Thai Developer Ananda Pivots to Ultra-Rich After Porsche Tie-Up

As Thailand’s housing boom cools, Ananda Development Pcl is moving upmarket — striking a deal with Porsche and eyeing new projects in Tokyo and Shanghai to tap Asia’s growing pool of ultra-rich buyers.

The Bangkok-based firm is in discussions with several global luxury brands to secure master franchises across Asia — its top priority, Chief Executive Officer Chanond Ruangkritya said in an interview on Wednesday. It is also exploring fundraising opportunities with foreign sovereign wealth funds to support its regional ambitions.