BTS Group and Sansiri join hands to establish a joint venture company, for the development of new condominiums located adjacent to the BTS SkyTrain.

Combining confidence in leading property developer Sansiri, with the convenience and potential of BTS Groups’ land bank of prime locations along the SkyTrain, to introduce a new phenomenon to the Bangkok property market.

Keeree Kanjanapas (third left), chairman of BTS Group Holdings, holds a press conference announcing the joint venture, along with Sansiri chief executive Apichart Chutrakul (second right) and president Srettha Thavisin (far right).

Combining the strengths and synergies of these two major companies, BTS Group- a leading mass transit provider and Sansiri- a leading property developer, particularly of condominiums located next to mass transit systems , is set to create a new phenomenon in the Bangkok property market. The companies will jointly develop a mega project, introducing a new concept in city living. The first project worth 5 billion baht, is planned to be launched in early 2015.

Mr. Keeree Kanjanapas, Chairman, BTS Group Holdings PLC, disclosed that the company has recently established a joint venture company with Sansiri PLC, to develop a condominium project on a 50:50 basis. With the shared vision of creating a new phenomenon in Thailand’s property business, BTS Group and Sansiri will collaborate to combine resources and abilities of the two companies, for maximum benefit and return. The formation of this strategic partnership will add a new dimension to the city’s property industry. Not only making a big difference to the development of new projects along both the existing and future mass transit routes, but also providing a new way for home buyers to own property, offering convenient seamless access to city transportation, dynamic lifestyle opportunities and comfortable family-oriented living.

“The BTS Group brings to the table strong financial standing with cashflow of 30 billion baht to support further investment in mass transit projects, as well as highly experienced and professional human resources. Growth in revenues of the BTS SkyTrain in the fiscal year 2014/15 is expected to be 12-15 percent and by combining BTS Group’s land bank of prime city locations with Sansiri’s proven expertise in developing residential projects along both existing and future mass transit lines, creates the ideal synergy for successful collaboration. The first project for this strategic partnership is a condominium, offering unobstructed views of 3 public parks in Bangkok, covering a total area of more than 700 Rai. Also included in the project pipeline are projects worth more than 25 billion baht.” Mr. Keeree said.

Mr. Keeree added that one of BTS Group service businesses is the “Rabbit” smartpass, which currently has more than 3 million cardholders, with over 2,000 retail brands accepting payment via the Rabbit card. This is an example of how projects jointly developed by BTS Group and Sansiri will be differentiated and enhanced, with the addition of other such businesses in the future.

Mr. Apichart Chutrakul, Chief Executive Officer, Sansiri PLC, said that the strategic partnership between Sansiri and BTS Group stems from a common business philosophy, aimed at offering customers improved living and lifestyle opportunities. During the past 30 years or more, Sansiri has developed many residential projects aimed at satisfying all customers’ needs. Overtime Sansiri has established its position as one of Thailand’s leading property developers, with a reputation for developing high quality detached houses, townhouses and condominiums, both in Bangkok and other provinces. To date the company’s portfolio includes a total of 280 projects, consisting of 28,000 households, located in 15 provinces nationwide.

“Sansiri’s core business is property development, however we recognise the importance and opportunities to enhance and add-value through other business cooperation. Currently we are the only property developer to offer the full range of property services in Thailand, however Sansiri still has further potential to expand its business through strategic partnerships. In our new joint venture with BTS Group, we are about to witness another important milestone in the development in the property business, further optimizing returns to investors” Mr. Apichart said.

The first project to be developed under the new joint-venture company, is valued at approximately 5 billion baht and will be conveniently located close to the BTS Mo Chit Station. The launch is planned for early 2015.

“As a leading developer of premium-grade condominiums for over 30 years, Sansiri is confident of the success of this new project under joint development with the BTS Group, due to it’s great location situated in a major business district as well as close to the mass transit system, providing convenient access to transportation and enhancing modern city living. Panoramic views of parks and the surrounding cityscape, respond well to the needs and aspirations of city residents, so we believe that this first project will definitely be well-received.” added Mr. Apichart.