According to Isetan Mistukoshi’s announcement, as part of its “second phase of a new overseas business model, we will collaborate with the TCC Group, which is involved in a number of real estate businesses mainly in Thailand, to develop a mixed-use office and retail business in Bangkok.”
On May 21, Isetan Mitsukoshi Holdings announced that the company and One Bangkok Company are jointly participating “in the office and retail business of One Bangkok”. One Bangkok is the largest mixed-use development project in central Bangkok, currently 80% held by TCC Assets. SGX-listed Frasers Property (SGX:TQ5
) (FPL) owns a tad under 20% of the project.
Isetan Mitsukoshi says: “We are pleased to announce that the joint venture agreement was signed on April 5, 2024, and the signing ceremony was held in Bangkok, Thailand on May 17, 2024.”
