Toraysee Thai Agency Public Company Limited (TTA) has joined forces with Kanden Realty and Development Co., Ltd. (KRD) and Tore Construction Co., Ltd. (TCC), renowned real estate construction and development companies from Japan, to sign a long-term strategic cooperation agreement and establish a joint venture named "PMT Property Co., Ltd." The aim is to jointly invest in the luxury real estate sector in Thailand.

This agreement aligns with the long-term strategies of all three companies, combining TTA's extensive global asset investment experience with KRD's market share in global real estate development and TCC's specialized expertise in integrated construction and real estate. Under this agreement, TTA will hold a 60% majority stake in PMT Property, while KRD and TCC will hold 30% and 10%, respectively.

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Mr. Chalermchai Mahakijcharoen, CEO and Managing Director of Toraysee Thai Agency Public Company Limited, stated, "TTA is seeking business partners to help elevate the company as a trendsetter in the real estate sector, especially after acquiring a prime piece of land on Sathorn Road, which is becoming increasingly rare. TTA sees the potential to enhance value by developing it into luxury residences. Partnering with KRD and TCC aligns with our company's goals. Additionally, each company shares similar values, business ethics, and importantly, a vision for expanding business opportunities through their respective networks."

Ms. Usana Mahakijcharoen, Deputy CEO of Toraysee Thai Agency Public Company Limited, revealed, "Under PMT Property Co., Ltd., we aim to create our first condominium project as a new luxury landmark in Thailand. Despite the numerous condominium projects in Bangkok and the impact of the COVID-19 pandemic on the real estate sector, Sathorn remains a thriving business district that continues to attract interest and demand over the years and into the future, thanks to its significant location and diverse lifestyle with convenient transportation links via the BTS Skytrain."

"With the expertise of our Japanese partners combined with the advantageous location in the real estate sector, we are confident in our success in property development. Our company is committed to responding to the changing lifestyle needs post-COVID-19 by introducing innovative solutions and modern designs that will enhance quality of life and provide an exceptional living experience for our target customers."

KRD's impressive track record in developing condominiums and residential properties in Japan has been successful with its flagship brand, CIELIA. Currently, the company has developed approximately 50,000 residential units across Japan. Globally, KRD is interested in developing residential projects in Southeast Asia and has recently expanded its business into the United States and Australia.

Mr. Kenichi Fujino, Chairman of Kanden Realty and Development Co., Ltd., stated, "Thailand is the third country in Southeast Asia where we are interested in expanding our condominium and housing business, following Vietnam and Indonesia. By starting this joint venture with partners in Thailand, we are committed to leveraging our expertise in real estate development from Japan to support our operations here. We believe that the collaboration among TTA, TCC, and KRD will create a unique identity and new value for the condominium market in Thailand."

Mr. Masanobu Kadokawa, Chairman of Tore Construction Co., Ltd. (TCC), revealed, "With many years of experience in Thailand and innovative knowledge and new technologies in condominium project development from Japan, we are confident that we can deliver value in the condominium projects we will develop for potential buyers in Thailand. Since 1972, TCC has delivered over 29,000 units across Japan. Currently, the company operates an integrated construction and real estate development business, including comprehensive construction services from land acquisition and planning to management and after-sales services."