Sansiri adds to its existing portfolio with lifestyle and technology companies.
One of Thailand’s leading property developers has taken steps to expand its operations from real estate. Sansiri who are known domestically and regionally for their expansive property portfolio have announced that they have dipped their toes into other industries.
Injecting USD 80 million worth of investment into six lifestyle and technology companies. A vast chunk of this, USD 58 million, is solely for Standard International. An American chain of boutique hotels in New York, Miami and Los Angeles. It is considered to be one of the country’s biggest brands. It also encompasses One Night, a mobile booking app that allows users to book hotel stays for that day.
The remaining five companies include a 5.9 share of Monocle. A well regarded lifestyle magazine based in London that also operates on radio, online, retail and hospitality. 6.09 stake in JustCo, a Singaporean co-working space operating in South East Asia. Hostmaker who manage London’s Airbnb network. Finally, Farmshelf a smart indoor farm technology company which aims to grown food easily indoors.
Srettha Thavisin, president of Sansiri, commented, “Our next chapter centres on anticipating and meeting evolving consumer needs by creating a world-class modern living platform. This involves taking Sansiri to the next level as a global brand, ensuring we are at the forefront of tech and innovation, transforming ourselves for the future, and creating a synergistic environment for our business to grow”.
These are the first steps that the company has taken from their core business of property. Forecasting that this sector will only grow at a conservative pace meaning that the company has ventured elsewhere for its expansion. Identifying that building these lifestyles brands will continue with their success.