NovPMT Property
PMT Property is better understood as a project joint venture than as a standalone developer with a long public portfolio. Thoresen Thai Agencies' disclosures state that TTA originally controlled the company and that, after a 2019 transaction, the ownership structure became 60% TTA, 30% Kanden Realty & Development and 10% Toray Construction. The partners use PMT Property to develop 125 Sathorn in Bangkok. The public sources reviewed do not establish a separate track record of completed projects under PMT Property itself.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
PMT Property is better understood as a project joint venture than as a standalone developer with a long public portfolio. Thoresen Thai Agencies' disclosures state that TTA originally controlled the company and that, after a 2019 transaction, the ownership structure became 60% TTA, 30% Kanden Realty & Development and 10% Toray Construction. The partners use PMT Property to develop 125 Sathorn in Bangkok. The public sources reviewed do not establish a separate track record of completed projects under PMT Property itself.
Track record
PMT Property's verifiable development history is concentrated in 125 Sathorn, a 755-unit scheme of two 36-storey towers launched for sale in 2022. For a buyer, however, the original construction timetable is no longer the most important part of the record. In 2023 the Central Administrative Court revoked the project's EIA approval and construction permit in a dispute involving the floor-area calculation used in relation to neighbouring The Met. TTA's disclosure as of 31 October 2025 says the appeal remained pending; reservations stood at about 15%, basement levels B1-B3 and the ground level had been completed, and construction had progressed to the sixth floor. The same disclosure models completion in 2029 if the appeal succeeds, or 2030 if a new EIA submission is required. That is materially more recent than the 2026 target that still appears on the project website.
Segments and prices
PMT Property is publicly represented by a single upper-end residential development, 125 Sathorn in Bangkok's central business district. TTA has described the scheme as an approximately THB 8 billion project, but that figure is the development value rather than a unit price. The public project page does not provide a single current price list, while third-party portals show differing entry prices. A buyer should therefore work from a dated quotation for the specific unit, together with the payment schedule and protections if the project timetable changes.
Geography
125 Sathorn is on Sathorn Road in Thung Maha Mek, Sathon, Bangkok. Official project materials place it about 500 metres from Chong Nonsi BTS station. The sources reviewed do not establish a broader PMT Property development footprint beyond this scheme, so it is more accurate to assess the company as the vehicle behind a specific central-Bangkok project rather than as a multi-city developer.
Reliability and public record
The structure has a transparency advantage: the joint-venture partners are publicly disclosed by listed TTA and by Japanese partner Kanden Realty & Development, and the project's history is visible in formal corporate materials. TTA also announced a THB 1.7 billion project-financing facility from TMBThanachart Bank in 2023. Those partner names and the historical financing package do not remove the key current issue, however: the unresolved EIA and construction-permit litigation. PMT Property should therefore be assessed on the present legal status, valid permits and buyer protections rather than on the reputations of the joint-venture partners alone.
What to verify
Before reserving a unit at 125 Sathorn, ask for a documented update on the Supreme Administrative Court appeal and confirm what construction work is currently authorised. The contract should contain a realistic revised handover date, a clear long-stop date, refund rights if delays continue, and provisions covering any project changes required by the legal outcome. Also verify that the seller and payment recipient match PMT Property or another clearly documented related entity. A foreign buyer should separately confirm that the chosen unit can be transferred within the foreign ownership quota at completion and what remittance documents will be required for registration.
Frequently asked questions
Who owns PMT Property?
According to TTA's disclosure, the post-2019 ownership split is TTA 60%, Kanden Realty & Development 30% and Toray Construction 10%. The partners use PMT Property as the joint-venture company behind 125 Sathorn.
Is 125 Sathorn still due for completion in 2026?
The 2026 target still appears in some project marketing materials, but TTA's more recent 2025 disclosure presents a different timetable because of the court case. It models completion in 2029 if the appeal succeeds or 2030 if the EIA process must be resubmitted. A buyer should rely on the date in the current contract and the latest formal documents rather than the older marketing target.
Does PMT Property have other completed projects?
The public sources reviewed do not confirm separate completed developments under the PMT Property entity; its verifiable record is tied to 125 Sathorn. TTA, Kanden Realty & Development and Toray Construction have their own corporate histories, but those should not automatically be counted as PMT Property's own completed track record.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- Securities and Exchange Commission, Thailand / Thoresen Thai Agencies PCL · Thoresen Thai Agencies — risk disclosure covering PMT Property ownership and 125 Sathorn status · 26.08.2026
- Kanden Realty & Development Co., Ltd. · Kanden Realty & Development — participation in the 125 Sathorn condominium project in Bangkok · 26.08.2026
- Thoresen Thai Agencies PCL · TTA — PMT Property statement following the Central Administrative Court decision · 26.08.2026
- PMT Property Company Limited · 125 Sathorn — official project page and development specifications · 26.08.2026
- Thoresen Thai Agencies PCL · TTA — 125 Sathorn groundbreaking and project financing · 26.08.2026