Asset Wise Public Company Limited, or ‘ASW’, is ramping up its efforts to strengthen and grow in the real estate market by partnering with ‘TOKYO TATEMONO’, a leading real estate giant from Japan, to jointly develop the project “Kave Coco Bang Saen” valued at over 2 billion baht, targeting the Campus Condo market near Burapha University, reinforcing its position as a true leader in condos close to universities.

Mr. Kramchat Wiphanpong, Chief Executive Officer of Asset Wise Public Company Limited (ASW), revealed that ASW has been continuously strengthening and growing in the real estate market. Recently, it has entered into a joint venture with Tokyo Tatemono Asia Pte. Ltd., a subsidiary of Tokyo Tatemono Co., Ltd., a leading real estate developer in Japan with a long history. Together, they are developing the project “Kave Coco Bang Saen” (Kave Coco Bang Saen), a condominium near Burapha University, with a project value of over 2 billion baht, building on past successes and reinforcing its leadership in the Campus Condo market. ASW holds a 51% stake, while Tokyo Tatemono holds 49%.

“This joint venture marks the second project between our company and Tokyo Tatemono, aimed at creating residences that cater to the lifestyles of the new generation, and it reinforces the confidence that Tokyo Tatemono has in our company as a leader in the Campus Condo market and in lifestyle real estate in Thailand. Tokyo Tatemono is a well-known real estate developer in Japan, listed on the Japanese stock market, with a diverse portfolio of projects for both residential and commercial purposes, including hotels, golf courses, and office buildings. It has built a reputation for attention to detail and a focus on high-quality project development, achieving revenues of 86 billion baht in 2022 with a registered capital of 24 billion baht,” Mr. Kramchat stated.

The “Kave Coco Bang Saen” (Kave Coco Bang Saen) project consists of 4 eight-story buildings with 974 units, with usable areas ranging from 23 to 34.50 square meters, situated on over 8 rai of land near Burapha University, surrounded by students and professionals. Prices start at 1.59 million baht, with a project value of 2 billion baht. The design features a distinctive, modern style that combines fun and flexibility to cater to the diverse preferences and lifestyles of the new generation. It boasts a large, modern, and trendy common area to support activities that foster endless creativity, including a Music Studio, Meeting Chamber, Learning Hub, Fit Studio, and Kave Theater. Previous projects under the Kave brand have received excellent responses from customers. Previously, ASW collaborated with Tokyo Tatemono on the Atmoz Oasis Onnut project, which consists of 1,110 units valued at 2.2 billion baht.

The Chief Executive Officer of ASW commented on the real estate market in Chonburi province, stating that it has shown remarkable growth due to being one of the areas in the Eastern Economic Corridor (EEC) development project, which includes significant infrastructure projects such as the motorway (Pattaya-Mab Ta Phut), high-speed rail (Bangkok-Rayong), Laem Chabang Deep Sea Port Phase 3, and the high-speed rail connecting three airports (U-Tapao-Suvarnabhumi-Don Mueang). This high-speed rail project will connect Don Mueang, Suvarnabhumi, and U-Tapao airports over a distance of more than 220 kilometers, with a station planned in Sriracha district, Chonburi, covering an area of over 25 rai.

Chonburi also plans to develop into an industrial and digital innovation promotion zone, serving as a center for investment and the development of digital workforce skills. Additionally, there are plans to establish a comprehensive medical innovation center to promote advanced research and medical innovations, as well as its potential as a significant tourist city with high purchasing power from local residents, foreign executives seeking second homes, and investors looking to rent for returns. This is expected to positively impact the real estate market in the province, with new residential supply projected to increase by an average of 8.4% per year from 2023 to 2025, while new sales are expected to rise by an average of 5.6% per year.

Focusing on the “Bang Saen” area, which is home to the renowned educational institution “Burapha University”, this university is also part of a special economic promotion project for genomic medicine, supporting a comprehensive medical and health industry. The project includes a 1.25 billion baht investment to establish a DNA database testing center for Thai people, aimed at creating a research center for DNA analysis to identify causes of serious diseases and elevate Thailand's medical treatment to global standards. Additionally, Bang Saen is known as a vibrant tourist destination, popular among Thai people, and a hub for the lifestyle of the new generation, including over 25,000 students from Burapha University, local residents, professionals, and tourists, leading to a high demand for condominium-type residences from students seeking accommodation during their studies or those whose parents purchase for them, with plans to sell or rent for good returns after graduation. Investors in the area, workers in large surrounding enterprises, and tourists who enjoy the Bang Saen lifestyle also contribute to this demand.

Mr. Tajima, Managing Executive Officer, Overseas Business Division Director of Tokyo Tatemono Co., Ltd., stated that the company recognizes the potential of the “Kave Coco Bang Saen” project, located in a high purchasing power area within the EEC. Projects under ASW's Kave brand have received excellent responses from customers, both from those looking to buy for residence and investors seeking rental returns. The company believes that Kave Coco Bang Saen will also be another highly successful project.

“We have confidence in ASW, a real estate developer with a far-reaching vision, committed to enhancing living standards and increasing future value, driving business growth steadily, as evidenced by the success of over 50 quality real estate projects, along with a commitment to expanding growth into various markets. This joint venture will develop another quality project and continue to grow strongly together,” Mr. Tajima stated.

It should be noted that ASW operates in real estate development, focusing on high-rise and low-rise residential projects in prime locations, under the concept of “Happiness Designed for You” or “We Build Happiness.” Currently, it has developed over 50 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR, with a total project value exceeding 55.3 billion baht, comprising 37 completed and ready-to-move-in projects and 13 projects currently open for sale and under development. The company currently has a backlog worth over 12.5 billion baht.