With growth in its core real estate business tied to the country’s economic growth, the company is targeting a larger international presence and a bigger lifestyle play to fulfil its ambitions of becoming a global brand.
“We looked for partners that can help Sansiri grow further, partners that we could learn from in terms of hospitality, lifestyle, technology, innovation, and even in terms of new target audience,” says Sansiri president Srettha Thavisin.
“Importantly, all six investments are in high-growth sectors in global markets which offer new sources of revenue beyond Thailand.”
Of the announced $80-million investment, around $58 million will go towards US-based boutique hotel chain Standard International and its mobile booking application, One Night. The remaining is earmarked for Tyler Brûlé’s lifestyle magazine Monocle, London’s Airbnb management firm Hostmaker, Asia’s co-working space JustCo and smart indoor farm technology firm Farmshelf.
Do these investments mean a shift away from real estate for the Thai realty firm?
Thavisin says Sansiri’s core business…