The move reflects Property Perfect’s “perfect smart city” concept, which has capitalised on the advanced digital technology to enhance its customers’ living quality.

Property Perfect managing director Wongsakorn Prasitvipat said at the partnership announcement yesterday that among the smart solutions being offered are those for smart energy saving, such as smart street lighting; smart security, such as smart tracking and facial recognition; and smart transport, such as smart shuttle services and smart bikes. Others initiatives include the provision of smart appliances.

AIS chief enterprise business officer Yongsit Rojsrikul said that AIS has deployed its narrow- band Internet of Things (NB-IoT) network, plus related equipment and digital platforms, to support the project.

AIS finished rolling out its nationwide narrow-band IOT network early this year. The telecommunications operator has ambitions for the network to become the backbone of the country’s development and to support all industries.

Yongsit added that AIS is also in talks with other property developers for a possible similar partnership. The company has around 70 projects in the pipeline that involve partnerships with many parties, across a range of industries, for the use of its IoT network to enhance their operations or to jointly provide innovative services.

Under the Property Perfect partnership, the smart street lighting system is equipped with closed-circuit TVs and solar panels. It has already been installed at the real estate developer’s Perfect Place Sukhumvit 77-Suvarnabhumi housing project. At the same project, a smart tracking card system will be piloted; it will track the whereabouts of people who visit the residents.

Property Perfect has installed the facial recognition system at its Metro Luxe Phaholyothin, Metro Luxe Ratchada, and Metro Sky Wutthakat high-end condominiums.

For appliances, the company has joined with Samsung, South Korea’s biggest consumer electronics producer, to pilot the use of innovations such as a smart washing machine and a smart vacuum cleaner at its Metro Luxe Kaset, Metro Luxe Ratchada, Metro Luxe Phaholyothin and Metro Luxe Riverfront projects.

Mobike’s head of international operations, Mark Lin, said that Mobike intends to provide its smart bikes at all of Property Perfect’s housing and condominium projects.

Under the partnership announced yesterday, the China-based company has provided its smart bike services at Property Perfect’s housing projects in Bangkok’s eastern zone: Perfect Place Ramkhamhaeng, Perfect Masterpiece Ramkhamhaeng, Perfect Place Sukhumvit 77, Perfect Masterpiece Sukhumvit 77, and Perfect Park Suvarnabhumi.

 With a total of 575 units, construction of the project will be completednext year , the company’s chief executive officer Opas Sripayak said yesterday.

“We have put on sales 80 per cent of total project, with the balance to go on sales soon,” he said.

Somsakul Limsuttaphan, Plus Property deputy managing director/asset management said that the company is fostering an alliance with Refinn, the market-leading fintech Startup, to provide mortgages for second-hand properties purchased by customers of Plus Property.

The move is aimed at offering customers a new choice via a service that would enable them to visit just one place to acquire both a property and the matching mortgage.

The US$310-million (nearly Bt10 billion) acquisition is part of the listed company’s strategic investment approach, “SMART Mergers and Acquisitions” (SMART M&A), which focuses on high-return asset investment emphasising fast-growing prospects in tourist destinations around the globe.

The corporate has also emphasised augmenting development in brand-building, customer experience and promoting sustainability of the surrounding community and environment.

The acquisition also accelerates the strategic intention of S Hotels & Resorts, a subsidiary of Singha Estate, to conduct an initial public offering aimed for 2019, whereby S Hotels & Resorts will become a full-fledged global holding company.

“Singha Estate’s business direction aims to become a ‘premier property development and investment holding company’ generating revenue of Bt20 billion by 2020. This strategic investment and acquisition of Outrigger-branded hotels in four countries will generate recurring income and further diversify the company’s profile and geographical location of high-yield tourist destinations,” said chief executive officer Naris Cheyklin.

Singha Estate’s strategic approach of SMART M&A has generated asset growth from Bt11.2 billion in 2014 to Bt40.9 billion in 2017, he said.

Combined with a substantial investment in the visionary “CROSSROADS” project in the Maldives, Singha Estate’s total asset-growth effect will soon top Bt60 billion to yield its revenue target, he added.

“With Singha Estate’s esteemed reputation as outstanding stewards of the properties and places in which it invests, Outrigger has full confidence that its premier resorts will continue in exceptional care. This asset sale and strategic partnership now provide new capital for further expansion, while retaining Outrigger’s brand presence and management of world-class properties,” said Jeff Wagoner, president and CEO, Outrigger Hotels and Resorts.

The new unit will have an investment budget of Bt20 billion through 2022, One Origin chief executive officer Kamonwan Wipulakorn said at a press conference on Monday.

The funding will come from its parent company and from Origin Property’s strategic partner, Japan-based Nomura Real Estate Development, while One Origin also plans to raise capital by setting up a real estate investment fund, she said.

It will also apply to be a listed company in the Stock Exchange of Thailand at a later date, the CEO added.

“We target that the assets from those investments will help create a market value of around Bt30 billion and also generate revenue of Bt10 billion over this five-year period. We should become one of the top five hotel and mixed-use property developers,” she said.

Initially, One Origin plans to develop 15 hotel and serviced-apartment projects with over 4,000 rooms combined within five years to serve both corporate and leisure clients, as well as 10 office and retail properties with combined space of at least 50,000 square metres, Kamonwan explained.

The new project will cater to the growing demands for residences and a quality city lifestyle, said the company’s chief executive officer Chanin Vanijwongse.

He said the location could attract buyers and investors who are looking at short- or long-term returns on investment. The project would be launched soon, he said.

The partnership also plans to tap economic zones in Thailand and Asean.

Shinwa Group, through its subsidiary Shinwa Real Estate (Thailand) Co Ltd, holds a 26 per cent stake in the joint venture, Pressance Corp holds 25 per cent, and the balance 49 per cent are controlled by Prebuilt Plc.

The project targets Thais who prefer a city lifestyle. REN Sukhumvit 39 will have a total of 298 units.

The agreement was signed by Assoc Professor Singh Intrachooto, RISC’s chief adviser, and Thitapha Smitinont, executive vice president at NSTDA, at the RISC’s headquarters in Magnolias Ratchadamri Boulevard, central Bangkok.

RISC is the intelligence arm of international property developer Magnolia Quality Development Corporation Limited.

“RISC and NSTDA share a commitment to developing technology that benefits humans and the planet – an approach we call ‘for all well-being’,” said Singh.

NSTDA’s Thitapha said the collaboration would accelerate the innovation cycle for new technology.

“Through RISC’s work for property developer MQDC, its researchers are adept in providing consumer insights and offering consumer benefits through new technologies for well-being and sustainability, such as indoor air quality monitoring systems or energy-efficiency awareness systems, etc,” she said.

The MoU has a projected scope of 5 years and is expected to lead to further agreements covering specific areas of collaboration, focusing on sustainability and well-being living solutions.

 Unit sales of the completed project will be booked to the company’s revenue from June 1 to the end of the third quarter this year, he said.