Grand Canal Land Plc (GLAND) and Huawei Technologies (Thailand) Co have signed a memorandum of agreement (MoA) on a strategic partnership to develop a world-class smart city of the future and elevate Thailand's real estate sector to transition to the digital era of Thailand 4.0.
Under the partnership, GLAND and Huawei will develop smart offices and digital space, creating living and working spaces of the future, combining the physical and digital worlds and fully connecting ICT and the Internet of Things (IoT) with the real estate industry.
"Thailand is entering the era of a fully-digital society and the country will become a prominent digital hub of the Asean region. Under the government's Thailand 4.0 policy, Thailand will become a strategic market for foreign trade and investment," said Naparat Sriwanvit, chief executive of GLAND.
Ms Naparat said under the partnership with Huawei, GLAND will benefit from Huawei's know-how and expertise, which will help enhance GLAND's strengths and help create new innovations for GLAND's future mixed-use projects.
GLAND's land portfolio, the major stake of which is held by Central Pattana Plc, includes The Grand Rama 9, which spans 73 rai, and is ideally located in Bangkok's "new CBD" at the Rama 9-Ratchadaphisek intersection. The development comprises three office buildings for rent -- G Tower, The Ninth Tower and Unilever House.
The portfolio also includes the Belle Grand Rama 9 condominium. In addition, GLAND also has four land plots spanning 190 rai in total awaiting development, all of which are situated in high-potential locations in Bangkok, ready to support GLAND's long-term business growth.
"Huawei and GLAND have been working closely as partners for a long time -- ever since we officially started operating our business in Thailand in 1999," Chawapol Jariyawirot, president of Huawei Technologies (Thailand) Co said.
"We hope that the partnership between Huawei and GLAND will help enhance the smart transformation of Thailand's real estate sector, which is in line with Huawei's mission to facilitate digital transformation and to bring digital technologies to everyone, every home and every organisation in order to build a smart Thailand that is fully connected."