AP Thailand and Mitsubishi Estate continue their collaboration on the occasion of their 10th anniversary, announcing the roadmap plan 'FROM STRENGTH TO STRENGTH' to drive their joint venture towards endless growth. This includes a registered capital investment of 12,619,408,010 Baht aimed at expanding condominium development investments in Thailand, capitalizing on the recovery of the urban condominium market along the mass transit lines, which continues to show growth potential. The mission also aims to connect expertise and knowledge to elevate the quality of mid-to-high-end condominium developments in Thailand, making a better life accessible for everyone.

Mr. Anupong Asavaphokin, CEO of AP Thailand, stated that the 10th anniversary of the successful business collaboration between Mitsubishi Estate and AP Thailand is a significant pride for AP Thailand and represents an important milestone reflecting the confidence of partners in AP Thailand's operations, showcasing its competitive capabilities and growth potential in Thailand's residential real estate sector, comparable to international standards.


Mr. Anupong Asavaphokin, CEO of AP Thailand

Moreover, Mitsubishi Estate and AP Thailand are the first and only business partners to establish a joint venture company in Thailand named 'Premium Residence Co., Ltd.' with a shareholding ratio of 51:49, serving as the main company for long-term investment in residential project development in Thailand, with a current registered capital of 12,619,408,010 Baht (Twelve billion six hundred nineteen million four hundred eight thousand ten Baht). This collaboration has also contributed significantly to the Thai real estate sector.

In terms of investment, this collaboration has driven the industry, creating jobs for over 100 partner companies within the ecosystem of the industry, facilitating mutual knowledge exchange in business operations and social contributions, which is quite challenging for short-term joint ventures.

Mitsubishi Estate stands out not only for its company size and global experience but also for its visionary leadership that supports the advancement of Thailand's real estate industry. It plays a crucial role in inspiring the AP Thailand team to continuously create better living spaces that meet the needs of customers.

Mr. Atsushi Nakajima, President and CEO of Mitsubishi Estate Co., Ltd. stated that Mitsubishi Estate's overseas business began 40 years ago with real estate development in Europe and the United States. Today, Mitsubishi Estate has real estate businesses in various countries and regions, particularly in Asia, where Thailand is a key investment base due to its potential real estate market and conducive business environment, along with strong partnerships like that with AP Thailand.


Mr. Atsushi Nakajima, President and CEO of Mitsubishi Estate Co., Ltd.

Over the past 10 years of collaboration with AP Thailand, Mitsubishi Estate has developed a deep understanding of each other's corporate culture and philosophy, enabling knowledge exchange and long-term business management perspectives that would not have been possible with a short-term project-based partnership.

With a profound understanding of working with AP Thailand and the confidence that Mitsubishi Estate has in AP Thailand's deep knowledge of condominium project development, attention to detail in all processes, and planning, working with AP Thailand as a similarly specialized real estate developer has provided significant learning opportunities for Mitsubishi Estate.

Additionally, both companies are committed to creating contributions to our joint venture business and Thai society by sharing our knowledge and expertise from Japan through various activities of AP Thailand. Currently, both companies are diligently working on implementing the concept of inclusive design as a principle in project development.

Mitsubishi Estate takes great pride in contributing to Thai society through its joint venture with a strong and reliable partner like AP Thailand and will continue to work together to provide value as a Japanese company to Thai society in the future.

On the occasion of the 10th anniversary of the AP Thailand - Mitsubishi Estate partnership, a total of 24 joint venture condominium projects have been developed on prime land along the BTS lines in Bangkok, with a total value exceeding 116.3 billion Baht. Each project has received positive feedback from customers in terms of sales and ownership transfer, with 13 projects already sold out, while 11 joint venture projects are still under development and available for sale (total value of 55.65 billion Baht), with an average sales rate of approximately 60%, equating to a market value of available products at 20.375 billion Baht.


Ms. Kamolthip Bumrungchaidum, Deputy Managing Director of the Condominium Business Development Division at AP Thailand


Ms. Kamolthip Bumrungchaidum stated that in the second half of this year, AP Thailand - Mitsubishi Estate is set to launch two MASTERPIECE projects, which are the pride of the year, on two landmark sites in Bangkok. The first highlight is the upcoming transfer of ownership for a new condominium.

  • THE ADDRESS Siam-Ratchathewi, project value 8.6 billion Baht, a prestigious-luxury project that epitomizes exquisite craftsmanship and attention to detail, located just 150 meters from BTS Ratchathewi, showcasing stunning views from every angle. The 1-bedroom unit, 35 square meters, with a panoramic city view starts at 8.29 million Baht, with ownership transfer scheduled for August 26-27.

  • Another highlight is the opening of the latest flagship joint venture project RHYTHM Charan Nakhon Iconic on a 4-rai plot, valued at 4.5 billion Baht, located on Charan Nakhon Road, directly opposite Icon Siam, just 100 meters from the Golden Line BTS station, designed to meet the demand of high-end customers, showcasing a new development model under the concept of SUPER CONDOMINIUM that combines the best of everything.

Through three main dimensions:
(1) SUPER DESIGN - the pinnacle of design uniqueness that achieves harmony in every aspect, including SUPER SPACE UTILIZATION and SUPER TIMELESS DESIGN ELEMENTS, with outstanding features.
(2) SUPER RADIUS - located in a prime area, fully equipped with amenities, connecting global lifestyle experiences within just 100 meters.
(3) SUPER BLUE CHIP - the ultimate value and added value reflected through branding and project development, establishing a new landmark condominium. Sales are set to open in November,” concluded Ms. Kamolthip.

AP Thailand – Mitsubishi Estate continues to expand investments under a shared commitment to create new value for the Thai condominium industry. With the strength of AP Thailand, a leader in real estate development in Thailand, combined with Mitsubishi Estate, a giant from Japan known for its SYSTEM PROCESS and world-class innovation technology, this collaboration will leverage strong resources to enhance development potential, maximizing benefits while creating new value through innovative designs that continuously evolve, aiming to meet the trend of inclusive living that will differentiate new project developments along the mass transit lines, ultimately benefiting urban residents by providing better choices for a good life that everyone can select for themselves, ensuring efficiency with global sustainability standards in the Thai condominium industry.