BANGKOK — Owning a single-family home is a widely held aspiration around the world. And Panasonic is bringing its manufacturing prowess to bear in hopes of making it more affordable in Thailand.
The Japanese electronics maker has partnered with Siam Steel International to construct modular homes in the Southeast Asian country, aiming to eventually cultivate a 10 billion yen ($91.7 million) business.
Thai condominium sales have stalled from COVID-19. But sales of detached homes remain strong, especially in the Bangkok area. Panasonic sees growth potential in the modular-home business.
Modules are prefabricated off-site, so the homes take less than a third of the time to build as regular detached homes. A 250-sq.-meter modular home will sell for around 6.25 million baht ($202,000).
Panasonic will enter the market in the new fiscal year, using in-ceiling air purifiers to differentiate its…
