Connect with us
CGIF-10th-Year-Anniversary

Business

Thai listed property developer Sansiri invests $80m in six global startups

Srettha Thavisin, president of Sansiri Pcl, said that the company’s investments will focus on three key activities, which include strategic investment in global lifestyle brands; developing property technologies in partnership with industry disruptors

Avatar

Published

on

Thai listed property developer Sansiri Pcl announced an investment of $80 million across six global technology and lifestyle companies as part of a bid to expand beyond real estate development and into the global market.

Of this, Sansiri will invest about $58 million in US-based boutique hotel chain Standard International and its mobile booking application, One Night. The Thai firm will hold a 35 per cent stake in the hospitality firm.  

The remaining include a $3.1-million stake in Tyler Brûlé’s lifestyle magazine Monocle; $6.6 million in London’s Airbnb management firm Hostmaker; $12 million in Southeast Asia’s co-working space JustCo; and $300,000 in a smart indoor farm technology firm Farmshelf, according to a Financial Times report.

Srettha Thavisin, president of Sansiri Pcl, said that the company’s investments will focus on three key activities, which include strategic investment in global lifestyle brands; developing property technologies in partnership with industry disruptors; and enhancing influence and audience through premium lifestyle media.

“Our next chapter centres on anticipating and meeting evolving consumer needs by creating a world-class modern living platform. This involves taking Sansiri to the next level as a global brand, ensuring we are at the forefront of tech and innovation, transforming ourselves for the future, and creating a synergistic environment for our business to grow,” he said in the statement.

Kang Wan Sing, Founder and CEO of JustCo, said that the partnership with Sansiri will support JustCo to launch four co-working spaces in Bangkok. “We expect to have 20 co-working spaces across Asia-Pacific by 2018, giving Sansiri access to our 12,000 members,” he added.

 

The post Thailand’s Sansiri invests $80m in six global startups including Standard International, Monocle, JustCo appeared first on DealStreetAsia.

Source link

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

Comments

Business

What’s wrong with Thailand?

Five ambassadors urged to open up Thailand to foreign skilled labour, cut red tape on foreign investment to allow Thailand to move in the top 10 of the World’s Bank’s ease of doing business index

Bahar Karaman

Published

on

Thailand has made very impressive gains in recent years in the World Bank’s Ease of Doing Business index, moving from 46th to 26th to 21st position in recent years.

(more…)

Continue Reading

Business

Thailand BOI Approves New electric vehicles (EV) Package

The new promotional package, which replaces the first EV package which expired in 2018, covers a comprehensive range of electrical vehicles, namely passenger cars, buses, trucks, motorcycles, tricycles, and ships.

Avatar

Published

on

By

The Thailand Board of Investment (BOI) today approved the roll out of a comprehensive set of incentives covering all major aspects of the electric vehicles (EV) supply chain, with a focus on battery electric vehicles (BEVs), local production of critical parts, and the inclusion of commercial vehicles of all sizes as well as ships.

(more…)

Continue Reading

Business

Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

Avatar

Published

on

Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

(more…)

Continue Reading

Cart

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,191 other subscribers

Trending