Anabuki plans to sink B1bn into residential market

Japanese developer Anabuki Group is planning to invest more than 1 billion baht in Thailand's residential market over the next five years, eyeing low-rise condos that have garnered greater interest following the recent earthquake.

- KANANA KATHARANGSIPORN

Group director Masaaki Kagawa said the March 28 earthquake that rocked Myanmar, Bangkok and other parts of Thailand raised concerns about high-rise condos, particularly among those residing on upper floors who were forced to evacuate.

“Locations for our first condo venture will be near mass transit stations, with units priced at 3 million baht or less, as we aim to tap into the mass market,” he said.

“We are seeking a local developer for a joint venture.”

Mr Kagawa said although Thailand’s residential market has slowed, it continues to expand, unlike in Japan where the population is declining and the property sector has been affected by prolonged economic stagnation.