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Real Estate

Real Estate

Key Contacts

Cambodia

Laos

Myanmar

Thailand

Vietnam

OVERVIEW

Navigating Southeast Asia’s property markets with grounded expertise and commercial precision

At Tilleke & Gibbins, we represent both individuals and corporations in advising the clients on real estate, construction, and hospitality. We build on our deep local roots and significant legal and industry knowledge to provide strategic and commercially sound legal solutions on real estate projects and transactions in Thailand and across Southeast Asia. We work seamlessly across practices areas, offering comprehensive legal advice — from due diligence and transaction documentation, project financing, conveyancing and registering the ownership and possessory rights over the properties, to the successful handling of complex construction disputes — aimed at achieving business objectives and maximizing investment returns.

Our expertise includes conducting land title searches and due diligence, drafting and negotiating real estate and hospitality-related agreements, advising on foreign land ownership restrictions, and securing short-term or long-term leaseholds. We also provide guidance on building control and zoning regulations, draft or review construction agreements, assist manufacturers in acquiring land and constructing factories, and secure licenses and permits for businesses in industrial estate areas. When needed, we can ably represent clients in litigation or arbitration. With our extensive knowledge and experience, our team is best placed to help clients successfully manage the complexities and growing sophistication of the region’s real estate market.

Experience

  • Advised a major Japanese construction company in a USD 140,000,000 mixed-use office, condominium and serviced apartment project in Hanoi, including all licensing matters, land title issues, zoning variances, land subdivision, joint venture negotiations, corporate governance, and property management regulations.
  • Represented an American global investment bank in a joint investment with an American private equity firm to provide USD 235 million in equity injection and financing to a Thai property developer, to enable the development and completion of a mixed-use 77-storey luxury skyscraper and a nearby retail building in Bangkok’s central business district.
  • Worked with a leading Hong Kong law firm on the Southeast Asian elements of an acquisition of a chain of over 40 hotels, including extensive holdings in emerging markets such as Cambodia, where our team advised on extensive market entry and localization concerns as part of the client’s due diligence.
  • Advised on a mixed development of an entire island, including land acquisition, development and construction permits, joint venture agreements, financing, customer and supplier contracts, and the legal and tax structure.
  • Retained to represent a hospitality and real estate development company on the development, division, and sale of one of the most valuable stretches of beachfront real estate in Thailand, including the division and sale of several parcels of land to hospitality groups, real estate development companies, and medical and retirement facility operators, as well as the construction and operation of the client’s own properties. Every transaction is tailored to maintain the future integrity of the entire beachfront, and interacts with a complex web of interrelated easements and other obligations on each owner.
  • Assisted a property developer backed by Swedish investors in restructuring their corporate structure for an ambitious multimillion-dollar condominium and villa project in Phuket Province.
  • Advised a key client on its various property joint venture projects with a major property group, including financing agreements, project joint venture agreements, and legal and tax structuring of specific condominium projects.
  • Advising a major Thai hospitality developer and operator on its development of a 100 acres golf club and resort city in Thailand, including shops, restaurants, a hospital, a football field, a stadium, and tourism attractions
  • Represented one of the world’s most recognizable fashion and luxury goods retailers in several commercial real estate disputes in Thailand arising from the disputed termination of a 30-year franchisee relationship. This representation includes negotiation and settlement of lease hold and commercial franchisee contracts with both the outgoing franchisee and the incoming franchisee partner, one of Southeast Asia’s largest and most successful commercial retailers.
  • Helped a major U.S. hospitality chain to structure, draft, and negotiate management contracts and conduct due diligence for six hotel, resort, and condominium projects in compliance with Vietnamese law, including  land title, zoning issues, complex brand licensing, and various taxation issues.
  • Acted as counsel to the developer of various condominium projects in Pattaya. Our involvement covered all aspects of the condominium project, including legal structuring of investor groups, financing, land acquisition, and contracts.
  • Represented a client as a joint defendant in a civil lawsuit filed by the owner of adjacent land. The land owner petitioned the court to register a right-of-way across our client’s land to a public road. The trial court rendered judgment in favor of our client and dismissed the land owner’s complaint.
  • Assisted an international investor with all legal aspects of a land deal, including corporate structure, contract negotiation, and transfer of property. The investor secured ownership of over 20 individual plots of prime beachfront property, which allowed for the eventual establishment of a high-end resort project valued at over THB 1,500,000,000.
  • Restructured the complete set of home loan documents for a global financial institution. The documentation set includes the facility agreement, mortgage agreement, and tripartite agreements between the bank, borrowers, and real estate developers.

PROFESSIONALS

RELATED INSIGHTS

November 28, 2025
On November 26, 2025, the government of Vietnam issued Resolution No. 8/2025/NQ-CP to extend and expand the pilot program allowing Vietnamese citizens who meet certain conditions to gamble at three integrated casino resorts in Vietnam: Corona Resorts & Casino Phu Quoc (An Giang Province) – Effective immediately, and continuing an ongoing pilot program that started in 2019. The Grand Casino Ho Tram (Ho Chi Minh City) – New pilot program for five years starting November 26, 2025. Van Don Integrated Casino & Tourism Complex (Quang Ninh Province) – New pilot program for five years from the date the casino receives its license. The pilot program was originally established under Decree No. 03/2017/ND-CP on casino business, which also sets out the specific eligibility conditions for Vietnamese citizens. After the pilot period, these projects must stop allowing Vietnamese players until the government issues further decisions. This expansion of the pilot program comes after Vietnam’s Ministry of Finance (MOF) released a draft decree earlier this year proposing significant changes to the regulatory framework governing casino operations. These revisions, which focus on increasing fiscal contributions from local players and strengthening compliance obligations for casino operators nationwide, are detailed below. Proposed Increase in Casino Entry Fees for Vietnamese Players The draft decree increases the entry fees applicable to Vietnamese citizens permitted to play at casinos. Under the current regulations, Vietnamese players are required to pay an entry fee of VND 1 million (approx. USD 38) for 24 consecutive hours or VND 25 million (approx. USD 950) per month. The draft decree proposes increasing these fees to VND 2.5 million (approx. USD 95) for 24 consecutive hours and VND 50 million (approx. USD 1,900) per month, effectively doubling the existing amounts and marking the first major fee revision since the pilot program allowing Vietnamese players
November 21, 2025
On November 17, 2025, Thailand’s Ministry of Interior introduced significant regulatory changes to make rooftop solar adoption easier and more cost-effective for property owners. Ministerial Regulation No. 72 B.E. 2568 (2025), issued under the Building Control Act B.E. 2522 (1979), was published in the Government Gazette on November 19, 2025, with immediate effect. Background Under the Building Control Act (BCA), any alteration made to a building requires either notification of the relevant authority or application for a building alteration permit—unless the alteration falls under a separate list of exceptions specified in the ministerial regulations issued under the BCA. In 2015, installation of solar rooftops on any residential building under 160 square meters was added to this list of exceptions, subject to inspection and notification requirements. The newly enacted regulation now eliminates many of these requirements and introduces a broader and more permissive framework to promote solar adoption nationwide. Key Changes Specifically, the regulation introduces three major changes: Expanded exemption from the definition of “building alteration”: The installation of solar panels on any building roof—regardless of the type of building or the total area of the installation—is no longer considered a building alteration under the BCA, provided that the total weight of the installation does not exceed 20 kg/m2. Removal of structural integrity certification requirement: The new regulation eliminates the obligation to obtain a structural stability certificate from a licensed civil engineer. Removal of notification requirement: Property owners or possessors are no longer required to notify the local authority before installation of a solar rooftop. Impact This significant streamlining of requirements for solar rooftop installation is expected to accelerate the adoption of renewable energy in the country, particularly for residential and commercial properties—similar to the way Thailand’s December 2024 removal of licensing requirements for factory solar rooftop installations encouraged such
November 14, 2025
Interest in data center land acquisition has increased significantly over the past year, with a notable rise in inquiries from investors seeking to establish digital infrastructure in Thailand. Although the sector is still in its early stages, this emerging wave of development represents a significant shift in Thailand’s technology infrastructure landscape, driven primarily by multinational technology companies and operators looking to expand their regional presence. Project Development The data center sector in Thailand is attracting a diverse range of international investors, though with clear geographic patterns. Most investors are from China, Singapore, and Japan, with some additional interest from countries outside Asia, including the United States and Europe. This investor base consists primarily of multinational tech companies and operators seeking to establish new facilities rather than acquire existing assets. Data center business activities are also a sector promoted by Thailand’s Board of Investment (BOI), which offers investors both tax and nontax privileges as well as exemptions to foreign investment and land-ownership restrictions. Projects currently underway are still largely in the land acquisition and construction phase. Unlike more mature markets where many facilities are operational and generating revenue, the predominant focus in Thailand remains on securing suitable land and beginning the building process. This means that while interest is high and land assembly is accelerating, the sector as a whole has not yet reached the operational phase that will ultimately drive licensing applications and full regulatory compliance. The licensing process itself remains at an early stage, as most projects must first complete their facilities before applying for the specific licenses required from the telecommunications authority. Once the facilities are built, the next critical step will be obtaining these telecommunications licenses, which are mandatory for data center operations. Legal and Regulatory Considerations The complexity of data center development in Thailand requires
November 13, 2025
The Land Department in Thailand’s Ministry of the Interior (MOI) plays a central role in ensuring the stability and legality of real estate transactions in the country. Its core responsibilities include issuing land title deeds, registering transactions (e.g., sales, mortgages, leases), conducting surveys for subdivision or consolidation of land, and providing information and guidance on land and property development laws. These administrative functions secure investor confidence and support transparency in the Thai property market, so any delay can have a significant impact. This is especially true for investors who depend on timely registration to secure or transfer property rights. Delays can create liquidity risks, postpone project timelines, and even reduce Thailand’s attractiveness as a real estate investment destination. This article explores the nature of these challenges, the legal framework governing the timelines for administrative actions, and remedies available under Thai law. Sources of Delay Procedural delays at land offices can arise for a variety of structural and operational reasons. These include approval processes that require several levels of internal review, heavy staff workloads, and occasional communication gaps within the bureaucratic chain. Many processes still rely upon manual documentation, which can prolong administrative steps and increase the likelihood of bottlenecks. Some delays stem from ongoing investigations into the legality of land titles. For example, a land title deed may have an annotation indicating that the title deed is under investigation to verify its legality. Even though this annotation does not legally prohibit the sale or transfer of the land, in practice, most prospective purchasers are reluctant to proceed with a transaction until the annotation is removed. As a result, the land can become effectively illiquid during the investigation period, leading to significant investment delays. While such investigations are essential to maintaining the integrity of Thailand’s land registration system, prolonged inquiries
AWARDS & RANKINGS
December 1, 2025
Tilleke & Gibbins is pleased to announce that the firm has been honored with two awards at the 2025 Lexology Index Awards in London, this time picking up both the Thailand and Vietnam Country Awards. Formerly known as the Who’s Who Legal Awards, the Lexology Index Awards celebrate outstanding achievements by firms and individuals identified through Lexology’s extensive global research process. Tilleke & Gibbins’ continued success in this forum reflects the exceptional expertise and dedication of its team, whose commitment to delivering the highest caliber of legal services continues to set a benchmark in the industry. The firm extends its gratitude to its talented professionals and valued clients for their continued trust and support. A full list of the winners of the 2025 Lexology Index Awards is available on the Lexology website.
November 20, 2025
Tilleke & Gibbins is pleased to share that Asia Business Law Journal (ABLJ) has released its A-List of Thailand’s Top 100 Lawyers and its exclusive Legal Icons list for 2025. This year, Darani Vachanavuttivong has again been named a Legal Icon, recognizing her as one of the most distinguished professionals in Thailand’s legal community. In addition, nine other Tilleke & Gibbins lawyers have been named among Thailand’s Top 100 Lawyers. The full list of honorees is: Alan Adcock Charunun Sathitsuksomboon Chusert Supasitthumron (new ranking) Athistha (Nop) Chitranukroh Darani Vachanavuttivong (Legal Icon) Kobkit Thienpreecha Nuttaphol Arammuang Pimvimol (June) Vipamaneerut Thawat Damsa-ard Tiziana Sucharitkul The ABLJ A-List is compiled through extensive research, including nominations and feedback from in-house counsel worldwide and international law firm partners who focus on Thailand. The editorial underscores the demand for lawyers with unmatched expertise, a dedication to quality, and a proven ability to deliver strategic, innovative solutions. To view the full list and the accompanying editorial analysis, please visit the ABLJ website.