Japan’s Tokyu Corporation remains committed to investment in Thailand, underscoring its focus on long-term urban development despite the country’s sluggish economic growth and ongoing political uncertainty.
Takashi Yasue, general manager of Tokyu Corporation, a major conglomerate active in Thailand’s property sector, said Bangkok’s expansion has slowed outside the central business district (CBD), yet residential projects near the CBD continue to perform well and attract demand.
“If you choose the right project at the right time and price, there are still good opportunities in this market,” he said.
Mr Yasue said Tokyu’s strategy prioritises developing integrated urban complexes rather than isolated projects. By leveraging its extensive land holdings, the company can generate revenue across multiple dimensions of city development, an advantage smaller developers with limited land and resources often lack.
Tokyu collaborates with local property developers such as Sansiri and Saha Group on luxury residential and mixed-use developments in Bangkok and Si Racha, Chon Buri.
He acknowledged Thailand’s political climate can influence investment decisions but stressed that Tokyu’s relationships with local authorities remain strong.
“It affects us a little bit, but our cooperation and local relationships continue to develop well,” said Mr Yasue.
Despite global headwinds, including trade challenges affecting Thailand, Tokyu maintains a steady long-term outlook.
“We’re not doing a one-day or two-day business — we operate with a long-term view. There are always ups and downs, but we continue as usual. Nothing to be afraid of,” he said.
The company also emphasises sustainable development, incorporating solar power and recycling systems where feasible, while taking a cautious approach to newer technologies such as electric vehicles until they become more efficient and cost-effective.
While acknowledging the challenges, Mr Yasue expressed confidence in Thailand’s long-term potential, contingent on political stability and consistent policy direction.
“Real estate is a difficult business. It’s timing, location and future potential. But with stable politics and the right projects, Thailand still offers strong prospects,” he said.