Hankyu Hanshin Properties Corp. is engaged in three housing projects for condominiums and townhouses in Thailand jointly with local developer Sena Development Public Co.
The projects involve building 1,140 units in the Ladkrabang district and 500 units in the Sai Mai district, both in Bangkok, and 630 units in Samut Prakan Province in the capital’s eastern suburbs, according to Hankyu Hanshin Properties.
The Osaka-based company said the housing complexes, all for sale, are scheduled to be completed by 2023. The construction of townhouses will be finished in stages from later this year.
The Ladkrabang complex is located near the Ladkrabang Industrial Estate, east of Bangkok city center, where demand is expected from employees at the industrial park.
The project in the Sai Mai district is under way at a site close to Don Mueang International Airport. Its location is northeast of central Bangkok and a 10-minute walk from Sai Yud station on the Bangkok mass transit system’s Sukhumvit Line.
Hankyu Hanshin Properties counts airport employees as among potential buyers for the units, which are made up solely of condos, and which are being developed as the “Saphanmai” project.
The Thepharak project in Samut Prakan Province is anticipated to arouse interest from those who work at the nearby Bangplee Industrial Estate.
The latest announcement brings to 17 the number of housing projects in Thailand and 32 outside Japan for the real estate subsidiary of railway operator Hankyu Hanshin Holdings Inc.
They involve about 13,160 units in the Southeast Asian country and a total of about 35,500 units overseas.
Meanwhile, Sena Development has announced the establishment of two joint ventures engaged in two of the three projects — SENA HHP 17 Co. for the Ladkrabang project and SENA HHP 18 Co. for the Saphanmai project.
They are capitalized at 500 million baht ($15.3 million) and 260 million baht ($7.9 million), respectively, with each owned 51 percent by Sena and 49 percent by Hankyu Hanshin Properties. (NNA/Kyodo)