Well respected developer Ananda is continuing to strengthen its position in the market with more joint ventures with Mitsui Fudosan.
Known for their residential projects situated along the mass transit network, Ananda Development Public Company Limited, have announced that they are launching six projects in Bangkok. Three of which are a joint venture with Japanese firm Mitsui Fudosan. A partnership which has been in place since 2013, to date Ananda and Mitsui Fudosan have nine projects with a value of THB 45,000 million.
Mr Chanond Ruangkritya, chief executive officer and president of Ananda commented that, “The company has been continued to gain the confidence and trust from Mitsui Fudosan… who are the strong business partnership, and Ananda is very proud of this successful joint venture”.
The three projects under the joint venture are IDEO MOBI Asoke, Ideo Sukhumvit 93 and MOBI Sukhumvit 66, whose value is expected to be in the region of THB 12,000 million. IDEO Phaholyothin Chatuchak, Venio Sukhumvit 10 and UNIO NIDA – Seri are Ananda’s other three. The combined value of all projects is THB 16,000 million and all are designed to meet the needs or those living in urban locations needing access to the mass transit network.
Mr. Akihiko Funaoka, executive managing officer of Mitsui Fudosan Company Limited, the largest real estate developer in terms of revenue and profit in Japan, said, “Since the beginning of our cooperation until today, our company has been confident in the potential of Ananda, the leader in condominium market near mass transit areas with the expertise and ability to develop attractive projects designed to respond to urban lifestyles of customers… Our Company has been looking forward to strengthening our relationship with Ananda and we are confident in our continued success. This year, we are adding three new projects to our joint venture: IDEO MOBI Asoke, IDEO Sukhumvit 93 and IDEO Sukhumvit 66. These new joint venture projects are in line with the strategy to develop mass transit condominiums with attractive facilities and amenities at reasonable pricing”.