Real estate and construction in Thailand

Baker McKenzie LLP

The practice group at Baker McKenzie LLP is noted for its expertise in advising on REITs, project development and real estate financing, which the team is able to leverage the expertise of the firm’s banking and finance, tax and dispute resolution teams to provide a full range of services in the real estate sector. Practice head Sorachon Boonsong has considerable experience in advising Thai and international clients on regulatory matters, M&A, developments and leases. Real estate financing expert Wittaya Luengsukcharoen assists developers with the expansion of their real estate portfolios, while Duangkamon Amkaew focuses on cross-border property acquisitions for REITs and real estate M&A transactions.

Practice head(s):

Sorachon Boonsong

Key clients

Singha Estate Public Company Limited

ALLY Leasehold Real Estate Investment Trust

Bualuang Leasehold Real Estate Investment Trust

S REIT Management Company Limited

Noble Development PCL

Shangri-la Hotel Public Company Limited

NYE Estate Company Limited

Work highlights

  • Assisted Singha Estate Public Company Limited (“Singha Estate”), a SET-listed real estate developer, with the sale of all of its shares in “Nirvana Daii”, representing 51.56%, to “Somwattana” group at a total price of THB 1,793m.
  • Assisted Singha Estate Public Company Limited (“Singha Estate”) with securing exclusive rights for 100% shareholding in industrial estate development project and approximately 30% shareholding in three major co-generation power plants with a total capacity of 400 megawatts.
  • Advised Ally Leasehold Real Estate Investment Trust (“ALLY”) on the acquisition of new assets as an additional portfolio of ALLY (comprising of community malls in Chiang Mai and Bangkok and an office area in the mixed-use building located in the CBD area in Bangkok) and also advised ALLY on the processes and approvals required to pursue the transaction, regulatory requirements, holding of the unit-holders meeting, and closing preparation.

DLA Piper

DLA Piper handles the full range of real estate transactions, including project and commercial developments, REITs, property investments, as well as construction and real estate disputes. The practice is noted for its expertise in advising clients across the hotel and leisure sectors on contractual arrangements, development projects and management agreements. Dusadee Jittasaiyapan heads up the team and has experience in handling the full spectrum of real estate transactions across the retail, industrial and energy sectors. Senior associate Supranee Arjjit is a key contact in the team, and advises domestic and international clients on real estate investment and projects developments.

Practice head(s):

Dusadee Jittasaiyapan 

Other key lawyers:

Supranee Arjjit

Key clients

AEG

Jacobs Douwe Egberts TH Co., Ltd.

Merlin Entertainments PLC

Total Access Communication PCL/ Dtac

Burberry (Thailand)

Ek-Chai Distribution System Co., Ltd.

G&P Asset Holding Company Limited

Green Food Factory Co., Ltd.

Delsk Business (Thailand) Co., Ltd. (Delsk Group)

Eastern Water Resources Development and Management Public Company Limited

Virgin Active Health Clubs

Work highlights

  • Advised Green Food Factory on its acquisition of land and a factory.
  • Assisted a leading telecoms company on the lease renewal of its office space.
  • Advising G&P Asset Holding Company Limited on real estate matters in respect to the development of a mini-golf facility.

Linklaters

Linklaters acts for local developers, international property developers and state-owned entities on real estate matters pertaining to corporate acquisitions, financing and real estate investment trusts, as well as domestic projects and cross-border developments. Managing partner Pichitpon Eammongkolchai, who advises clients on real estate financing and M&A transactions, jointly leads the practice alongside Wanwisar Nakarat, who acts for Thai real estate developers.

Key clients

AIA (Thailand)

Charoen Pokphand Group

DTGO Corporation Co., Ltd.

Hong Kong Land

Italian-Thai Development Public Company Limited

KASIKORNBANK

Magnolia Quality Development Corporation Limited

Mandarin Oriental Hotel Group International

Minor International

Roxy-Pacific Holdings

Singha Estate Public Company Limited

Thai Oil Public Company Limited

Victory (Thailand) Co., Ltd.

Work highlights

  • Advising a real estate developer in Thailand on developing the real estate areas which are granted as part of the Public Private Partnership Agreement in connection with the development of commercial land owned by the State Railway of Thailand (SRT) for the enhancement and provision of services in support of the HSR Project.

Siam Premier International Law Office Limited

Siam Premier International Law Office Limited acts for clients on hotel developments and management agreements, as well as advising on a range of real estate matters in the residential, industrial and retail sectors. Practice co-leader Chatchavej Chitvarakorn advises Thai and foreign developers and hotels on development projects and M&A transactions, in addition to acting for government agencies and multination corporations on construction projects. Praphan Phichaiwatkomol jointly leads the practice alongside Chitvarakorn and has experience in foreign investments, while associate Ajjima Kanokmaneechotikul focuses on the property development of resorts, hotels and mixed-use properties.

Other key lawyers:

Ajjima Kanokmaneechotikul

Testimonials

‘Chatchavej Chitvarakorn is supportive and accommodating.’

Key clients

Amata Corporation Public Company Limited

Isuzu Motors Limited

The Electricity Generating Authority of Thailand

Chevron (Thailand) Limited

Padaeng Industry Public Company Limited

Hesco Food Industry Co., Ltd.

Asia Debt Management Hong Kong Co., Ltd.

InterContinental Hotel Group

Radisson Pattaya

Hyatt International Asia Pacific Limited

Watson Farley & Williams (Thailand) Limited

Watson Farley & Williams (Thailand) Limited advises developers and high-net-worth individuals on a range of real estate and development matters, including industrial properties and residential estates. Christopher Osborne is noted for his expertise in the hotel and leisure sectors and leads the wider team on building due diligence for energy projects and construction developments. Kay Kian Tan represents clients in hotels and hospitality, and construction disputes, while senior associate Lyle Andrews utilises his chartered surveyor expertise to advise on construction contracts.

Practice head(s):

Christopher Osborne

Other key lawyers:

Kay Kian Tan; Lyle Andrews

Testimonials

‘Christopher Osborne led the team in an organised and helpful way. They listened to all of our concerns and questions and made operating across jurisdictions as seamless as it could be.’

Key clients

Lancaster Resort Company Limited

Oxford University

STRABAG Industries (Thailand) Co., Ltd

Blumenthal Richter & Sumet Ltd.

Blumenthal Richter & Sumet Ltd. acts for multinational corporations, institutional investors and private equity funds on development projects, particularly in the hospitality and hotel sectors, as well as industrial acquisitions, restructurings and real estate transactions. Practice leader Robert H Schuler has over 20 years’ experience in real estate matters across Southeast Asia, and advises owners, operators and investors in hotel, resort and retail development projects. Ittinant Suwanjutha assists real estate developers on property developments and leasing in Thailand.

Practice head(s):

Robert H Schuler 

Other key lawyers:

Ittinant Suwanjutha 

Key clients

Simon Property Group

Amburaya Property (Samui) Co., Ltd. (W Hotel)

Prosperity Development Co., Ltd.

Rhyity Ltd.

Work highlights

  • Advised Simon Property Group, Inc. on its joint venture with Siam Piwat to form Siam Piwat Simon, in order to develop the Siam Premium Outlets Bangkok, an outlet near Suvarnabhumi Airport that delivers luxury designer brands and restaurants, valued at over THB 4bn.
  • Advised a hotel operator on the sale of its assets which includes a hotel and its other restaurant outlets, valued at THB 1.9bn.
  • Advised a family office based in Europe on an asset split involving the restructuring of a portfolio of real estate operating and non-operating assets, valued at THB 1.5bn.

Chandler MHM Limited

Chandler MHM Limited is praised for its ‘track record and experience in REITs in Thailand’, and acts for sponsors, asset owners and fund managers in this space. The real estate and construction practice also advises local and overseas investors, particularly Japanese developers, in all aspects of property developments. Tananan Thammakiat, who specialises in REITs, jointly leads the practice alongside Susumu Hanawa, who has ‘plenty of experience’ in real estate funds and finance, as well as handling cross-border transactions involving Indonesia and Vietnam.

Testimonials

Mr. Susumu Hanawa has plenty of experience with support, for Japanese companies who do their business in Thailand.’

The team has good track record and experience in REITs in Thailand which we have work with them on capital markets deal. The team can deliver good service and solutions. We can contact them quite easily, so the deal was going well.’

Key clients

Bhiraj Office Leasehold Real Estate Investment Trust (by Bhiraj REIT Management Company Limited)

GLAND Office Leasehold Real Estate Investment Trust (by GLAND REIT Management Company Limited)

Hemaraj Leasehold Real Estate Investment Trust (by WHA Industrial REIT Management Co., Ltd.)

INET Leasehold Real Estate Investment Trust (by INET REIT Management Co., Ltd., a company within Internet Thailand Public Company Limited)

Prospect Logistics and Industrial Leasehold Real Estate Investment Trust (by Prospect REIT Management Co., Ltd., a company within Prospect Development Company Limited group)

Impact Growth Real Estate Investment Trust (by RMI Company Limited)

SCCP REIT Company Limited

Work highlights

  • Represented Prospect Development Company Limited in setting up the Prospect Logistics and Industrial Leasehold Real Estate Investment Trust (PROSPECT) and the REIT Manager to manage the REIT in Thailand.
  • Represented SCCP REIT Company Limited, a company within SCCP Group in an investment in assets in Japan.
  • Advised GLAND Office Leasehold Real Estate Investment Trust (GLANDRT) on the divestment of all its assets to the CPN Retail Growth Leasehold Real Estate Investment Trust (CPNREIT).

Charin & Associates

Led by Charin Satchayan, the REITs team at Charin & Associates acts for clients in the energy, infrastructure and aviation sectors on real estate and construction matters. Satchayan has experience in REITs and real estate developments, while Benjaporn Puttinan also advises on REITs transactions, as well as hotel and office developments.

Practice head(s):

Charin Satchayan

Other key lawyers:

Benjaporn Puttinan

DFDL Legal & Tax

DFDL Legal & Tax’s ‘real estate team provides practical advice, insightful comments’ and helps clients ‘to understand the legal framework in Thailand’. Managing director Audray Souche handles cross-border infrastructure projects, while Rashane Leerabandhu acts for Thai corporations and international clients on real estate developments. Kraisorn Rueangkul advises clients in the aviation, renewable energy and oil and gas sectors on PPPs and foreign direct investment matters.

Testimonials

‘The real estate team provides practical advice, insightful comments and really help us to understand the legal framework in Thailand.’

Tilleke & Gibbins

The cross-practice property team at Tilleke & Gibbins acts for domestic and multinational clients, particularly in the manufacturing and hospitality industry sectors, on real estate development matters. Cynthia M. Pornavalai, who advises investment firms, developers and manufacturers on real estate transactions, heads up with practice alongside Chaiwat Keratisuthisathorn, who is noted for his expertise in property acquisitions, lease agreements and development agreements.

Key clients

Ananda Development PCL

CMA CGM Depot Services (Thailand) Limited

Gensler

JC Kelvin Development

Marriott International

Precious Dragon Technology (Thai) Limited

Scania Siam Co., Ltd.

True Corporation

Work highlights

  • Advised an American manufacturer of advanced electronic components on its THB 220.3m land acquisition, and THB 4bn construction contract for a mega-factory in Thailand.
  • Assisted a Thailand-based manufacturer in its THB 400m acquisition of two plots of land in Pathum Thani, Thailand.
  • Represented a Thai information and communications technology (ICT) provider in a critical environmental and public health dispute at the local administrative court in relation to the construction of a high performance submarine internet cable.

Weerawong, Chinnavat & Partners

Weerawong, Chinnavat & Partners represents developers, owners, institutional investors and property funds on matters relating to property acquisitions, developments, constructions and financing of real estate assets. The practice is led by Sunyaluck Chaikajornwat, who has experience in advising real estate clients on domestic and cross-border M&A and finance work in Southeast Asia, while of counsel Chusak Suwanpuchai has experience in land and construction matters.

Practice head(s):

Sunyaluck Chaikajornwat

Other key lawyers:

Chusak Suwanpuchai