Saha Group has partnered with Japan-based real estate firm Tokyu Corporation to invest an additional 800 million baht in expanding its real estate investments in Chon Buri's Si Racha district.
The group plans to develop an additional 50 rai in HarmoniQ 2, a Japanese-style residential community, following its successful HarmoniQ 1 project. Showrooms for the project are set to be completed in April.
"Although the Thai economy is expected to slow down this year along with the global economy, we believe in the strength of the Thai economic structure. EEC, in particular, has the potential to grow continuously, while the real estate sector in the area is likely to rebound," said Vichai Kulsomphob, president and chief executive of Saha Pathana Inter-Holding Plc.
"We are planning to expand our investments to prepare for the economic activities after the rebound," said Mr Vichai.
HarmoniQ 2 aims to cater to Japanese expats working in the EEC.
"With our expertise as a top investor in Thailand and Tokyu Corporation's knowledge accumulated from its 98 years of real estate development in Japan, we are confident that this project will be developed with efficiency with a result that will perfectly cater to the customers' needs," he said.
"We are committed to creating a continuous and unstoppable growth for our real estate business in Si Racha," said Mr Vichai.
Si Racha is home to over 10 industrial estates and over 1,300 factories. There are over 20 Japanese business associations and over 10,000 Japanese people located in the area.
"The investment in this project will help to reinforce Si Racha's position as the industrial capital of the EEC," he said.