JV launches Japanese-style condo project

Shinwa plans to use Thailand as a base to expand into other countries in the region.
Wichai Chula-Olarnkun, co-chief executive of W-Shinwa Co, said the firm’s key policy was to develop a project with Japanese-level quality, which is regarded as one of the highest standards in the world. 
There are a lot of condominium projects in Thailand, but the company believes that none of them offers authentic Japanese living standards like Runesu Thonglor 5. 
“With the unique know-how of leading Japanese property developer Shinwa, the project is genuinely perfect,” Wichai said. 
“In the first three years, W-Shinwa will focus on property development, property management, rental management and construction, starting with property development in the first stage.” 
Tomoyasu Yamabe, W-Shinwa Co’s other co-CEO, said Shinwa Group was founded 60 years ago with its headquarters in Osaka. It is a large conglomerate with many subsidiaries and affiliates. 
Its property-development business is renowned and well accepted in the industry, he said. 
Its policy is to expand investment overseas, and it has selected Thailand as a country with high potential for exponential growth in the property sector. 
Thailand is also the centre of Southeast Asia, Yamabe said, and it will be a solid base for expanding into other countries in the region as well as the United States and Europe.
“Before finalising the joint venture in W-Shinwa, we [held discussions] with many firms. We chose to join hands with Woraluk Property because our policy, management and vision [are] in the same direction. 
“This is the first joint venture for Shinwa Group, and we see a business opportunity with a strongly confidence [and are strongly confident] in the Thai market. 
“Despite [the large number of] condominium projects in Thailand, if we have a clear vision in design and construction as well as location and the time is right, we can be successful. 
“In Japan, property projects developed under the Shinwa Group brand are well accepted for quality [rather] than pricing. We believe that with our reputation and past work, we will receive good feedback from target customers, who are Japanese expatriates in Thailand as well as Thais and other foreigners who prefer authentic Japanese living, which we can definitely guarantee [for] the first time in Thailand,” Yamabe said.
He added that the firm was confident Runesu Thonglor 5 would be a worthwhile choice for those looking for an investment or to rent out.