SC Asset Corporation Public Company Limited, or SC, has recently announced a new joint venture with Tokyo Tatemono, a major real estate development company from Japan with over 128 years of industry experience. This partnership aims to leverage the strengths of both companies to develop warehouses and factories for lease, catering to the growing e-commerce sector, starting with two strategic locations: Bangna Km. 20 and Laem Chabang, following their previous joint venture in condominium development last year.

Mr. Natthapong Khunakarawong, CEO of SC Asset Corporation, stated, "The sustainable growth direction of SC in the third decade (2024-2033) is to create value for people and the environment across various businesses. The diversity of our business will enable the organization to grow flexibly amidst volatile situations. Investing in warehouse and factory leasing is one of our key strategies to generate recurring income for SC. This business is expected to grow strongly, supported by the expansion of e-commerce in Thailand. Over the next 10 years, SC aims to develop a total of 1 million square meters of warehouses and factories. This time, Tokyo Tatemono and SC have decided to jointly invest in developing a total of 126,704 square meters of warehouses and factories in Bangna Km. 20 and Laem Chabang, marking our second joint venture following the success of our first condominium project. We plan to continue our joint ventures in the future, as we share a vision, attitude, and knowledge that strengthen each other well."

Tokyo Tatemono is a leading real estate company from Japan with a strong financial position, boasting a registered capital of 22 billion baht and assets exceeding 460 billion baht as of the end of 2023. With over 128 years of experience in developing various types of real estate, including condominiums, offices, hotels, and retail spaces, it is recognized as one of Japan's most experienced real estate developers, particularly in the warehouse sector, where the company has extensive management and development expertise and plans for continuous investment expansion.

Mr. Fumio Tajima, Managing Director and Director of International Business at Tokyo Tatemono, remarked, "This joint venture in warehouse and factory leasing with SC marks our first investment in logistics in Thailand. Thailand is one of the Southeast Asian countries with high potential, boasting one of the largest economies in the region and strong consumer purchasing power, especially through online channels. It is expected that by 2026, the e-commerce market in Thailand will grow fourfold compared to 2021. Additionally, Thailand is strategically located at the center of the regional transportation network, and the government has policies to promote investment to attract global investors, making Thailand a manufacturing base for various industries to export worldwide. This creates significant opportunities for the logistics market in Thailand to expand further."

The joint venture plans to develop two warehouse and factory leasing projects in two locations: SCX Bangna Km. 20, located near the heart of Bangkok and Suvarnabhumi Airport, is a prime area with high demand for warehouse and distribution center space for e-commerce businesses due to its convenient access to central Bangkok. This project will consist of five warehouses totaling approximately 78,252 square meters, divided into four phases, with the first phase expected to be completed in January 2025, phases two and three in April and December 2025, and phase four in February 2026.

Another project, SCX Laem Chabang, is situated near Laem Chabang Port, the largest international trade port in Thailand, within the Eastern Economic Corridor (EEC) supported by the government to promote investment, particularly in the electric vehicle industry. This has led to a demand for warehouse space for storing components related to exports. This project will consist of three warehouses totaling 46,602 square meters, divided into three phases, with the first and second phases expected to be completed in February and May 2025, and the third phase in January 2026.