Real estate and construction in Thailand
Baker McKenzie is a key firm in Thailand for real estate and construction matters, with expertise in REITs, project development, infrastructure funds and environmental regulations. Practice head Sorachon Boonsong has particular expertise in REITs-related work and is a key contact at the firm for cross-border investment and acquisition deals. Duangkamon Amkaew is also known for her real estate expertise, which includes experience of cross-border property acquisitions and regulatory matters. Also recommended are Wittaya Luengsukcharoen, who specialises in real estate finance, and Sumet Orsirivikorn, handles cross-border M&A in the hotel, property management, and wider real estate sectors.
- Assisted Noble Development with the disposal of land in Rama V road to SC Asset Corporation worth $14.6m
- Successfully represented Shangri-La Hotel with the acquisition of 23 plots of land (approx. 2630 sqm) and six buildings, worth $60m, located on Bangkok’s most upper-scale Thonglor area of Sukhumvit 55.
The team at DLA Piper (Thailand) Limited has wide-ranging expertise in cross-border projects, property investment, REITs and real estate disputes, where it regularly acts for landlords, investors and developers. Dusadee Jittasaiyapan leads the team and acted for WeWork in relation to the lease of a building space on Sukhumvit Road in Bangkok for a flexible workspace centre in Thailand. Jittasaiyapan is noted by clients and peers alike for his extensive experience in the real estate sector. Senior associate Supranee Arjjit has knowledge of real estate investments, acquisitions and compliance matters.
Other key lawyers:
‘Very knowledgeable about Thai real estate laws. Services are always of high quality and precise.’
Tropicana Corporation Berhad
Virgin Active Health Clubs
Minor Hotel Group
- Advised Virgin Active Health Clubs on all aspects of its first entry in Thailand including its development of hi-end fitness clubs in Thailand. The advice includes due diligence, preparation of lease and service agreements for its premises at various shopping malls and office buildings in Bangkok and other provinces in Thailand.
- Advised AEG on a joint venture with The Mall Group Ltd (“TMG”) concerning the development, construction, leasing and operation of the 5,000 capacity EmSphere Theatre and 15,000 capacity Bangkok Mall Arena in Bangkok, Thailand.
- Represented One Sukhumvit 59 in relation to the lease of land on Sukhumvit Road in Bangkok.
- Represented WeWork in relation to the lease of a building space at T One Building on Sukhumvit Road.
- Advised Minor Hotel Group in relation to the purchase of land and building in Phuket Province for residential development.
Linklaters' clients include local and international property developers, property owners and financial institutions, which it advises on property finance and development matters. The team is jointly headed by managing partner Pichitpon Eammongkolchai, who has expertise in real estate finance and development, as well as M&A, and Wanwisar Nakarat, who has specialist expertise in REITs, and also advises on development and construction contracts in the power and infrastructure sector. The practice group recently advised a number of banks including The Japan Bank for International Cooperation in the provision of financing to Gulf SRC for the development and construction of a 2,500MW combined cycle power plant in Chonburi province, Thailand valued at $1.5bn.
Pichitpon Eammongkolchai; Wanwisar Nakarat
Roxy Pacific Holdings
Mandarin Oriental Hotel Group International
Hong Kong Land
- Advised Thai Oil on the Clean Fuel Project at their petrochemical facility in Thailand in regards to the drafting and negotiation of the EPC contract and other construction arrangements with Petrofac.
- Advising the Consortium of Charoen Pokphand Holding in the bidding and all contracts for the development, construction, operation and financing of the $7.5bn high speed rail linking three airports.
Siam Premier International Law Office Limited advises lenders, sponsors, and government bodies on foreign investments, construction agreements, PPP development projects, and all related project and contract disputes. The team is also active in the energy infrastructure space, where it acts for a number of domestic and international oil companies. Rawat Chomsri handles a range contentious and non-contentious matters and has particular expertise in the renewable energy sector, and Chatchavej Chitvarakorn has extensive experience in construction, most notably PPP work, where he advises governmental authorities, banks and bidders. Associate Ajjima Kanokmaneechotikul is active in acquisition due diligence and leasing transactions.
Rawat Chomsri; Chatchavej Chitvarakorn
Other key lawyers:
‘The heart and soul of the practice is the ability and leadership of Chatchavej Chitvarakorn. He takes ownership of all matters on which his team works, and personally ensures that the work product and service is the best in Thailand.’
‘Chatchavej Chitvarakorn is the best real estate and corporate lawyer in Thailand. His work ethic is unmatched, and he provides advice that is commercial and tailored’
‘Chatchavej Chitvarakorn is responsive, accommodating, and wins over clients and opposing parties with personal charm, intelligence and a fair and balanced approach.’
Electricity Generating Authority of Thailand
PTT Exploration and Production
- Advising the Port Authority of Thailand on the utilisation of land and assets under government policy, in relation to the development of a landmark real estate project on 160 acres of riverside land which will include a department store, business centre, shops and other commercial space.
Watson Farley & Williams (Thailand) Limited
Watson Farley & Williams (Thailand) Limited works with Thai and foreign companies on contentious and non-contentious construction matters with a focus on the energy and hospitality sectors. Practice head Christopher Osborne has particular experience in the real estate, hotels and leisure sectors, and is currently advising Zublin on the sale of land and a railway sleeper manufacturing facility as part of the wider EEC project. Senior associate Lyle Andrews is noted for his experience in construction-related disputes.
Other key lawyers:
Infinity Spa Services
Wind Energy Holding
Symbior Solar Express
- Advised Symbior on rooftop solar projects in Thailand including preparing lease agreements specific to rooftop areas to enable long term use to construct and operate solar farms on the rooftops of commercial buildings.
- Advised Infinity Spa on its long-term commercial lease at the Rembrandt Hotel Bangkok. The role included advising on commercial terms and the scope for expansion and customisation of the leased premises.
Weerawong, Chinnavat & Partners acts for developers, property owners, investors and property funds, in relation to dispute resolution, real estate developments and construction permits and regulatory matters. Senior partner and team head Veeranuch Thammavaranucupt acted for TICON industrial Connection in its investment with JustCo, a co-working office space company, for the acquisition of all shares in two branches of JustCo located in Bangkok. Panuwat Chalongkuamdee is also notable, working on real estate asset acquisition in mixed-use projects.
Other key lawyers:
Great Pacific Properties
Leisure World Property and Loan Fund
Sino-Thai Engineering & Construction
Thai Department of Highways
Blumenthal Richter & Sumet Ltd advises investors, private equity funds, entrepreneurs and multinational corporations on property inspections, acquisitions and land leases, among other non-contentious commercial property issues. Practice head Robert H. Schuler specialises in local and regional real estate matters, and Ittinant Suwanjutha is instructed by real estate developers and foreign investors in relation to commercial development projects.
Robert H. Schuler
Other key lawyers:
Chandler MHM Limited advises domestic and international corporates on real estate transactions, REIT structuring, and lease and management agreements for hotels and office buildings. Practice co-head Joseph Tisuthiwongse advised on the establishment of CPNREIT’s debenture program, and on issuance of Thai Baht-denominated debenture tranches in August 2018 and February 2019 collectively worth $505m. Susumu Hanawa, who also co-heads the practice, is noted for his work in real estate investments throughout the wider Asia region. Tananan Thammakiat is an expert in REITs and has experience in cross-border transactions.
Joseph Tisuthiwongse; Susumu Hanawa; Tananan Thammakiat; Pranee Klinratana
NUMURA REAL ESTATE DEVELOPMENT
- Acted as counsel to Tokyo Tatemono Asia in its $460m investment in three residential condominium real estate development projects.
Charin & Associates
Charin & Associates advises on corporate real estate matters, project developments and real estate-related non-performing loan portfolios. In addition, the firm is noted for its work with REITs. Charin Satchayan and Benjaporn Puttinan jointly head up the team, and recently advised WHA Real Estate Management as the REIT manager on the capital increase and the corporate real estate acquisition of additional assets valued at $150m. Satchayan specialises in residential and commercial real estate, while Puttinan focuses on corporate real estate transactions.
Charin Satchayan; Benjaporn Puttinan
‘The team has high working standards with a good business sense.’
WHA Premium Growth Freehold and Leasehold REIT
AIM REIT Management
SCB Asset Management
Charn Issara Residence
- Acted for AIM Real Estate Management as the REIT manager in connection with the establishment of a new entity AIMCG to invest in community shopping centres.
- Representing Dusit Thani REIT during its $70m acquisition of Dusit Thani Maldives resort, which has 5 star holiday villas and residences.
DFDL Legal & Tax covers an array of work such as real estate transactions, developments and disputes in a number of sectors including retail and hospitality. and mixed use projects. Clients include developers, financiers and contractors. Jointly headed by Rashane Leerabandhu and Audray Souche, the team acts for developers, financiers, and contractors in commercial and mixed-use real estate projects. Leerabandhu has experience of corporate acquisition work in the construction and real estate industries, and Souche is has expertise in infrastructure projects, and also handles foreign investment transactions. Senior legal adviser Paul D. Volodarsky acts for property owners and developers in residential and hospitality projects.
Rashane Leerabandhu; Audray Souche
Lew Yeo Hotel Management
- Advising Anamaya Samui in relation to a luxury residentialk villa project in Koh Samui, a resort in southern Thailand.
- Advised Axion Ventures, a Canada based investment entity focused on investments in online video gaming and information technology, in respect of the tax issues connected to its expansion in Thailand.
Tilleke & Gibbins handles a wide range of real estate and construction matters, including property development, real estate acquisitions and property leasing for domestic and multinational companies. The practice group is headed by Cynthia M. Pornavalai, who advises on environmental issues in addition to property matters. Property acquisition expert Chaiwat Keratisuthisathorn is also recommended.
Cynthia M. Pornavalai
Other key lawyers:
JC Kevin Development
The Walt Disney Company