Page 60 - BTSGroup ONE REPORT 2021/22_EN

58 l Introduction l Nature of Business l Organisation and Shareholding Structure l Business Review l Corporate Governance l Financial Statements l Other Information l

Strategic Partnerships Property Business

Figure 1: Summary of property assets’ book value under BTS
Group and its associates

U City THB | 18.7bn*
31% Investment in associates
Total book *Equity adjusted from 45.9% holdings in U City
value as of
Commercial | THB 9.8bn
31 March 2022 Thana City Golf and Sports Club
59%
THB 31.4bn
Land bank | THB 2.5bn
8%
1% Residential | THB 0.5bn
House, Townhouse and Condominium

Over the years, BTS Group has invested and partnered with diversified leading
listed and non-listed companies to create mutual benefits as well as to capture Land Bank
future business opportunities. The Company together with its partners leveraged By virtue of the Group’s other infrastructure businesses, it often has insight into
off each other’s strengths towards the same goal to grow better together. land value and future trends. Historically it has capitalised on this information
We believe that our proprietary MOVE and MIX platforms, plus more insightful by purchasing land, either for future development by the Group, or future
data from our partners in different industries will unlock each other’s potential sale and has a demonstrated track record of delivering excellent returns.
value and bring more business synergies to uplift each other’s growth in the Typically, the investment and sale/development cycle is long (matching with the
future. longer development cycles of infrastructure developments). The Group and its
subsidiaries has subsequently built up an extensive land bank in Bangkok and
Key Sectors other provinces. The book value of the land bank was THB 2.5bn (representing
Our MATCH business also comprises the Company’s diversified property portfolio 8% of total book value) as of 31 March 2022. As illustrated in table 1, a total
such as its land bank and an investment in U City Public Company Limited (U City) land area owned by the Group was 516,561.6sqm.
and our other associates including a construction services company and F&B
business company.