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News Release

Bangkok

The Sale of Serm-Mit Tower - named the best agency deal at Thailand Property Awards 2010, reports Jones Lang LaSalle


Bangkok, 15 November 2010 – Managed by Jones Lang LaSalle, the sale of the majority of strata title office condominium units at Serm-Mit Tower was announced to be the Best Agency Deal of the Year at the recent presentation of Thailand Property Awards 2010 organised by Ensign Media Co Ltd, the publisher of Property Report South East Asia magazine.

In early 2010, Jones Lang LaSalle successfully disposed a portfolio of strata title units at Serm-Mit Tower on Asoke Road with combined space of 34,000 sqm. The portfolio was transacted for THB 1.5 billion and represented the largest capital transaction recorded in the Bangkok office market in the first half of 2010. The property was sold during a time when the economic and political uncertainties prevailed.

Mrs. Anothai Phornprapha, President and CEO of S.P. International Co Ltd which acquired the property, said “Jones Lang LaSalle deserved the recognition as its fair manner of negotiation ensured the transaction was mutually beneficial to both us and the seller.”

“The fact that we reappointed the firm as the sole leasing agent and property manager for Serm-Mit Tower after the acquisition is further testament to our satisfaction with its professionalism,” she added.

Serm-Mit Tower represented a prime example that showcases Jones Lang LaSalle’s comprehensive involvements as a property service provider. In 2007, the firm acted on behalf of an investor in acquiring the building and was then appointed as the property manager and the sole leasing agent for the property in the same year. In 2008, Jones Lang LaSalle was appointed as the project manager for the refurbishment of the development.

Prior to the Best Agency Deal of the Year Award, Jones Lang LaSalle was named the Best Commercial Property Consultancy - Thailand at the Asia Pacific Property Awards 2010 in association with Bloomberg Television. The two awards have reaffirmed Jones Lang LaSalle’s leadership position in Thailand’s commercial property sector. They also represent the latest additions to a portfolio of recognitions obtained by the firm worldwide so far in 2010 such as The Ethisphere Institute’s list of World’s Most Ethical Companies 2010 and the 2010 Global Outsourcing 100.

Seen in the picture is Mr Ian Hamilton, Chairman of RICS Thailand presenting the Best Agency Deal of the Year Award to Mrs Suphin Mechuchep, Managing Director of Jones Lang LaSalle (Thailand) Limited, at the recent Thailand Property Awards 2010 gala dinner.