Krungsri inks Bt1.25bn project financing for JV between Sena and Japan’s Hankyu Realty
Krungsri (Bank of Ayudhya) has signed a project-finance facility worth Bt1.255 billion for Sena Hankyu 1, the first joint venture between Sena Development, a major Thai property developer, and Hankyu Realty, Japan’s leading developer, to jointly develop a condominium project and support the development of the property sector in Thailand.
The bank said the deal “resonated Krungsri’s strength and expertise” as a member of Mitsubishi UFJ Financial Group (MUFG).
Pornsanong Tuchinda, Krungsri’s head of Commercial Banking, said the success of the deal highlighted the synergy between Krungsri’s local expertise and MUFG’s global network under the bank’s mission in leveraging on MUFG’s customer base while servicing Thai property developers.
“This JV project is our first collaborative development between Sena and Hankyu. The project leverages on Japanese know-how in construction and design technology, converges on the current needs and lifestyles of consumers, as well as building on Sena’s strong growth momentum,” said KessaraThanyalakpark, director of Sena Hankyu 1.
Toda Masahiko, deputy general manager of Hankyu Realty, said: “This is the first project for Hankyu Realty in Thailand. Having a strong strategic partner with an in-depth understanding of the Thai property sector, coupled with a very good location, we are strongly confident of the success of the project.”
