'Habitat Group' is set to elevate its condominium services to international standards by partnering with 'JRE Development', a leader in comprehensive real estate management under JALUX Inc. from Japan, which has over 30 years of experience. They will manage the 'Walden' brand across 4 projects located in prime CBD areas: Walden Thonglor 8, Walden Thonglor 13, Walden Sukhumvit 39, and Walden Asoke. Currently, JRE Development manages over 30 residential properties in Japan and aims to expand its market reach across Southeast Asia within 3 years.

            Mr. Chanin Wanichwong, CEO of Habitat Group Co., Ltd., a leader in premium real estate development for investment in Thailand, stated that the company aims to develop projects and services that cater to luxury investment and residential customers who seek high-quality, unique products that align with diverse lifestyles and enhance market value for future residents, along with improved service standards.

            Habitat Group has partnered with JRE Development, one of the leading residential project management companies in Japan, which currently manages several residential and serviced apartment projects. Through this collaboration, JRE Development will manage all 4 luxury condominium projects under the 'Walden' brand in three prime locations: Walden Thonglor 8, Walden Thonglor 13, Walden Sukhumvit 39, and Walden Asoke, establishing service standards for Habitat Group's condominium projects to instill confidence in investors and residents.

            “The decision to bring JRE Development on board as a partner to manage the Walden brand projects stems from their understanding of customer needs, especially for Japanese clients, as approximately 80% of our target rental customers are Japanese. Additionally, having a professional management company will assure buyers of the Walden brand projects of international standard services, enhancing confidence for both residents and investors,” said Mr. Chanin.

            However, whether customers are looking to purchase real estate for investment or personal residence, there is a demand for management services, especially in Bangkok. Over the past 1-2 years, the supply has exceeded demand from investors and tenants, leading to a situation where those who invested in Bangkok real estate could only rent out 60-70% of their properties, yielding only 3% returns.

            Mr. Masashi Higuchi, CEO of JRE Development Co., Ltd., a leader in comprehensive real estate management under JALUX Inc. from Japan, revealed that the Walden Thonglor 8, Walden Thonglor 13, Walden Sukhumvit 39, and Walden Asoke projects are the first 4 projects the company is managing in Thailand.

            “JRE Development is very pleased to be part of managing projects for a leading real estate developer like Habitat Group. We are ready to bring our extensive experience in project development and property management from Japan, which spans over 30 years, to this management endeavor. With our property management experience, especially in residential projects since 2011, and a track record of over 30 successful projects with an average occupancy rate of over 95%, we plan to expand our business from Japan to international markets, starting with Thailand before replicating our successful model in other Southeast Asian countries,” Mr. Higuchi stated.

            The decision to expand into Thailand first is due to the growth opportunities in the Thai real estate market, along with a significant population of Japanese expatriates living in Thailand, estimated at 70,000. JRE Development Co., Ltd. was established in 2015 with a registered capital of 28 million baht, with JALUX Asia Co., Ltd. holding 98%, JALUX Asia Service 1%, and JALUX RECRUITMENT ASIA holding 1%.

            “JRE Development predicts that in the next 5 years, more Japanese companies will continue to enter the Thai market, and these employees will require well-serviced condominiums, presenting an opportunity for market expansion both now and in the near future. Currently, our services and management approach are unique in the market, and we will prioritize customer needs by studying Japanese companies operating in Thailand and their budgets for employee housing. We will then set pricing accordingly, noting that the target foreign clientele typically has a housing budget of around 60,000 baht per month, which is in high demand in both the current and future markets,” he added.

            The service offerings within the projects will adhere to two main standards: 1. Standard Menu of L’axe, which includes basic services such as cleaning twice a week, Wi-Fi, Japanese TV standards, earning mileage with Japan Airlines (JAL) at 1% of monthly rent, and Japanese-speaking staff available 24/7. 2. L’axe Cafeteria Plan, which offers additional services tailored to customer needs, allowing for budget adjustments, such as cleaning services and laundry packages at special rates, airport transfers, and tenant liability insurance.