Confident in the rising demand for ready-built factory and warehouse spaces, Frasers Property Thailand Public Co Ltd continues to grow its ready-built business with a target to increase the occupancy rate to 80 per cent.
Formerly known as TICON, Frasers is a leading provider of integrated real-estate platforms. It continues to drive the growth of its industrial property business, particularly in the ready-built format, to cope with rising demands for industrial and logistics operations as the e-commerce sector shows vigorous growth.
Thailand’s e-commerce market value grew at around 14.04 in 2017 over 2018.
According to Sopon Racharaksa, president of Frasers Property (Thailand), “Leasehold industrial property development in Thailand continues its upward trend with favourable factors, including increased trade and domestic consumption, economic drivers surrounding the ‘Thailand 4.0’ policy, and the tremendous growth of e-commerce in Thailand.”
As a result, said Sopon, the demands for factory and warehouse spaces have increased overall, particularly the ready-build buildings designed to high international quality standards.
“The ready-built facilities meet the needs of companies and allow them to get their industrial and logistics operations up and running quickly,” said Sopon.
In terms of location, industrial properties in Samut Prakan’s Bangplee are getting more interest from customers because this zone is an ideal for last- mile delivery, noted Sopon. The result is a significantly high occupancy rate of ready-built facilities in Bangplee at about 95 per cent.
“To keep the strong growth momentum going in our ready-built industrial property business, FPT will focus on making customer- centric solutions available to our customers and continue to create valuable experiences for them with our unifying idea ‘Experience matters’,” he continued.
“By offering products, services and solutions that meet the evolving needs of today’s customers – along with our high quality, internationally recognised standards of industrial property development -– we are confident that our goal for 2019 fiscal year, an overall occupancy rate of ready-built factories and warehouses at 80 per cent, will be achievable.”
Added Harry Yan Khek Wee, senior vice president for investment property, “Our ready-built industrial property business remains focused on quality.” An internationally high standards of factory and warehouse spaces are readily available in more than 50 strategic locations nationwide, he said.
The firm also keeps a watchful eye on business development opportunities to integrate innovations and modern technologies in order to help boost customers’ operational efficiency and business growth, said Harry.
To achieve that across their ready-built offerings, Frasers are committed to creating value from their existing assets through the implementation of asset enhancement initiatives to fulfil the different needs of our customers, he added.
“That is why FPT is entrusted by leading companies and has many prospective customers in the pipeline. We are confident that our ready-built industrial property business will continue to grow as targeted.”