GA Takes First Steps in Thailand With Dear Life Deal

Japan’s GA Technologies has revealed its plans to acquire one of the largest house-hunting platforms catering to the Japanese market in Thailand.

The deal, in the form of a share exchange, will see the Tokyo-based company acquire full ownership of the property rental and leasing business of Bangkok-based Dear Life Corporation, which according to a statement has 12,000 users.

This will be GA’s first step in expanding its business into Southeast Asia, and one of its aims is to introduce real estate opportunities to more potential buyers.

A press release to announce the deal noted that both companies enjoy significant market shares in their respective markets.

Dear Life provides real estate and support services to Japanese residents and expats in Thailand. It also provides services to property owners to help them manage their properties.

Japanese nationals form one of the largest percentages of non-Thai nationals in the Kingdom. Thailand is also home to the fourth largest population of Japanese people outside Japan.

Koichiro Ando, Chief Executive Officer of Dear Life, said: “I have a lot of hope regarding the market potential in Thailand, along with the increase in population and average salary. The Thai government is taking an active strategy in attracting affluent foreigners.”

“There are still many things that need to be fixed regarding the structure of the nation's real estate industry, including the procedures of property management and the administration process; even online transactions, things that are common in Japan are not the case in Thailand.”

He added that it is obvious that the number of foreign residents moving into Thailand, and the growth of the economy will continue.

"It is important that we bring the technology into the play to cope with the changes and to provide more sophisticated services with high additional business values.”

Ryo Higuchi, Chief Executive Officer of GA technologies, added: "We have been cultivating in the digital transformation area since the founding of our business.  Creating a world-leading company through the power of technology and innovation has always been the business vision we uphold as always. To expand our business into Southeast Asia, a region with huge potential for growth, is a strategy that is necessary for the growth of our business"

"I truly admire the courage of Mr. Ando who has to start his business from zero by himself in another country. feel very excited and positive about the future of our company and our business."

The deal was approved by board and shareholder meetings of both companies last month, with the deal set to be concluded during 2022.