Jenkongklai Public Company Limited, or JPARK, has launched the GJ PARK project, a new full-service parking building within the Kanchanaphisek Medical Center at Mahidol University, with an investment value of more than 590 million baht. It is the second large-scale lifestyle mall developed on a 30-year long-term lease. The project comprises parking space for 1,000 cars, excluding stacked parking, and 4,000 square meters of commercial rental space, which is already about 90% leased. Chief Executive Officer Santipol Jenwattanapaisal said the project will begin generating revenue from the third quarter of 2026 onward, with a target of at least 60 million baht per year, and is expected to repay about 300 million baht in loans from financial institutions within five years from now. The company estimates revenue in 2026 will grow 25-30% from the previous year's figure of about 575.95 million baht, after posting 349.04 million baht in revenue in the first half. JPARK currently manages more than 60 parking areas in total, with more than 90% in Bangkok and the rest in the provinces, such as Nakhon Si Thammarat Airport, Khon Kaen Airport, and Ubon Ratchathani Airport. JPARK also plans to establish additional real estate investment trusts, or REITs. Initially, it is considering including about three to four lifestyle mall projects as assets of the trust, and aims to have clarity on the details within five years from 2025, or around 2029. The GJ PARK project is estimated to have an internal rate of return, or IRR, of 12-15%, while the company's minimum threshold is set at more than 10%.
Jenkongklai PCLJPARK launches the 590-million-baht GJ PARK project, targeting at least 60 million baht annual revenue and 25-30% revenue growth in 2026.
