SCX Corporation, under SC Asset, Partners with Japanese Real Estate Giant Tokyo Tatemono Thailand to Expand Hotel Joint Venture with “voco Bangkok Siam” Worth THB 2.2 Billion, Reinforcing Continued Strategic Collaboration
SCX Corporation, under SC Asset, is moving forward to strengthen its partnership with Tokyo Tatemono Thailand, a leading real estate partner from Japan, through a joint investment in the development of “voco Bangkok Siam,” a hotel project valued at THB 2.2 billion.
Located in a high-potential area opposite Siam Discovery, the project reinforces confidence from international investors following the two companies’ previous joint venture in two warehouse projects. It also supports SCX Corporation’s strategy as a Lifestyle Solution Provider, with the new hotel scheduled to open in 2029, further strengthening the SC Asset–Tokyo Tatemono Thailand group.
Mr. Nuttaphong Kunakornwong, Chief Executive Officer of SC Asset Corporation Public Company Limited, revealed that SCX Corporation, the company’s subsidiary responsible for recurring income businesses, has entered into a joint venture with Tokyo Tatemono Thailand, a subsidiary of Tokyo Tatemono Co., Ltd., to expand its investment into the hotel business through voco Bangkok Siam.
The THB 2.2 billion project is located opposite Siam Discovery and will become the fourth voco hotel in Thailand under IHG Hotels & Resorts.
“Amid economic volatility, having a strong partner is a critical factor for sustainable success. Tokyo Tatemono is an international partner that has continued to place confidence in SC’s vision and potential. This joint venture builds upon our previous collaboration in residential development and rental warehouses, extending into the hospitality sector. We are confident that this project will achieve success, as our past joint ventures have,”
Mr. Nuttaphong said.
voco Bangkok Siam will be a 29-storey Upscale Lifestyle hotel under the voco brand by IHG Hotels & Resorts. The hotel is designed to serve modern travelers who seek convenience, individuality, and inspiring spaces.
The project will comprise 350 guest rooms, along with a restaurant, bar, fitness center, rooftop swimming pool overlooking the Bangkok skyline, and meeting rooms for business travelers. Guests will also enjoy convenient access to Siam Paragon, Siam Square, MBK Center, and BTS Siam Station. The hotel is scheduled to open in 2029.
Mr. Fumio Tajima, Senior Executive of Tokyo Tatemono Co., Ltd., said that Tokyo Tatemono has continued to place importance on investment in Thailand’s real estate market, as the company sees long-term potential in tourism, infrastructure, and urban development. In particular, the company values collaboration with partners who understand the local market and share a similar project development vision.
“The joint investment with SCX Corporation in voco Bangkok Siam combines the strengths of both organizations, including consumer insight, quality-focused project development, and a long-term vision to create value for the city and its users. We believe this project will become another key milestone in the development of Upscale Lifestyle hotels and reflects investor confidence in SCX Corporation and Thailand’s hospitality market,”
Mr. Fumio said.
Previously, SC Asset Corporation Public Company Limited, the parent company of SCX Corporation, also announced an additional joint investment with Tokyo Tatemono Thailand in two newly launched condominium projects this year, with a combined project value of THB 20 billion.