WHAKW Alliance and Tokyo Tatemono Asia Announce Joint-Venture to Invest in Bangkok CBD Prime Office Space

(BANGKOK, 11^th 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.

About WHA Group

WHA Corporation Pcl. (WHA Group) is Thailand’s leader in fully-integrated logistics and industrial facilities solutions. WHA’s operations consist of 4 business areas in Logistics, Industrial Development, Utilities & Power and Digital Solutions with an integrated service offering that enables it to provide customers with turn-key solutions:

• Logistics – Customers can avail of built-to-suit factories, logistics facilities and distribution centers. This innovative concept was pioneered in the market since 2003 by WHA Corporation Pcl., with more than 2.7 million sq.m. in leasable area under owned and managed assets at 48 strategic locations nationwide to date.
• Industrial Development – As a world-class industrial estate developer, WHA offers strong and efficient infrastructure, utilities, industrial clusters including automotive and petrochemical clusters, and comprehensive industrial services. Today, WHA Industrial Development Plc. has 12+ operating industrial estates, covering over 71,000 rai, mostly located in Rayong, Chonburi (in the EEC) and in Saraburi. The EEC Management Committee has designated 11 WHA IEs as special industrial zones for targeted industries, in line with WHA Group’s commitment to support the development of 10 target industries in the country. WHA is also developing an industrial estate, WHA Industrial Zone - Nghe An, in Vietnam.
• Utilities and Power – As the sole supplier of water and other utilities infrastructures, WHA Utilities and Power Plc. offers total security to industrial estate customers while enjoying strong partnerships with leading power operators. It supplies approximately 145 mm m3 of water per year and 644 operational equity MW.
• Digital Platform – In order to support its customers in their business intelligence operations, WHA actively provides comprehensive digital solutions. WHAbit, a healthcare application to enhance accessibility to healthcare services, including telemedicine, was officially launched in partnership with Samitivej Hospital. It also led the company’s digital transformation through over 32 projects to turn the company into a tech company in 2024.

About WHAKW Alliance

Established in 2020, WHAKW Alliance is a joint venture between WHA Corporation PCL. (“WHA”) and KW Capital Co., Ltd. (“KW”) specialising in asset management and development of high value prime commercial assets across Thailand. WHAKW is currently developing a number of commercial projects on super prime sites across Bangkok’s Central Business District.

About KW Capital

KW Capital is an investment management business specialising in asset management, development, and enhancement of prime real estate across Thailand with a key focus on commercial and alternative asset classes.

About Tokyo Tatemono Asia

Tokyo Tatemono Asia is part of Tokyo Tatemono, the oldest real estate developer in Japan with a 126 years history, and listed on the stock exchange with total assets of 1.72 trillion yen, or approximately THB 441 billion Thai Baht at the end of 2022.