On April 19, 2024, Phaya Phanich Property Co., Ltd., a subsidiary of Chao Phraya Mahakhan Public Company Limited, signed a joint venture agreement with Sotetsu Real Estate 2 (Thailand) Co., Ltd. in a partnership ratio of 51:49 to jointly develop the One Bangkok Smart City Phase 2 project through 3PJVC2 Co., Ltd.

The One Bangkok Smart City Phase 2 project is a residential development that emphasizes its prime location near Bangkok University Rangsit. The project consists of four 8-story residential buildings, including a parking structure, with a total of 797 units and a project value of 1.2 billion baht, catering to the New Generation customer segment and appealing to investors.