Staffed by experienced professionals 24 hours a day, the centre acts as a centralised communications hub where critical information for events and incidents related to security and facility management from Sansiri’s connected properties is captured and reported in real-time, and authorised security officials can decide the best course of action fast, accurately and efficiently in response, as well as implementing the best preventive maintenance plan for property management.

Pilot trial of the centre is under way at four selected Sansiri residential projects, giving residents an enhanced level of security and peace of mind while they are away for New Year holidays. It will eventually cover Sansiri’s 11 new residential projects, managed by Plus Property, Sansiri Plc’s chief technology officer Tawicha Trakulyingyong said yesterday.

Trin said that, aside from the company’s own funds, the project – called Trin Nakara Golden Triangle – would also draw investment from foreign entities in the Asean region and farther afield, including Malaysia, Singapore, Japan, Hong Kong, mainland China and the United States.

The 3,139-rai site covers three sub-districts – Wiang-Nok, Pasak and Yonok – in the Chiang Saen district of Chiang Rai.

Trin said the project incorporates five key features: synergy, involving collaboration with the public sector and local communities; economic drive, under which GDP will be boosted and jobs created through the development of industry and service businesses; ecology, with a focus on environmental protection; innovation, to be applied in architectural, engineering and environmental areas; and smart tourism, under which visitors will be lured by world-class standards in terms of location, expertise and cultural exchange.

The site will be divided into several zones including those with 5-star to 7-star rated holiday facilities, and with what Trin calls a world-class health centre, condominiums, a premium shopping complex, souvenir shops, an international convention centre and community and local product (OTOP) stores.

“In addition, there will be areas set aside for agricultural, cultural, and medical tourism facilities,” Trin said. “Utilising innovative and modern design, along with the latest construction technology, the main concept of Trin Nakara Golden Triangle will focus on convenience and individuality while still retaining the originality and traditional culture of the local environment.

“An emphasis on preserving the natural habitat and the beauty of surroundings will be a main feature of the design concept. Project development and construction management will be spearheaded by SPAN Consultants Co., Ltd.

The company has extensive experience in the development, planning, and construction of projects in Thailand.”

He said the project is expected to create over 10,000 jobs, including those for labourers through to service professionals and industry experts.

Trin points to Chiang Saen as having high potential in various aspects as the government has designated Chiang Rai province as a special economic development zones of phase two development.

“Chiang Saen is at the border of three cultural areas of Thailand, Myanmar and Laos, enriched with a variety of tribal cultures,” he said.

“Situated along the Mekong River, Chiang Saen is well-known for its natural beauty, rich traditions and cultural heritage, and friendly local people. Chiang Saen was actually the location of the ancient Yonok kingdom, so it has unique attributes with historical sites and cultural heritage. As a relatively new tourist city, Chiang Saen significantly attracts foreign investment.”

Chiang Saen will also the see the construction of the world’s tallest flagpole, at 189 metres. It will proudly fly a Thai flag 60 metres wide by 40 metres, which will be visible from 20 kilometres away.

The flagpole will be built by Trident Support LLC from the United States, which has built seven flagpoles around the world that have broken records for height.

The Chiang Saen flagpole will be recorded in the Guinness World Records as the world’s tallest flagpole. In this way it will be boost tourism in the Chiang Saen area and broader Chiang Rai region. It will take about a year to build.

The mixed-use property is due to be fully operational by December 2021 and is set to bring Delta’s philosophy to Phuket’s sophisticated resort and property development scene, targeting both international tourists.

Delta Hotels by Marriott Mai Khao Phuket Resort and Residences will comprise a 179-room hotel, and 58 pool-villa beachfront condominiums with views of the Andaman Sea.

A 10-minute drive from Phuket International Airport, the 14 rai site features 200 metres of beach and a large natural lake.

Pongphan Sampawakoop, chairman of Apex Development, said: “This project on Mai Khao Beach will be the first Delta Hotels by Marriott-branded hotel in Southeast Asia. With the Delta Hotels by Marriott brand, we are looking forward to welcoming international business and leisure travellers and savvy resort home buyers to one of Thailand’s most exciting resort destinations.”

It will also work with US based-Trident Support to construct the world’s tallest free-standing flagpole at 189 metres.

The flagpole will be recorded in the Guinness World Records, the firm said.

Trin Nilprasert, CEO of Trin Innovation, said: “Chiang Saen has high potential in various aspects as the government has designated Chiang Rai province to be one of the special economic development zones.

“Moreover, Chiang Rai has executed a development plan under the concept of Tourism Innovation Thailand 4.0, aiming to transform Chiang Rai into “the city of commerce, investment, agriculture and tourism, enriched with Lanna culture and enabling happy living”. We see unique opportunities as Chiang Saen has a strategic significance,” Trin said.

“It is bordered by Myanmar and Laos in the region known as the golden triangle in the north-south economic corridor, where several development projects will be implemented, including infrastructure from southern China to Thailand, Myanmar and Laos.

“As three districts of Chiang Rai have been designated to be special economic zones, the government will prepare infrastructure for international transport and logistics, and offer benefits in investment, finance and customs,” Trin said.

“On the Mekong, Chiang Saen is well known for its natural beauty, rich traditions, cultural heritage and friendly people. Chiang Saen was the location of the Yonok kingdom, so it has historical sites and cultural heritage.

“Trin Nakara Golden Triangle has interested investors from Malaysia, Singapore, Japan, Hong Kong, the United States and China. With more than Bt40 billion investment, it covers three sub-districts – Wiang-Nok, Pasak and Yonok.”

Trin said the project would include hotels, a health centre, condominiums, a mall, souvenir shops and an international convention centre.

According to the JLL report, “The Growing Influence of Proptech” China has the most market potential in Asia.

The term “proptech” refers to the use of technology as a solution to challenges in the real estate sector. It has witnessed rapid adoption around the world, but most particularly in Asia Pacific.

Released early this year, the JLL report found that the 179 proptech startups in Asia Pacific had raised US$4.8 billion (Bt160 billion) of the US$7.8 billion (Bt255 billion) invested globally from 2013 to 2017. These flows can only increase to match the growing demand for property in Asia Pacific, the study reported.

China and India are the two most dynamic markets for proptech across the region, but other regions including Southeast Asia, Northeast Asia, and Australasia, are catching up rapidly.

Despite Mainland China having only 23 of the 179 proptech startups in Asia Pacific, it received nearly 60 per cent of Asia Pacific’s proptech funding between 2012 and June 2017.

Of the top 10 funded proptech companies globally between 2011 and 2015, the top two were Chinese: Fangdd, a real estate platform connecting property sellers to home buyers, and Aiwujiwu, a Chinese rental and second-home listings portal.

India has the largest number of funded proptech startups at 77.

Brokerage and leasing dominates India’s proptech scene. It is estimated that the country’s middle class make up almost half of its total population, and are among the highest-consuming middle class groups in the world.

India’s housing.com, a real estate search portal, placed No 6 in a list of the world’s top 10 funded proptech companies.

Singapore also is fast becoming the regional HQ for tech startups, the report said.

Branded the “smart nation”, Singapore was recently awarded top ranking in Asia in JLL’s “Global Real Estate Transparency Index”.

“The proptech sector is growing fast, especially in Asia, though adoption is still relatively low compared to North America and Europe,” noted the index.

South Korea is also mentioned there as a proptech laggard, with one of the main causes being identified as a failure to “connect the dots” on how proptech can help in the drive for better buildings and better cities.

South Korea is just starting to understand the global “smart and sustainable city” trends, and is expected to become a stronger player in the proptech space.

Asia currently has 12 companies seen as being among the world’s most notable proptech companies.

Five of the 12 are from China, including Qfang with annual sales of over US$32 billion a year; Anjuke, Mofang Gongyu with $500 million raised in disclosed funding so far; FangDD with $312.1 million in disclosed funding; and Lianjia with US$1 billion in disclosed funding.

Malaysia has two in the top 12: iProperty.com, and Common Ground, with the latter having raised $20 million in a funding round earlier this year. Singapore has PropertyGuru Group, which has raised $175 million in disclosed funding so far.

Philippines has one proptech, Revolution Precrafted, which has bagged contracts worth over $7 billion in different international markets.

HomeLane in India has raised $68 million in disclosed funding.

EV Hive is an Indonesia proptech with $24.3 million in disclosed funding so far.

Finally, Campfire Collaborative Spaces in Hong Kong has so far raised $24 million in disclosed funding.

Property firms have since 2017 launched joint ventures with venture capitalists to develop “proptech”.

Sansiri Plc and Ananda Development Plc were the first two local property firms to introduce proptech venture capital to expand their investment in startups, as they sought their own technologies to serve customer demand.

Other property firms then launched a new business model, expanding their investments in startups to develop innovations that serve their business. Though companies call use various labels for the new approach, the main idea is develop applications that provide additional services to serve their customer’s demands. The services are offered to their customers after the residential projects are transferred to them. This also creates a source of recurring income for the property firms.

“We believe in technology that changes the way to do our business,” said Sansiri Plc’s president Srettha Thavisin in an earlier interview with The Nation. “Although the main factor in being a property developer is to develop quality residential for our customers, we also have to provide more after-sale services for our customers. [That’s ] because their residence is not only a building, it is our customer’s life.”

With the digital disruption of all business sectors, Srettha believed saw the potential to use digital in its business by creating a new business model. It would use digital to facilitate its buildings, and in the process differentiate the company from other property firms in its market.

Thus Sansiri Ventures Co Ltd, a joint venture firm between Sansiri Plc and Siam Commercial Bank, was established in 2017 to expand investment in startup businesses in order to develop technology to serve the property industry.

Since then, Siri Ventures Co Ltd has invested Bt300 million in startup businesses in both Thailand and overseas, and plans to spend another Bt600 million in 2019. This is apart of its three-year plan to invest Bt1.5 billion between 2017 and 2020.

Jirapat Janjerrdsak, chief technology officer at Siri Ventures, says the company plans to invest the Bt600 million in six startups next year. The firm will also explore a new Asean ecosystem partnership targeting Singapore by optimising local engagement in order to create sustainable partnerships.

The firm will set up the Siri Ventures Private PropTech Sandbox in order to provide various aids, including mentorship and insight from various business units, grants, lab rooms, networking opportunities and smart devices. It will also provide a co-working space to support startups in the areas of PropTech, living tech, ConTech, health and wellness tech and sustainability next year.

The firm moreover will utilise technology and develop innovations and solutions to support good health and well-being designed for an ageing society, green energy, sustainable cities and communities, and climate action. The aim is to create benefits for Sansiri’s customers and investors.

For its part, Ananda Development Plc has created Ananda Urban Tech to expand its investment in startups and innovative businesses. Chanond Ruangkritya, the company’s CEO, believes that the next step for a property developer is as a service provider, finding the services that match with customer demand and meet the needs of different lifestyles.

“Technological advancement will gather speed in the next five to 10 years, and will play a greater role in revolutionsing many aspects of the property industry from the construction process to the enhancement of urban living,” said Chanond.

“The company will keep adjusting to keep pace with technological disruption.”

Last year, Ananda announced a plan to become an UrbanTech company as part of its strategy to deliver urban living solutions to customers, he said in an earlier interview. It has also partnered with promising tech startups to provide innovative services to its condominium customers.

Meanwhile, Origin Property Plc has also set up Primo Service Solution Co Ltd, an arm for investment and collaborate with startup as the company develops its “digital butler service” and others applications, along with artificial intelligence to serve its customers. It also wants to provide the service to other property firms.

“We believe in innovations and technology that will change the business model of property firms from property development to providing services offering smart living solutions,” said Origin’s chief executive Peerapong Jaroon-Ek in a recent interview with The Nation.

“Investment in technology – that is the way to create our differentiation from other property firms in the market.”

SC Asset Corporation has established a new investment arm for startups and technology. Called SC Urban Co Ltd, it has invested in Fixzy Co, a startup firm that provides home renovation and repair services through the “Fixzy” application.

“Our business strategy is to be the living-solution provider,” said SC Asset’s CEO, Nuttaphong Kunakornwong, recently. “As a result, we established a proptech firm, SC Urban Co Ltd, for investments or joint ventures with startups to develop technology and applications to service our customers after they have bought our residential projects.”

Like Peerapong at Origin, Nuttaphong sees technology as the means to create services that differentiate the company from its competitors.

“We will also l allocate a 1,500-square-metre space on the 14th floor of Shinawatra Tower Three as a co-working centre for application development and big-data management, aimed at creating innovative products to meet the demands of homebuyers,” Nuttaphong said. The co-working centre will open in the first half of next year.

He added that SC’s business landscape would change to ensure sustainable growth, and investments in research and development and innovations and technology would drive that change.

“SC will become a ‘living solutions provider’ to blend innovations with our residential projects in response to the evolving lifestyle of residents now and in the future.”

Anthony Couse, CEO of JLL Asia Pacific, noted that though real-estate had been viewed as a traditional business, the time was right to embrace technology, digitisation and collaboration.

“We’re taking an agile approach to technology that will allow us to meet our clients’ needs today while preparing for the opportunities of tomorrow,” he said.

“We believe in big corporations being part of the larger tech ecosystem, engaging with the startup scene and academic researchers, and learning from entrepreneurs and innovators,” said Couse.

“Proptech is an opportunity for us all to work together, and that’s really exciting.” Proptech has been described as a burgeoning new sector whereby technology solutions are used to solve real-estate problems.

Meanwhile, developers will concentrate on ‘mixed-use’ projects, and incorporate smart home technology to enhance user experiences in response to current real estate industry trends.

In Bangkok, Chatuchak, Suanluang and Phyathai are identified as high growth areas, in addition, Pom Prap Sattru Phai and Bangkae both benefit from the extension of the MRT’s Blue line that had resulted in land prices increased by over 36 per cent.

Kamolpat Swaengkit, country manager for DDproperty, said: “We will start to see new properties equipped with technology and innovations entering the market.

“Simultaneously, in response to Thailand’s ageing society, there will be more development projects focused on the elderly population. Plus, as a result of skyrocketing land prices in the central business districts, developers will protect their assets with mixed-use developments that can sustain investment yields. This includes several joint venture projects that are a success since the partners can complement each other with their individual strengths.

“Recently, we started to see several property projects in Thailand having been developed with smart home credentials by integrating new technology into the electrics or even to control the temperature. With this evolving trend, today homebuyers not only consider the overall design and facilities, but they also take into consideration functionalities too in order to help enhance life,” Kamolpat added.

DDproperty says it constantly develops technology to meet the demands of buyers, investors, developers and agents, whether they intend to buy, sell or rent property.

Its website and mobile apps, leverage artificial intelligence (AI) to make every property search a highly personalised and intuitive experience. Underpinning this are machine learning algorithms, which have been trained to recognise behavioural cues to determine the kind of properties a user is looking for and the content they are likely to be interested in, it said.

The DDproperty predicts that the market in the first quarter of next year will be active ahead of the new the BoT’s loan policy becoming effective on April 1. This new policy impacts buyers buying an additional property who are repaying a mortgage for their first, plus those who purchase property over Bt10 million. Both categories of these purchasers will be required to pay a minimum deposit of between 10 and 30 per cent.

Despite these new home loan regulations, developers will remain their focus on upper-end to luxury projects in 2019 since this group of buyers still have strong purchasing power. Developers will continue to roll out mid-range and high-end projects priced at Bt8 million or above because the regulations are expected to have a small influence on consumers in these segments. In low-end segments, below Bt3 million, where the market has not fully recovered from the economic slowdown and high household debt, developers will continue to launch projects in sought-after locations and prefer to build more landed residential projects where real demand usually outnumbers speculative demand in order to align their expected sales with the BoT’s new home loan regulations.

Aside from the tightening of mortgage policies, the nation’s transport network infrastructure developments will be key in encouraging property development. For example, the Bang Sue Grand Station, mass transit developments and motorways that will all facilitate access to Bangkok’s suburban areas, neighbouring provinces and the Eastern Economic Corridor (EEC).

Lastly, another important factor to consider is the general election which is expected in late February. Demand and supply are predicted to decline during this period as concerns have been raised about political unrest, in addition to new government policies. Nonetheless, the declines are expected to be short-term.