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AIRA : ‘AIRA Property’ Celebrates a Decade of Success, Announces ‘Next ERA’ Strategy, Highlighting a 4-Dimensional Approach to Drive Business Forward, Aiming to Become a Leading Real Estate Developer, While Partnering with Global Partner “Hilton” to Strengthen a Sustainable Recurring Income Portfolio
AIRA Property Public Company Limited, the flagship real estate company of the AIRA Capital Group, has announced achievements on the occasion of 10th anniversary, highlighting standout Masterpiece project — Spring Tower — which currently boasts a 93% occupancy rate. The company also unveiled "Next ERA" strategic plan, a 4-dimensional business approach encompassing "Economic Development, Social and Community Development, Cultural Promotion, and Sustainability", with the goal of becoming the country's leading real estate developer and driving sustainable urban transformation. Most recently, the company has partnered with global hotel chain "Hilton" to manage the major project DoubleTree by Hilton Bangkok Silom.
Mr. Prasert Boonsamphun, Chairman of AIRA Capital Public Company Limited (AIRA), stated that on the occasion of AIRA Property Public Company Limited's 10th anniversary in business, the company has demonstrated commitment and discipline in operations, successfully developing premium office buildings and hotel projects in the Central Business District (CBD). This success reflects the capability of the management team and all personnel who have collectively built a strong foundation for the organization. AIRA Capital, as the parent company, is fully supportive of AIRA Property's move into the "Next ERA," ensuring continued stable growth under good corporate governance and prudent risk management.
Mrs. Nalinee Ngamsetthamat, Chief Executive Officer of AIRA Capital Public Company Limited (AIRA), said that the company operates as an Investment Holding Company with a strong business structure divided into two main groups: the comprehensive financial and investment business group — including securities and investment banking, which serves as a key foundation for generating revenue from financial services — and the real estate business group, with AIRA Property as the Flagship for developing and managing premium office buildings and hotel projects, focusing on commercial real estate to generate Recurring Income.
As AIRA Property enters a new decade, ambition is to elevate itself to become a leading real estate developer and manager in the country, driving sustainable urban transformation through 3 core strategies: 1) Strategic Recurring Income — focusing on investing in assets that generate stable recurring income and continuous cash flow, including Grade A office buildings and the development of an Upscale hotel project in the heart of Silom that is environmentally friendly; 2) Asset Light & Synergy Growth Model — leveraging the AIRA Group's financial expertise to expand the real estate business in collaboration with leading business partners, and planning to establish a Real Estate Investment Trust (REIT) to facilitate new investments; and 3) IPO Preparation — planning to list "AIRA Property" on the stock exchange in the future to build a strong capital base.
Mr. Janewit Rungkijvorasathian, Chief Executive Officer of AIRA Property Public Company Limited, stated that the company operates under the concept: "We aren't just building structures, we are building lasting value." By integrating innovation with international environmental standards to develop eco-friendly real estate projects, the company aims to manage high-quality assets to generate recurring income. The success of the Spring Tower project — a Grade A office building at the Ratchathewi intersection, LEED Gold Certified — with a current occupancy rate of 93%, demonstrates this vision. The company plans to add a Fitness Center to enhance the building's offering as a Workplace Well-being facility, improve quality of life, and cater to modern lifestyles, including adapting spaces to meet modern tenants' needs such as EV Charging Stations. The company will also continuously modernize the building and its functions, adding value through an Asset Enhancement strategy to elevate Spring Tower and deliver stable returns.
The company has mapped out a strategy to build on its success and move into the "Next ERA" to create sustainable value through a 4-dimensional approach: 1) Economic Development, 2) Social and Community Development, 3) Cultural Promotion — supporting Thai artists and unique Thai-style services, and 4) Sustainability (ESG and sustainability). The business will be driven by the development of an Upscale hotel project in a prime location in the heart of Bangkok's CBD. The company is currently developing and submitting an Environmental Impact Assessment (EIA) report for the construction of a 29-story, 303-room Upscale hotel in the Silom area, valued at 2.3 billion baht, designed as a Green Building meeting LEED Hospitality standards. Most recently, the company has partnered with Hilton, the world-class hotel brand owner, under the name "DoubleTree by Hilton Bangkok Silom", to enhance its competitive capability. Construction is expected to begin in 2026 and be completed by 2029, with fundraising through stock exchange listing and the establishment of a REIT to strengthen investment potential.
Ms. Maria Ariizumi, Vice President, Development, South East Asia, Hilton, stated that upon its official opening, she is confident that DoubleTree by Hilton Bangkok Silom will deliver an elevated experience in one of Bangkok's most prestigious business and lifestyle districts. The hotel will be grounded in Hilton's world-class hospitality expertise, built and proven over more than a century, alongside a brand-centric, network-driven strategy that fully leverages the platform's capabilities. She expressed excitement about closely collaborating with AIRA Property to deliver the award-worthy brand experience of DoubleTree by Hilton and to forge a strong and enduring long-term partnership.