From Landowner to Mega City Project Developer: Why Sahapat Group is Expanding Its Role in Real Estate - Thairath English
Many people recognize the name “Sahapat Group” through daily essential products used from waking up to going to sleep, such as Mama instant noodles, Farmhouse bread, Pao detergent, Shokubutsu body wash, Systema toothbrushes, or clothing brands like Wacoal and Arrow.
The legendary leader, Boonchit Chokwatana, Chairman of Sahapat Group, laid the foundation for a consumer goods empire worth hundreds of billions of baht.
Now, at age 88, Boonchit has stepped down from management, passing leadership to nine third-generation heirs who continue the business with the core value of "integrity," while branching out into food, health, and services sectors.
One of the most notable business moves is the full-scale entry into "mega city development and real estate," elevating the group from landholders to urban placemakers through two major strategies on two prime locations: the mixed-use kingdom along the Chao Phraya River in Rama 3 and a future city covering 700 rai in Sriracha district.
Thairath Money explores the thinking behind this and why this consumer goods conglomerate is ready to shake up the Thai real estate industry.
As mentioned, while Sahapat Group is known as an FMCG producer and distributor, it is in fact one of the investors holding a low-cost land bank in key locations for decades.
This means Sahapat is not a newcomer experimenting in real estate but has deep understanding of real estate mechanics and resident behavior. Especially in Sriracha, the company has developed properties with Japanese investors, such as the Japanese-style community mall J-Park Sriracha Nihon Mura, serviced apartments, and residential projects like HarmoniQ Residence catering to Japanese engineers and executives for over a decade.
However, this transition is driven by three main structural economic factors.
Looking at Sahapat’s urban development plans, each location is clearly designed to meet different spatial needs.
Starting with the Rama 3 kingdom, under the Urban Lifestyle and “Community of Kindness” concept, Sahapat is investing over 10 billion baht to create a sharing and supportive community, attracting affluent families through "leading education."
At the Sriracha project, Sahapat is adapting to the city’s transformation as the government upgrades the area from traditional industrial zones to the Eastern Economic Corridor (EEC), positioning Sriracha as a hub for investors, skilled talents, and foreign families.
Sahapat, together with Tokyu Corporation, is studying the feasibility of developing over 700 rai based on a 10-20 year master plan near the Sriracha Service Area, the largest highway service center in Thailand.
This move also reflects Sahapat Group’s relatively complete new business structure.
In summary, from starting as a small retail shop and minor consumer goods producer to becoming a national hundred-billion baht business accumulating large land holdings nationwide.
The third-generation heirs, guided by founder Boonchit Chokwatana’s compass, have made real estate a new milestone, transforming Sahapat from a “landowner” into a “creator of future cities” to truly drive Thailand’s long-term economic growth.
https://www.thairath.co.th/money/economics/thai_economics
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