JPARK Public Company Limited, or JPARK, has launched the GJ PARK project, a full-service parking building within the Kanchanaphisek Medical Center at Mahidol University, with a total investment value of 590 million baht, comprising a 300 million baht loan from Kasikornbank, while the company has signed a 30-year long-term land lease. Santipol Jenwattanapaisal, Chief Executive Officer of JPARK, said the project is expected to deliver a return on investment, or IRR, of 12-15% and to pay back within 5 years, even though the loan agreement sets loan repayment within 7 years. It is expected to generate revenue of no less than 60 million baht per year and to begin recognizing revenue from the third quarter of 2026 onward. The project comprises parking space for at least 1,000 cars and a further 4,000 square meters of commercial rental space, which currently has a rental occupancy rate of more than 80%. The company plans to develop 3-4 more projects of this type, focusing on areas with high traffic volume, and aims to raise funds by injecting this group of project assets into a real estate investment trust, or REIT, within the next 5 years, or in 2029. As for the business outlook for the remainder of the year, the company will open a project to manage a medium-sized parking area of 400-500 parking spaces under a 3-year contract in the Bangkok area this December, and is confident that revenue this year will grow 20-30% and reach 1 billion baht in 2028 in line with its target. Meanwhile, the company is still studying opportunities to expand its business into neighboring countries in the service and technology business categories together with the public sector.
Jenkongklai PCLJPARK launches GJ PARK parking building with 590M baht investment, targeting 12-15% IRR and 60M baht annual revenue from Q3 2026.
Kasikornbank Public Company LimitedKasikornbank provides a 300 million baht loan for the GJ PARK project, a financing event but only a passing mention.
