JLL Closes Long-Term Lease Deal for Asok–Phrom Phong Site with The Erawan Group

Bangkok, December 8, 2025 - JLL Thailand (NYSE: JLL), a leading professional services firm specialising in real estate and investment management, has announced a major achievement in securing a long-term lease agreement for a prime land plot in the heart of Bangkok’s business district, in the Asok–Phrom Phong area on behalf of the landlord. The Erawan Group Public Company Limited is awarded a long-term lease to develop a new project. This milestone reinforces the strong potential of the location and reflects investor confidence in Bangkok’s economy.

Mr. Krit Pimhataivoot, Country Head & Head of Capital Markets at JLL Thailand, said:
“We are proud to contribute to bringing this important deal to fruition. The prime location, combined with The Erawan Group’s vision and expertise, positions the new development for success. This project not only strengthens The Erawan Group’s business but also benefits the broader economy, society, and stakeholders."

“In a market shaped by economic shifts and changing consumer demand, adaptability is key for developers looking to drive sustained growth. This transaction demonstrates that long-term land leasing offers developers flexibility and robust asset value creation—a model that delivers value for all parties,” Krit added.

Ms.Yuwadee Sahapornpitakkul, Senior Director of Capital Markets at JLL Thailand, commented:
“The strategic location of land plot played a critical role in attracting strong interest from reputable investors. Its connectivity, amenities, and long-term growth prospects make it one of the most coveted sites in Bangkok. By managing a transparent tender process, we enabled the landlord to fully leverage the site's market potential while ensuring all parties benefited from a fair and competitive outcome.”

Mr. Youssef EL Khomri, President, The Erawan Group PLC, said:
“We are delighted to have successfully acquired this long-term land lease in a highly sought-after site in central Bangkok, marking an important milestone for our company. This acquisition directly aligns with our long-term development strategy, which focuses on creating distinctive hotel assets in Bangkok’s most strategic and high-potential districts.

With new premium land supply in central Bangkok becoming increasingly limited, securing this site significantly strengthens our development pipeline and provides a strong foundation for future expansion. Our vision is to develop a hotel that elevates the city's hospitality offering and contributes to the vibrancy of Asok and Phrom Phong.

Bangkok remains one of Asia’s most dynamic and resilient hotel markets, and this new development reflects our continued confidence in its long-term outlook. We would also like to extend our sincere appreciation to our landlord for entrusting us as a partner in this project, as well as to JLL for their professionalism and efficiency throughout the entire transaction process.”

The closing of this deal showcases JLL’s proven record in advising on long-term land leases. In recent years, JLL has represented numerous landowners, completing transactions with a combined lease value of over 60 billion baht in the past years — demonstrating JLL’s ability to create enduring value for their clients.