Property Perfect Plc. (PF) and Grande Asset Hotels and Property Plc. (GRAND) in collaboration with "Sumitomo Forestry Co.,Ltd." to develop super-luxury condominiums in Thailand. Beginning with Hyde Heritage @Thong Lor, continuing the collaboration with high-end condominium project by Chao Phraya River on Charoennakorn Road. The riverside condominium is expected to be the most attractive landmark on Chao Phraya Riverside, under influence and expertise of "Sumitomo Forest" with their materials and technology used for construction and furniture. Thus, consumers can be assured about the quality, up to Japanese standards with their product quality control acknowledged worldwide.
Under the agreement, a joint venture has been set up, 40% owned by Grande Asset, 11% by Property Perfect and 49% by Sumitomo Forestry (Singapore) Ltd. which is a wholly- owned subsidiary of Sumitomo Forestry.
The Sumitomo Forestry Company was founded over 300 years ago in 1691, when the Sumitomo family started providing timber to the Besshi Copper Mine, located in the Ehime Prefecture of west Japan. Its mission is “To contribute to society, economy, and environment through the boundless possibilities of timber.” Sumitomo Forestry is today a forefront company operating extensive businesses in Japan and overseas, covering Housing Business, Timber and Building Materials Business, Forestry & Environment Business, and Lifestyle Services Business.
Regarding the Housing Business, Sumitomo Forestry started the housing construction service in 1975, boasting its expertise in traditional Japanese custom-built detached wooden houses. It also pioneered the big-frame construction method in Japan. Sumitomo Forestry has so far built approximately 280,000 detached houses and expanded the business to cover renovation, landscaping, property brokering and rental property management services.
As for overseas business, Sumitomo Forestry is constructing comfortable houses adapted to the cultural demands of every country, and currently selling over 7000 houses a year in America and Australia. In Asia, their network is being expanded to include condominium development projects in Vietnam and Hong Kong. And now it is ready to invest in its first real estate development in Thailand and to share vast experiences and technology for even further advances in the country’s development of pleasant living environments.