Real Asset Group has teamed up with the major player in the Tokyo stock market, Sotetsu Group, to establish a joint venture called Real Partner Development Co., Ltd. to penetrate the urban condo market. Their first project, THE STAGE Mindscape Ratchada – Huai Khwang, has received an overwhelming response, showcasing its prime location just 250 meters from the MRT Huai Khwang station, with prices starting at 2.89 million baht, averaging around 100,000 baht per square meter.

Mr. Badin Thongjuangruangkit, CEO of Real Asset Development Co., Ltd., revealed that after the successful launch of their new condo brand The Stage in the Tao Poon area a few years ago, the company was approached by Sotetsu Real Estate Co., Ltd., a subsidiary of Sotetsu Holdings Co., Ltd., which is a major publicly traded company in Japan's first section of the Tokyo Stock Exchange. They are collaborating to establish a new company named Real Partner Development Co., Ltd.

This joint venture aims to leverage the expertise of both companies to create added value for the business and foster sustainable long-term growth. Sotetsu Group has been a public company for over 104 years, evolving through various service developments, including real estate along railway lines. As of March 31, 2021, Sotetsu Holdings, listed on the Tokyo Stock Exchange, had a registered capital of 38.8 billion yen and 30 subsidiaries covering mass transit, merchandising, real estate, and hotels, with total sales reaching 221.1 billion yen, of which 30.4 billion yen (14%) came from mass transit, 102.2 billion yen (46%) from merchandising, and 611 billion yen (30.8%) from real estate.

The company will initially focus on developing residential projects that differentiate themselves along current and future electric train routes, catering to the diverse needs and behaviors of the new urban generation, providing new options for ownership that offer convenience in commuting and a fulfilling lifestyle.

“The success of this joint venture lies in the strong brand of Real Asset Group combined with the solid financial position and know-how in residential project development from Sotetsu, which will attract both real demand buyers and foreign investors. This includes aspects such as design, construction, location potential, amenities, and comprehensive after-sales service that align with consumer lifestyles, leading to project developments that meet the needs of each target group effectively, as well as plans for future joint investments,” Mr. Badin Thongjuangruangkit stated.

The first joint venture project is THE STAGE Mindscape Ratchada – Huai Khwang, located on Pracharat Bamphen Road, Soi 6, approximately 250 meters from MRT Huai Khwang station, Gate 1, and just four stations away from connecting to the BTS at Asoke. Additionally, it offers access from three sides: Ratchadapisek Road, Ladprao Road, and Pradit Manutham Road. In the future, this area will also have the Yellow Line (Ladprao-Samrong) and the Orange Line (Cultural Center-Minburi) currently under construction, making the Ratchada-Huai Khwang-Rama 9 area a NEW CBD of Bangkok, home to numerous large office buildings and a significant expatriate community due to its proximity to the Chinese and Korean embassies and a wealth of amenities, including offices and shopping centers like Unilever G Tower, Esplanade Ratchada, and Central Grand Rama 9.

The project is designed as an Upper Class condominium with 29 floors and a total of 477 units. The unit types range from 1 Bedroom with usable areas of 26-35 square meters, with most units being 35 square meters featuring Multi-Function Spaces to truly accommodate urban lifestyles, to larger 2 Bedroom units with usable areas of 45-60 square meters for family living.

Recently, the project has received positive feedback, exceeding sales targets, emphasizing value with prices starting at just over 100,000 baht per square meter or 2.89 million baht, which is considered affordable compared to the average price in this area of over 130,000 baht per square meter. Meanwhile, rental yields in this area remain in high demand, with total returns exceeding 5%.

“To emphasize our position as a leader in the lifestyle of the new urban generation, THE STAGE Mindscape Ratchada-Huai Khwang has introduced a new sales channel through 'Line my Shop', with the new series of rooms, New Expanding Terrace, set to launch on October 15, 2021, with reservations opening at 10:30 AM exclusively through this channel,” he added.

Mr. Badin further explained that Line my Shop is a tool to enhance sales efficiency on LINE OA, offering various features from ordering, payment, status tracking, to product delivery. Customers can also enjoy a 360° Virtual Tour of the showrooms and find project information through the REAL ASSET App.

The project's facilities are designed to cater to the lifestyle of the new generation, especially Millennials who work in offices and from home. Thus, most common areas will be open 24 hours, including Co-Passion Space, Fitness, and a separate White Ion Bath Onsen for men and women to refresh and relax after work. Additionally, there is an Infinity Edge swimming pool with Ozone and Salt Chlorine systems, along with outdoor exercise areas for Jogging Track, Multiscape, and Playing Court, all managed through an IoT system to reduce common area costs, as lights will only operate at 50% when not in use.

At the same time, to support the rapidly changing lifestyles of the new urban generation, Real Asset has expanded its business by co-partnering with “Bottomless,” a true coffee specialist with 16 years of experience, developing into a roasting house that imports high-quality coffee beans from around the world, opening a coffee shop together under the name “Mindscape Café by Bottomless.” They have also partnered with Kochii to launch “Guild @ Mindscape by Kochii,” a gathering place for content creators and esports enthusiasts, featuring co-working spaces, studios for various projects including streaming, podcasts, and review stations, as well as an esports academy.

Interested parties can visit the project’s sales office to view the showrooms or inquire further via LINE OA: @thestagehuaikhwang or call 1232.