(BANGKOK, 10th April 2023) – WHAKW Alliance Co., Ltd. (WHAKW) and Tokyo Tatemono Asia Pte. (TTA) have formed strategic joint-venture to invest and develop top-tier office space in Thailand, with an initial project located on Sukhumvit Road worth THB 1,000M. The aim is to invest in additional projects across Bangkok’s Central Business District in the future. WHAKW will hold a 51% stake in the new joint venture company while TTA will own 49%.
The partnership’s first project is a unique low-rise Grade A office building centrally located on the corner of Sukhumvit Soi 25, just a short distance from Asok BTS -Sukhumvit MRT station, one of Bangkok’s busiest business mass transit interchange stations. The building offers over 9,000 sqm of top-quality office and retail space, featuring sweeping glass curtain walls and two underground parking basements. The project, designed and built by Thai Takenaka International, is expected to be completed and fully operational in July 2023.
A joint venture signing ceremony was held in Bangkok between Ms. Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group CEO of WHA Corporation PCL, Chairman of WHAKW Alliance Co., Ltd., Dr. Kanawat Wasinsungworn, Chairman of KW Capital, Chief Executive Officer of WHAKW Alliance Co., Ltd., and Mr. Hitoshi Nomura, President & Chief Executive Officer of Tokyo Tatemono.
Jareeporn Jarukornsakul commented: WHAKW is pleased to launch this joint venture alongside our exceptional partner. I am confident that this top-tier building will stand out with its prime location in Bangkok's bustling CBD, the thoughtful design and unsurpassed services. We look forward to embarking on this collaboration with TTA and to continue our exceptional projects together.
Dr. Kanawat Wasinsungworn commented: Our Partnership with Tokyo Tatemono creates a myriad of synergies allowing us to cater to wide-ranging requirements of customers fusing together the knowledge, experience, and expertise of both parties to craft well-rounded products in a fast-evolving market. We look forward to working closely in forming a long-term relationship with Tokyo Tatemono.
Hitoshi Nomura commented: The joint venture in this project will be our first office development project in Thailand. It is a great honor for us to have reputable local partners, WHA Group and KW Capital. Beginning with this first project, we wish to contribute to the project by utilizing our experience in the development and operation of office properties in Japan and develop a long-term partnership with WHAKW.
In the picture
Ms. Jareeporn Jarukornsakul (center left), Chairman of the Executive Committee and Group CEO of WHA Corporation PCL, Chairman of WHAKW Alliance Co., Ltd. Dr. Kanawat Wasinsungworn (left), Chief Executive Officer WHAKW Alliance Co., Ltd. & Chairman, KW Capital. Mr. Hitoshi Nomura (Center right), President & Chief Executive Officer of Tokyo Tatemono Mr. Fumio Tajima (right), Managing Executive Officer and head of the Overseas Business Division of Tokyo Tatemono during the strategic joint-venture signing ceremony to invest and develop top-tier office space in Thailand.