The luxury real estate market in Thailand will become more competitive next month with news that a global organisation plans to open its first office in the kingdom.
Sotheby’s International Realty through its Japan-based affiliate The List Company has set its sights on Thailand and Southeast Asia.
It has announced plans to open its first office in Thailand during September 2018, with further plans for two new offices each for Indonesia and Vietnam next year.
The company already boasts two offices in Hawaii, ten offices in Japan and an office each in Hong Kong, the Philippines and Singapore.
List was founded in 1991 by its current Chief Executive Officer and President Hisashi Kitami, who was born and raised in Yokohama, Japan.
It claims to have developed and sold more than 7,000 condominiums and housing units in Japan.
Kitami is involved in sports and community organisations in Yokohama, including the Yokohama Baystars, a professional baseball team, and the Yokohama Mariners, a professional soccer team.
“The addition of Vietnam and Indonesia to the List Sotheby’s International Realty portfolio will further establish their foothold in Southeast Asia,” said Philip White, President and Chief Executive Officer of Sotheby’s International Realty Affiliates LLC.
“Hisashi and his team have a strong history of growth in the markets they serve, and we are proud to have them lead this venture.”
Sotheby’s International Realty claims to have more than 22,000 sales agents, with 950 offices in 70 countries and territories around the world. Each office is independently owned and operated.
During 2017 the brand recorded global sales of US$108 billion.