MATCH
MATCH represents BTS Group’s platform for business diversification and expansion beyond its core transportation and media ecosystem. Through this segment, BTS Group and/ (or) its affiliates invest in and develop business opportunities across a range of industries, including real estate, financial services and information and communications technology (ICT), with the objective of creating long-term value and strengthening the Group’s broader business portfolio.
MATCH also leverages selected capabilities and assets within the Group, including customer reach, media platforms and data insights, to support business development and operational opportunities where appropriate.
Key Business Sectors under MATCH
Under BTS Group Holdings PCL (BTS Group) consists of the following:
Mixed-Use Development:
BTS Visionary Park is a 36-storey mixed-use development situated on a total land area of 11 rai and 40.7 square wah (17,763 sq.m.) in a strategic location connected to Bangkok’s major mass transit systems (the Green and Blue lines). The project comprises office spaces and retail areas. It has been designed under the concepts of sustainability and enhanced quality of life for occupants and has received LEED Gold and WiredScore Gold certifications.
Residential Development (Condominiums)
Baan Chao Thai is a residential initiative, to expand access to affordable housing for Thais. The project begins with two pilot low-rise condominiums on Srinagarindra Road (near Si Iam Station on the Yellow Line) and in Pathum Thani (near Talaad Thai Market and Thammasat University).
Other Properties
Thana City Golf & Sports Club, located on Bangna-Trad Road KM 14, Samut Prakan, is an integrated sports and lifestyle destination offering premium sports, leisure, and recreational facilities for members, families, and corporate clients.
Under Rabbit Holdings PCL (RABBIT) (BTS Group holding a 68.0% shareholding) consists of the following:
Hospitality Business
- Hotels in Thailand: There are currently 7 operational hotels (1,450 rooms) and 1 hotel under development (75 rooms).
- Hotels in Europe consists of 2 hotels (369 rooms) under the "Vienna House® by Wyndham Easy" brand in Poland and Romania.
Real Estate for Rent Business
- Leased hotels in Europe consists of 15 hotels (2,478 rooms) under the "Vienna House® by Wyndham Easy" brand, distributed across Germany, Poland, Slovakia, and the Czech Republic. These are 3-4star hotels located in secondary cities and regional economic hubs. Additionally, this European hotel group, which has been leased to HR Group for management since 2022, has been transferred back under the management of RABBIT in April 2026.
- Domestic office rental includes 2 buildings in Bangkok: The Unicorn Phayathai and Noble Ploenchit, with a total leasable area of 25,667 sq.m.
- International office rental includes 1 building in London: 33 Gracechurch Street, with a total leasable area of 9,783 sq.m.
- Commercial rental space consists of a total of 20,939 sq.m. of leasable area. This includes commercial condominium units in Bangkok and retail spaces within The Unicorn Phayathai project.
Condominium Business
RABBIT operates a 50:50 joint venture with Sansiri PCL to develop condominiums adjacent to mass transit systems. There are 10 projects in total: 7 projects completely transferred, 1 project currently in the transfer process, 1 project divested, and 1 project awaiting development.
Investments in Other Real Estate Businesses
- Mixed-Use Projects
- The Residences 38: A project comprising condominiums and serviced residences, managed by The Ascott Limited under the brand "La Clef Bangkok, by The Crest Collection," located in the prime Thonglor area.
- The Unicorn Phayathai: A mixed-use development featuring the 5-star "Eastin Grand Phayathai" hotel, Grade-A office spaces, and retail areas. It is located at a major transit hub connecting the BTS and the Airport Rail Link (Phaya Thai Station).
- International School Business
In late 2025, RABBIT announced a strategic partnership to transition its education provider from Verso International School to Wycombe Abbey International School Bangkok, aiming to elevate educational standards to an international level under the British curriculum.
- Land for Development
RABBIT holds and invests in land across Bangkok and various provinces totaling 721 rai, with a total book value of THB 3,342mn.
Policy on Prevention of Conflicts of Interest between BTS Group and Rabbit Holdings:
https://www.btsgroup.co.th/storage/download/cg/policy/20260527-bts-prevention-of-conflicts-of-interest-between-bts-rbh-en.pdf
By virtue of the Group’s other businesses, it often has insight into infrastructure development and timelines and future trends. Historically, it has capitalised on this information by purchasing land, either for future development by the Group, or future sales with a demonstrated track record of delivering excellent returns. Typically, the investment and sale/development cycle are long, matching with the longer development cycles of infrastructure developments. The Company and its subsidiaries have subsequently built up an extensive land bank in Bangkok and other provinces. The book value of the land bank was THB 21bn (representing 29% of total book value) as of 31 March 2026.
Under Rabbit Life Assurance PCL (RABBIT LIFE)
RABBIT LIFE (RABBIT’s subsidiary) is an insurance company offering life insurance products covering individual ordinary life insurance and personal accident insurance. Services are offered through multiple channels, including agents, brokers, telemarketing, and online platforms.
Under Thanulux PCL (TNL) (BTS Group holding a 42.1% shareholding)
TNL is an investment holding company with a diversified portfolio across secured lending, distressed asset management, real estate for sale and financial advisory, with property serving as a core underlying asset. TNL reflects a strategic collaboration between BTS Group and Saha Group, combining complementary capabilities to drive long-term value. In late 2022, TNL underwent a significant transformation, shifting from its legacy in textile and apparel manufacturing to a capital-efficient model focused on financial services.
Under Roctec Global PCL (ROCTEC) (BTS Group holding a 68.0% shareholding) ROCTEC is a leading provider of integrated ICT solutions, specialising in advanced communication systems, particularly for the transportation industry and data network solutions. ROCTEC brings over 40 years of international experience since its founding in Hong Kong, ROCTEC delivers end-to-end digital solutions for both public and private sectors. ROCTEC delivers solutions that meet the sophisticated demands of its clients across strategic markets, driving digital transformation and enhancing connectivity in critical infrastructure. Looking ahead, ROCTEC is positioning itself as a leader in ICT solutions, with Hong Kong remaining its core market while expanding its success into Thailand and other key regions.
The Company has collaborated with renowned and Michelin Star chefs (or equivalent) to open restaurants in Thailand. Moreover, in 2018, the Company also established Turtle 23 Company Limited (Turtle 23) to operate the restaurant management business.
BTS Group has invested and partnered up with diversified leading listed and non-listed companies to capture untapped opportunities to create mutual benefits. Utilizing our proprietary MOVE and MIX capabilities, our partners would be able to gain additional insights through data across different industries to bring catered solutions geared toward their clienteles. The Company and its partners are able to leverage off each other’s strengths towards the same goal in order to sustain each other’s growth potentials.
