Thai developer buys stake in Monocle

Thailand real estate developer Sansiri is buying a 13% stake in UK-based media firm Monocle, eyeing brand promotion and co-development opportunities for its properties. The US$6 million investment is part of a larger $80 million diversification strategy that will see Sansiri take positions in a raft of other worldwide businesses including US-based hotel group Standard International, UK-based Airbnb host management firm Hostmaker, and Singapore-based co-working firm JustCo.

While Monocle has a small Asian footprint in Tokyo, Hong Kong and Singapore, its unorthodox mix of print and radio media assets is a self-described "trend-defying" mix that caters to an affluent global business audience. In a release, Sansiri describes the potential benefits of the deal as a means to globally promote Sansiri assets and co-develop marketing through Monocle. Sansiri is also eyeing a potential collaboration to develop The Monocle Residence, a mixed-use luxury residential project in Bangkok next year.

Describing the deal as a "natural fit" between lovers of good design and urban development, Monocle chairman Tyler Brûlé said the deal opens up new opportunites for his media channels, with "a bold plan to expand in the Asian market."