AIRA Property Public Company Limited, the flagship real estate company of AIRA Capital Group, celebrated the Company’s 10th anniversary by showcasing “Spring Tower” – the masterpiece project boasting an exceptional occupancy rate of 93 percent. At the same time, the Company also unveiled the “Next ERA” strategic plan, a four-dimensional approach to business development encompassing: Economic Development, Social and Community Development, Cultural Promotion, and Sustainability. The objective of this vital plan is for the Company to become one of Thailand’s leading real estate developers and to drive sustainable urban transformation. Most recently, AIRA Property Plc. is entering into a collaborative partnership with global hospitality company, Hilton, to manage the “DoubleTree by Hilton Bangkok Silom” hotel project.
Mr. Prasert Bunsumpun, Chairman, AIRA Capital Public Company Limited (AIRA), revealed that, on the occasion of AIRA Property Public Company Limited’s 10th anniversary, the Company has demonstrated throughout the past decade its commitment and discipline in the operations of its businesses. It has successfully developed high-quality office buildings and premium hotels in the CBDs (central business districts). This continuing success reflects the capabilities of the management team and all personnel who together have built a strong foundation for the organization. AIRA Capital Public Company Limited, as the parent company, is fully committed to support AIRA Property Public Company Limited’s journey towards the “Next ERA” to ensure continued stable growth under good corporate governance and prudent risk management regime.
Mrs. Nalinee Ngamsettamas, Chief Executive Officer, AIRA Capital Public Company Limited (AIRA), explained that AIRA operates as an “investment holding company” with a solid business structure separated into two main groups: 1) An integrated financial and investment business group, consisting of securities businesses and investment banking – a key foundation for revenue generation from financial services; and, 2) Real estate business group, with AIRA Property Public Company Limited as the flagship company tasked with the development and management of premium office buildings and hotels, with the main focus being commercial real estate projects that are capable of generating recurring income.
AIRA Property Public Company Limited is entering a new exciting decade with the objective of becoming one of Thailand’s leading real estate developers and the operator and driver of sustainable urban transformation. This ambition will be achieved through three pivotal strategies:
1.) Strategic Recurring Income – With the focus on investments in assets that generate stable recurring income and continuous cash flow. These include Grade A office buildings and upscale, environmentally friendly hotel projects in the heart of Silom.
2.) Asset-Light & Synergy Growth Model – To leverage AIRA Group’s financial expertise to expand the real estate business in collaboration with leading business partners along with the plan to establish a REIT (real estate investment trust) to explore new investment opportunities.
3.) Preparations for IPO (Initial Public Offering) – AIRA Property Plc. has in place a plan to be listed on the Stock Exchange of Thailand in the near future with the intention to build a strong capital base.
Mr. Jenwit Rungkijvorasathien, Chief Executive Officer, AIRA Property Public Company Limited, reiterated further that the Company operates under “We aren’t just building structures, we are building lasting value” concept. This is achieved through the integration of innovations with international environmental standards in the development of eco-friendly real estate projects. The Company focuses on operating and managing high-quality assets to generate recurring income. Past successes include the “Spring Tower” project, a Grade A office building near Ratchathewi intersection which is proudly “LEED Gold Certified”, and currently enjoys an occupancy rate of 93 percent. Plans are underway to add a fitness center to enhance the property’s comprehensive list of facilities and amenities, fostering workplace well-being, improving quality of life, and catering to the contemporary lifestyle. Even more so, the Company is modifying spaces in the property to meet the needs of modern tenants, such as the provision of EV charging stations, and continuously upgrading the building and its functions to increase its value under the “asset enhancement” strategy. All of which will serve to elevate the status of Spring Tower, and generating stable returns.
The Company is building on its success to create strategic “Next ERA” by focusing on sustainable values through four dimensions: 1) Economic development; 2) Social and community development; 3) Promoting Thai culture, Thai artists, and unique Thai services; and, 4) Sustainability (ESG – Environmental, Social, & Governance). At the same time, AIRA is all set to drive the development of upscale hotel projects in prime locations within Bangkok’s CBDs. Currently, the Company is in the process of developing, and preparing to submit an Environmental Impact Assessment (EIA) report for, a 29-story, 303-room upscale hotel in Silom district valued at 2.3 billion baht, with the hotel building having been designed as a “Green Building” with “Certified LEED Hospitality” standards. The most notable development is that the Company has partnered with global hospitality company, Hilton, for the management of “DoubleTree by Hilton Bangkok Silom” with the aim to enhance the property’s competitiveness. Construction of the new hotel is expected to begin within 2026 and will be completed in 2029. The Company is also on course to raise funds through an IPO on the Stock Exchange of Thailand and to establish a REIT to further enhance its investment capabilities.
Ms. Maria Ariizumi, Vice President, Development, South East Asia, Hilton, said that when open, we are confident that DoubleTree by Hilton Bangkok Silom will deliver more exceptional experiences in one of Bangkok’s most established business and lifestyle districts — anchored on Hilton’s global hospitality expertise built on more than a century of operations, and our focus on a brand‑centric, network‑driven and platform‑enabled strategy. We look forward to collaborating closely with AiRA Property to deliver the award-winning DoubleTree by Hilton experience and to building a strong, long‑term partnership.
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