Ticon Logistics Park, otherwise known as TPARK, has inked a deal with Prospect Development to purchase 180 rai of land in the Bangkok Free Trade Zone (BFTZ).
The deal is a strategic move by TPARK to expand its ready-for-use land bank in the Bang Na-Trat area, especially in Bangplee, where industrial expansion is steadily increasing.
The land purchase also reinstates TPARK’s leadership in acquiring strategic locations to serve the continuous growth of demand for warehouses and logistics services in Bangkok and surrounding areas.
Patan Somburanasin, general manager of TPARK, Thailand’s leading developer of logistics parks and ready-built warehouses, said: “TPARK realises the high potential of the Bangplee area, which is close to Bangkok and situated in the vicinity of major roads with transportation linkages that facilitate efficient logistics management between Bangkok and other provinces in all regions.
“Unaffected by the severe flood in 2011, the Bangplee area is strategically suitable for logistics, warehouses and a distribution centre for various industrial sectors, such as consumer products and the modern trade – for both wholesale and retail business. TPARK therefore continues to expand its business in this area to serve the growing industrial expansion.”
TPARK’s purchase of 180 rai in the BFTZ under the management of Prospect Development is to allow further expansion of its logistics park and high-quality ready-built warehousing in the Bangplee area.
Development of the new project, to be known as TPARK Bangplee 2, will start immediately with an investment of about Bt2 billion.
The project will cover a total space of 150,000 square metres of warehouses for lease when fully completed. The land already purchased by TPARK will be converted from a free zone to a general zone, and warehouses will be ready for rent starting from early next year.
Located on Bang Na-Trad Km 23,in Samut Prakan province, the BFTZ is close to the Industrial Ring Road with access to major roads connecting all regions of Thailand.
“At present, TPARK has a land bank of over 600 rai in the Bangplee area, which includes both developed and under development projects, covering a total of over 500,000 square metres of warehouses for lease. With the newly purchased land, TPARK becomes the developer of warehouses for lease with the biggest ready-for-use land bank in the Bangplee area. Warehouses in TPARK Bangplee 2 will be available for lease starting from early 2014, and full completion of the project is expected by 2015,” said Patan.
Pornsarin Maethivacharanondh, managing director of Prospect Development, said the land-purchase deal meant TPARK and Prospect had formed a good business alliance, providing a great choice for customers, especially in the logistics industry starting from small and medium-sized enterprises to mega-sized businesses within the BFTZ.
“This business synergy provides an effective alternative for customers, enabling them to begin business and manufacturing operation with a shortened start-up period. At present, the BFTZ has developed total space for warehouses and factories of about 150,000 square metres. Including the additional 180 rai purchased by TPARK, the BFTZ will develop another 300 rai, with some 300,000 square metres targeted to be completed by 2016,” he added.