The Nest Property Co., Ltd. (The Nest), one of Thailand's leading real estate development companies, has entered into a strategic partnership with Kanden Realty and Development Co., Ltd., the largest real estate developer in Japan, to unlock new business opportunities in Thailand's real estate sector.

The first project under the joint venture, named “The Nest Home,” which will have a shareholding ratio of 60:40, will be a luxury single-detached house project located on Srinakarin-Romklao Road (Bangkok Kritha area) valued at 2.5 billion baht, scheduled to launch in 2022.

Ms. Usana Mahasiri, Chief Executive Officer of The Nest Property Co., Ltd. stated, “Over the past 10 years, The Nest Property has achieved significant success in developing luxury condominium projects in Bangkok. To enhance growth and strengthen our brand, the company has strategically decided to expand into the single-detached house market, which shows high potential, especially in prime urban and suburban locations. In recent years, land in these areas has seen a substantial increase in demand and is expected to remain sought after in the future. Partnering with KRD, an international real estate expert, combined with The Nest Property's experience in Thailand, the company is committed to creating growth value in the real estate business and providing higher value to customers. We are confident that we will become one of the successful and prominent real estate developers in the market.”

Mr. Kenichi Fujino, Chairman of Kanden Realty and Development Co., Ltd. said, “The company has expanded its business by focusing on developing residential projects in Southeast Asia and leasing office buildings, among others, including residential project development in the United States and Australia. To date, the company has participated in the development of 7 residential projects in Vietnam, Indonesia, Thailand, and the United States, as well as 11 leasing projects in the United States, Singapore, and Australia. In the future, the company aims to create a suitable business portfolio in Thailand by investing not only in condominium projects but also in single-detached house projects, which are expected to remain in demand. The company will continue to strengthen its collaboration with The Nest Property and aims to create new value for the real estate sector by integrating wisdom and expertise gained from operating in various countries.”

The collaboration between The Nest Property and Kanden Realty and Development arises from shared philosophies and business commitments, leading to the development of real estate with endless possibilities and setting international standards for high-end properties in the country.

Kanden Realty and Development Co., Ltd. is a real estate development company under Kansai Electric Power Co., Ltd. (KEP), one of Japan's largest energy companies, and is a comprehensive real estate developer covering the Kansai area. KRD has developed condominium and housing projects under the CIELIA brand and is also involved in sourcing, developing, and leasing profitable properties, including office buildings, amenities, hotels, and logistics.

The Nest Property, managed by the Mahakij Siri family and led by Ms. Usana Mahakij Siri, who is passionate about real estate development, aims to expand into the single-detached house development business and has set a challenging growth plan. With new projects and the company's experience, it will be a strong foundation for the joint venture between the company and KRD to thrive.

About KRD

Kanden Realty and Development Co., Ltd. (KRD) is a real estate development company under Kansai Electric Power Co., Ltd. (KEP), one of Japan's largest energy companies. KRD specializes in the development, management, and investment in residential and commercial real estate, covering areas in Kansai, Tokyo, Sendai, and international markets.

About The Nest

The Nest Property Co., Ltd. is a real estate development company under PM Group Co., Ltd., established in 2009 with the goal of becoming one of the luxury real estate developers (residential, condominium, and hotel projects). The company has already accumulated land in prime locations in Bangkok.