NEWS RELEASE
April 10, 2023
For immediate release
Tokyo Tatemono Co., Ltd.
Tokyo Tatemono Participates in its First Office Building
Development Project in Bangkok, Thailand
Urban Midsized Office Building with Leading Local Partners
Tokyo Tatemono Co., Ltd. (Head Office: Chuo-ku, Tokyo; Representative Director, President & Chief Executive Officer: Hitoshi Nomura; hereinafter "Tokyo Tatemono") announced that, through its business entity in Asia, Tokyo Tatemono Asia Pte. Ltd. (Head Office: Singapore; Representative: Ryutaro Nishimura), it has participated in a new office building development project in Bangkok, Thailand, in collaboration with WHAKWAlliance Co., Ltd. (Head Office: Samut Prakan, Thailand; Chairwoman: Jareeporn Jarukornsakul; CEO: Kanawat Wasinsungworn; hereinafter "WHAKW"). This marks the Tokyo Tatemono's first foray into office building development projects in Thailand, where it has previously been involved in multiple condominium development projects.
The office building project, "SK 25 Project," is located on the corner of Sukhumvit Soi 25, a 5-minute walk from BTS (elevated railway) Asok Station and MRT (subway) Sukhumvit Station in central Bangkok, where office buildings and commercial facilities are concentrated. The development is a midsized office building with seven floors above ground and a total floor area of approximately 9,500 square meters, comprising office spaces and some commercial units. The building is designed and constructed by Thai Takenaka International Ltd. (a local subsidiary of Takenaka Corporation) with a target completion date of July 2023. Tokyo Tatemono will actively attract tenants from Japanese and international companies moving forward.
Rendering of the completed building *This is a current version and is subject to change.
WHAKW, the joint venture partner for this project, is a company that was established by WHA Corporation Pcl. (Head Office: Samut Prakan, Thailand; Group CEO: Jareeporn Jarukornsakul; hereinafter "WHA"), Thailand's leading developer of industrial parks and logistics facilities, and KW Capital Co., Ltd. (Head Office: Bangkok, Thailand; Chairman: Kanawat Wasinsungworn; hereinafter "KW"), a Thai commercial real estate investment company. WHAKW develops high-class commercial buildings in prime locations in central Bangkok.
Tokyo Tatemono has agreed to engage in ongoing discussions on future project participation with WHAKW as strategic business partners and will continue to explore joint venture opportunities, leveraging each other's expertise.
Thailand is the second-largest economy in ASEAN after Indonesia in terms of GDP and is a market with strong potential for real estate demand in the medium to long term, driven by stable economic growth accompanying the full-scale recovery of the
tourism industry. As part of its current Group Medium-term Management Plan, Tokyo Tatemono has identified "growth of overseas businesses" as one of its key strategic priorities. Tokyo Tatemono will continue to actively pursue business opportunities in the Thai market, where it has already established a solid track record since entering the country in 2018.
Signing Ceremony
From left: WHAKW CEO / KW Chairman: Kanawat Wasinsungworn
WHAKW Chairwoman / WHA Group CEO: Jareeporn Jarukornsakul
Tokyo Tatemono Representative Director, President & CEO: Hitoshi Nomura
Tokyo Tatemono Director and Managing Executive Officer: Fumio Tajima
- Project Overview (Planned)
Location: | Sukhumvit Soi 25, Bangkok, Thailand |
Site area: | 1,489 m2 |
Total floor area: | Approx. 9,500 m2 |
Structure and size: | RC construction, 2 underground floors, 7 above-ground floors |
Building usage: | Office, commercial, parking |
Completion date: | July 2023 (planned) |
- Business Partner Overview
Company name: | WHAKWAlliance Co., Ltd. |
Head Office: | No. 777 WHA Tower, 23rd-25th Floor, Moo 13, Debaratna Road (Bangna-Trad) KM 7, Bang |
Kaeo Sub-district, Bang Phli District, Samut Prakarn Province, Thailand | |
Establishment: | 2020 |
Main businesses: | Commercial real estate development, operation, and management |
Representatives | Jareeporn Jarukornsakul (Group CEO, WHA Corporation) |
Kanawat Wasinsungworn (Chairman, KW Capital) |
- Location Maps
Wide-area map
Vicinity map
- Tokyo Tatemono's Thai Projects
The company's ongoing projects in Thailand areas follows:
Project name | Sukhumvit 26 | Sathorn 12 | Onnut |
Asset type | Condominium | Condominium | Condominium |
Central Bangkok | Central Bangkok | Outskirts of Bangkok | |
Location | Sukhumvit Area | Sathorn Area | Srinakarin Area |
(4-min walk from Phrom | (2-min walk from Saint Louis | (5-min walk from Si Nut | |
Phong Station) | Station) | Station) | |
Total site area | 3,188 m2 | 2,886 m2 | 16,744 m2 |
Total occupied area | 15,614 m2 | 17,386 m2 | 29,230 m2 |
Structure and size | RC construction, 37 floors | RC construction, 40 floors | RC construction, 8 floors |
above ground | above ground | above ground | |
Total sales units | 157 units | 238 units | 1,108 residential units |
2 commercial units | |||
Completion period | September 2022 (completed) | Third quarter of 2023 (planned) | First quarter of 2024 (planned) |
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Disclaimer
Tokyo Tatemono Co. Ltd. published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 01:26:02 UTC.