago and will be comprised of three super high-rise
condominium buildings with 39 floors, 53 floors and 61 floors, all on a wide lot of approx. 3,000
tsubo.
The project will take advantage of the large-scale development to establish approx. 60 shared
facilities within the condominiums as well as provide 24-hour, hotel-like management services
through collaboration with InterContinental the global hotels chains, IHG.
Of the four main services, the first is the concierge service which is provided between 6:00 am
and 2:00 am the next day. The second is housekeeping for which residents may select cleaning by
the day or by the week. The third is guest relations which is provided between 6:00 am and midnight.
The fourth is engineering services through which repair services and such are provided on a 24-hour
basis.
エントランス・共用部などのパース複数点
■Conceptual Images
All images are perspective views.
Left: Managing Executive Officer Katayama, Nomura Real Estate Development
Right: CEO Peerapong, Origin
■Scene from the Press Conference
■Project Outline
Location Watthana District, Bangkok, Thailand
Access 17-minute walk from Thong Lo Station on the BTS Sukhumvit Line
Site area Approx. 9,674.0 m2
Total floor area Approx. 80,892 m2
Exclusive area Approx. 44,087 m2
Structure (planned) 39 floors, 53 floors and 61 floors
No. of units
(planned)
1,181
Planned completion December 2021
■Locality Map
・・・The project ・・・Other participating projects
Map data: Google
KNIGHTS BRIDGE PRIME
Ratchayothin
KNIGHTS BRIDGE
Collage Ramkhamhaeng
KNIGHTS BRIDGE PRIME
Onnut
Palace
CBD
area
Foreigners’
residential area
Suvarnabhumi
International
Airport
Don Mueang
International Airport
Government
office district
CBD
area
PARK Origin
Thonglor
STAY BRIDGE
Thonglor
■ Nomura Real Estate’s Overseas Projects
Nomura Real Estate Group has announced the medium-term business plan (effective until March
2025) in year 2015, positioning to “actively expand its overseas business taking advantage of
Nomura’s product planning, service knowledge that has been built over the years in the Japanese
market.” In relation to the above, as for the Development field;
■Expand residential and commercial projects in Asian nations with growing real estate
demands expected from economic growth
■Collaborate with leading local partners
■Invest 300 billion yen by the business term ending in March 2025
【Medium-term business plan】https://www.nomura-re-hd.co.jp/english/ir/pdf/plan2016_presen_en.pdf
Nomura sets the above three strategies. Nomura will also “expand the investment management and
brokerage business to meet the Cross-border investment demands” as part of Nomura’s
service/management business, and actively absorb the in-bound and out-bound investment
demands through “strengthening the cooperation with Nomura Security Group, which has strong
relationship with number of investors.”
In addition to the project described in this press release, Nomura is a participant in joint
development projects involving condominium housing in Ho Chi Minh City, Vietnam; in Bangkok,
Thailand; in Shenyang, China; and condominium housing and commercial facilities in Manila, the
Philippines, serviced apartment in Bangkok Thailand, office building in Ho chi Minh City, Vietnam; in
Beijing, China.
Project area Ho Chi Minh City, Vietnam
No. of units Approx. 2,300
Completion Planned for 2019 and after
Description Condominium
Japanese
partners
Daiwa House Industry,
Sumitomo Forestry
Project area Manila, Philippines
No. of units Approx. 1,400
Completion Planned for 2025 (four
residential towers) and after
Description Condominium, Retail
Japanese
partners
Isetan Mitsukoshi Holdings
*Press release issued on September 29, 2015 Conceptual drawing
*Press release issued on July 10, 2017
Conceptual drawing
Project area Bangkok, Thailand
No. of units Approx. 863 units, 601units
and685 units
Completion Planned for 2020~2021
Description Condominium
Japanese
partners
―
Project area Bangkok, Thailand
No. of units 303
Completion Planned for 2019
Description Serviced apartment
Japanese
partners
―
Project area Ho Chi Minh City, Vietnam
Total floor area Approx. 32,000 ㎡
Completion 1997
Description Office building
Japanese
partners
―
Project area Beijing, China
Total floor area Approx. 55,000 ㎡
Completion 1989
Description Office building
Japanese
partners
―
*Press release issued on Aug 24, 2017
Conceptual drawing
Conceptual drawing *Press release issued on December 14, 2017
*Press release issued on January 14, 2018
*Press release issued on July 9, 2018