The doors to the Thai office of List Sotheby’s International Realty (List SIR) opened on 25 September to great fanfare.
In the early afternoon, a media conference was held, where Mr Hisashi Kitami, Founder, CEO & President of List SIR, shared his vision for the company as a group as well as for each of the offices. Indeed, the List Group has certainly come a long way since Mr Kitami founded the company in 1991 and also started List Sotheby’s International Realty in 2010.
With the Thailand office now officially opened, there are sixteen List SIR offices in total – 10 offices in Japan, two in Hawaii, and one each in the Philippines, Singapore, Hong Kong and Thailand. The company’s expansion will continue to progress, and there are already plans to open up offices in Indonesia and Vietnam in 2019.
Ms Shanya Sae-Tia, Chief Operating Officer of List SIR, Thailand, is a veteran in Thai property with over two decades of experience. Speaking at the media conference, she said that her main mission now would be to promote the List Sotheby’s International Realty brand among luxury customers and to support the company’s growth in the ASEAN market. She added that the Thailand office’s core businesses are:
- Real estate brokerage in Thailand
- International real estate brokerage, and
- Sales consultant and project management for developers.
Besides Mr Kitami, Ms Sae-Tia and Mr Yasushi Yamada, Chief Operating Officer of List Holdings Singapore and Head of Asia Region, List Group, there was another special guest present at the media conference. The media were introduced to Mr Quang Do, who sits on List SIR Thailand’s Board of Directors. Mr Quang Do’s company, Weng Group, entered into the joint venture with List Holdings Singapore because he sees the potential in the List SIR brand and also the trust that consumers already have for the Sotheby’s brand with its 200-year heritage. Mr Quang Do felt that the global recognition of the Sotheby’s brand also means that it already has a strong base of luxury clientele which will help the Thai office to promote the best property brands in Thailand to them.
After the media conference, a celebratory party was held in the evening at the luxurious Gaysorn Tower, where the List SIR Thai office is also located. More than 100 guests turned up to witness the official launch. The evening started with a traditional Thai puppet show before senior management, including Mr Kitami and Mr Quang Do, took to the stage to address the guests and launch the brand.
Established in 2018 with a registered capital of 108 million baht, the List SIR Thai office has targeted a revenue of 18 million baht for the year 2019. Of that, 50 percent of revenue is expected to come from brokerage services, both local and international, while the other 50 percent will likely come from project management. The company also projects that revenue in the third year of operations will hit 180 million baht.
During its first year, the company is predicting that 70 per cent of its customers will be domestic clients, with the remaining 30 per cent being foreigners from Europe, Hong Kong and Singapore.
Currently, the Thai office has already secured an inventory of around 200 million baht, and intends to grow that inventory to 570 million baht before reaching 6 billion baht in the third year.