Jas Asset expands into condo development
JAS ASSET will invest Bt1.45 billion to expand into condominiums, open eight IT Junctions and create a marketing channel to boost its revenue by more than 30 per cent this year from Bt562 million in 2016.
“Condominiums are our new property business, after we set up three community malls – The Jas Ramintra, The Jas Urban Srinakarin and The Jas Wanghin,” chief executive officer Suphot Wanna said.
“We will also renovate The Jas Ramintra and The Jas Wanghin this year,” he said.
The grand opening of the Bt1.4-billion condominium on a 2-rai (3,200-square-metre) site in Lat Phrao will be staged in the second half of this year.
The eight new IT Junctions will be lifestyle malls providing rental spaces for shops selling smartphones, information-technology products and accessories.
The firm operates 52 IT Junctions nationwide with more than 1,000 shops and 11,700sqm of rental space.
Revenue from the IT Junction business is expected to increase by 15 per cent this year.
The company and its partners Advanced Info Service, Oppo, Vivo, Huawei and Jaymart will stage a big celebration of the 17th anniversary of IT Junction by giving away a whole lot of prizes throughout the year such as cars, motorcycles and trips abroad.
This collaboration aims to give presents back to customers with the expectation of setting the world on fire for smartphone markets, upgrading the one-stop service centre of mobile phones into lifestyle malls and meeting the needs of younger consumers,” Suphot said.
“The business of managing the rental space of IT Junction grows well because smartphone markets are getting busy and have high values. Therefore, shops need more sales areas and room to expand.
“This is an opportunity to expand the business of managing rented space to cover Bangkok, its perimeter and other provinces. Also, the company plans to expand to 60 branches this year.
“The important factor comes from the collaboration with Big C Supercenter in getting into managing the rented areas of one-stop-service centres for mobile phones.
“The company plans to expand into other service areas that have potential as well as to modernise its image so that it will be more than a centre for mobile phones,” he said.
