List Sotheby’s International Realty, a global real estate brokerage services provider, today announced to expand its footprint in Thailand by setting up List Sotheby’s International Realty (Thailand) to capture the luxury market. It targets to have the inventory up to 570 million baht in the first year and increase to 6 billion baht within three years.

Mr. Hirashi Kitami, Founder, CEO & President, List Sotheby’s International Realty said List opened its doors in Yokohama, Japan in 1991, and in less than 20 years, we became a major player. And we were selected by Sotheby’s International Realty as their partner in Japan. So, in 2010, we became List Sotheby’s International Realty. Since then, we started expanding our business globally.  It currently has 10 offices in Japan, two offices in Hawaii, and one office each in the Philippines, Singapore, Hong Kong and Thailand. The next destinations it is planning to expand its foothold are Vietnam and Indonesia then there are total 8 countries for List Sotheby’s International Realty.

Mr. Quang Do Board of Director to List Sotheby’s International Realty, Thailand said the company makes this joint venture with Japan because it sees the potential and trusts in the Sotheby’s brand, which is globally well-known and has a strong base of super luxury customers. This will help Thai entrepreneurs to have a chance to penetrate the world-class customers base and promote Thai property brands to be recognized more in the global market.

List Sotheby’s International Realty has appointed Miss Shanya Sea-Tia, who has experiences in Thai property for over 23 years, as Chief Operating Officer (COO). Her main mission is to promote the brand of List Sotheby’s International Realty (Thailand) among luxury customers and to be another key person who supports the penetration of the ASEAN market.

Miss Shanya Sea Tia, COO of List Sotheby’s International Realty, Thailand.said List Sotheby’s International Realty (Thailand)’s core businesses are 1. Real Estate brokerage in Thailand 2. International Real Estate Brokerage, and 3. Sales Consultant and Project Management. The revenue in 2019 is targeted at 18 million baht. Of that, 50 percent will come from brokerage in Thailand and International brokerage,  the other 50 percent from project management ,Meanwhile, it projects the revenue in the third year of operation will hit 180 million baht.

The main target groups of List Sotheby’s International Realty products and customers are in luxury, super luxury segments. In the first year, it targets 70 percent of its customers are Thai and 30 percent are foreigners from Europe, Hong Kong and Singapore. In the first year, it plans to have the inventory of properties worth 570 million baht and it currently has the inventory of around 200 million baht in hand, which are from leading develpers. It targets the inventory will surge to 6 billion baht in the next two years.

For luxury properties, we’ve found that after the projects are launched for a while, around 10 per cent of each project will be available, which we plan to manage for the developers. The target customers proportion remains 70:30 between Thai clients and foreigners but it plans to increase foreign customers continuously. Moreover, it plans to expand its operation in tourism spots within three years.