Jenkongklai Public Company Limited, or JPARK, has opened GJ PARK, a full-service parking building within the Kanchanaphisek Medical Center at Mahidol University, with a construction investment value of 590 million baht under a 30-year long-term lease. Chief Executive Officer Santipol Jenwattanapaisal said the building has a total area of 40,000 square meters, comprising at least 1,000 parking spaces and approximately 4,000 square meters of commercial space, of which more than 80% has already been leased. The internal rate of return, or IRR, is expected to be 12-15%, above the minimum target of 10%. Minimum revenue is projected at no less than 60 million baht per year, with revenue recognition beginning in the third-quarter 2026 financial statements, and the investment is expected to pay back within five years. Part of the investment is a 300 million baht loan from Kasikornbank, which under the agreement must be repaid within seven years. For the second-half outlook, the company expects operating results to grow from the first half, driven by new projects: the Nakhon Si Thammarat project, whose first phase of 400 spaces out of a total of 1,000 spaces opened on August 12, and a medium-sized project of approximately 400-500 parking spaces in the Bangkok area expected to begin operations and recognize revenue in December 2026. The company is maintaining its target of roughly 20-30% total revenue growth in 2026 from the previous year, and expects continued growth to reach 1 billion baht in 2028. It has set a total investment budget of approximately 300 million baht for this year. Meanwhile, the company plans to develop approximately three to four additional Lifestyle Mall projects over the next five years in Bangkok and its vicinity, as well as at large state hospitals and airports in Ubon Ratchathani, Khon Kaen, and Nakhon Si Thammarat provinces. It also plans to raise funds by injecting this group of project assets into a real estate investment trust, or REIT, within the next five years, to serve as a funding source for future project expansion.
Jenkongklai PCLJPARK opens GJ PARK parking building with 590M baht investment, 12-15% IRR, and 60M baht annual revenue, supporting 20-30% revenue growth target.
Kasikornbank Public Company Limited