Real Estate

Since its establishment, Chandler Mori Hamada has recognized the importance of the Real Estate (RE) sector in Thailand and surrounding countries. Clients include both local and overseas investors, particularly, leading Japanese property developers. Today, the firm’s Real Estate team advises on diverse aspects of property investment, such as development of new projects, acquisition, disposition and financing of existing properties, all aspects of structuring for development projects, on due diligence, and on drafting / negotiating transactional agreements and documents.

Some Representative Transactions:

・A major Japanese real estate developer on a cross border investment through a share acquisition in six real estate development projects in Bangkok, and a joint venture with a Thai listed company.
・A Singapore subsidiary of a major Japanese developer investing in two warehouse projects in Thailand. The projects are being developed by a joint venture.
・A major Japanese developer investing in a townhouse project in Bangkok. The project is being developed by a joint venture.
・A major Japanese construction company which is seeking to obtain a BOI promotion for a hotel development with 100% Japanese investment. It will have two Japanese partners.
・A major Japanese developer investing in various condominium and townhouse projects in Bangkok.
・A Japanese consortium investing in a warehouse in an industrial area in Rayong. The project is being developed by a joint venture involving a local Thai partner and a Japanese consortium.
・A major international property and hotel developer on its investment in a hotel development project in Bangkok. The transaction involved a long-term lease of land (3+30 years). The parties first entered into a “Master Agreement” which included a three-year superficies agreement and 30-year lease agreement. Several condition precedents were provided in the “Master Agreement”. When those CPs were satisfied, the parties conducted the closing. Subsequently they entered into a superficies agreement and the lease agreement which was registered. The rental for the entire term was paid in a lump-sum.
・A major foreign property developer in its investment in a joint venture project involving a condominium development with a Thai local developer (a subsidiary of a Thai listed company). In this transaction, we adopted a scheme in which the ownership of the assets was NOT held by the joint venture company. Usually, joint venture transactions in the real estate development sector, between a foreign investor and a local Thai developer, are made through a joint venture company which holds the ownership of the assets. In this transaction, the local partner holds the ownership of the assets (land and buildings). The joint venture company incorporated by the foreign property developer and the local partner entered into an “Investment Agreement” with the local partner in which the joint venture company provided the funding to the local partner for the project. The local partner committed to transfer the profit for the project to the joint venture company.
・Singaporean subsidiary of one of the largest real estate developers in Japan in relation to the financing of construction of projects we led the drafting and negotiation of the required documentation, including the credit facilities agreement, guarantee agreements and other security documents as well as giving regulatory advice relating to the transactions.
・Hotel/serviced apartment project (BOI investment promotion) by a JV company between a foreign investor and a Thai local developer in which the joint venture company obtained BOI (Board of Investment) investment promotion certification.
・Co-working space project joint venture company between a foreign real estate company and a Thai local developer.
・Logistics centre project by a joint venture company between a foreign developer company and a Thai local partner.
・A Japanese major shopping centre company on a joint venture project for a shopping centre development in Bangkok with a local partner.
・A major foreign apparel company on a project to open a retail roadside shop − using a property leasing scheme.