Renoveru Launches Asian Expansion: Establishes New Entities in Singapore and Thailand, Breaks Ground on First Resale Project in Bangkok

Renoveru Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director: Tomohiro Yamashita; hereinafter "Renoveru"), which operates a renovation platform promoting the distribution and utilization of real estate stock, has established a Singapore subsidiary, "RENOVERU GLOBAL PTE. LTD." (hereinafter "Renoveru Global"), to serve as a hub for its Asian expansion. Furthermore, it has established a Thai subsidiary, "RENOVERU (THAILAND) CO., LTD." (hereinafter "Renoveru Thailand"), as an affiliate of Renoveru Global. The company has also commenced renovation work on its first project in Bangkok.

Background of Entry into the Thai Market: Population Peak and Structural Market Changes

Thailand is currently in a transitional period of structural change, with its population peaking and beginning to decline, leading to a shrinking new condominium market. In Bangkok's central business district (CBD), prices for new condominiums are soaring and unit sizes are shrinking. In contrast, resale condominium units offer attractive potential, being more affordable while providing better locations and more spacious living areas. However, compared to Japan, the Thai resale condominium market lacks established standards for renovation and valuation during transactions, preventing the formation of an environment where buyers can "safely choose a resale property." Over 15 years in Japan, Renoveru has completed renovations on over 8,000 units, challenging the conventional wisdom that "old buildings equal cheap" and pioneering a culture of value regeneration through renovation, as well as the resale apartment market. By leveraging this track record and expertise in value regeneration from Japan, Renoveru aims to create a new market in Thailand where resale condominiums can be distributed more safely and securely.

About the Start of the First Resale Project

In collaboration with a Japanese investor based in Singapore, Renoveru began renovation work in June 2026 on its first buy-and-resell project in Bangkok. The property is a 166-square-meter unit in a 28-year-old resale condominium located in the Sukhumvit area of central Bangkok. The plan involves a complete skeleton renovation, demolishing all interior finishes and significantly altering the floor plan to suit modern lifestyles, thereby maximizing the property's value. The project is scheduled for completion in October.

Future Development and Building a Partner Network

In response to growing investment demand focused on the potential of the Thai resale condominium market, Renoveru will promote the construction of a partner network including local construction partners, real estate partners for property sourcing and sales, and real estate investment players. Furthermore, based on preliminary marketing surveys that have confirmed local demand for renovation, the company plans to explore offering condominium renovation services in Bangkok and its one-stop service for "resale condominium purchase + renovation," which holds the No. 1 track record in Japan. Additionally, Renoveru is actively building collaborative frameworks with local real estate players and construction companies in Singapore. Through collaboration with business partners, the company aims to export Japanese-quality resale condominium distribution and renovation, spreading the culture of stock utilization and renovation throughout Asia, starting from Singapore and Thailand.