Frasers Property Industrial (Thailand) Company Limited (FPIT), a leading industrial property developer in ASEAN and subsidiary of Frasers Property Thailand Public Company Limited (FPT), unveiled its 2022 business plan and future strategy post Covid-19 with a proactive focus on new era of industrial property, propped up by a Purple Ocean Strategy with two key approaches; "We Are Ready" and "We Are Different". It has set an investment budget of 10 billion baht for use in developing current projects, new mega projects and expanding its footprint overseas. New projects set to be launched this year mark another key step of the Thai industrial sector. FPIT is committed to pioneering modern industrial property, a goal backed up by its upholding of international standards, comprehensive solutions and outstanding position in all areas, including energy efficiency, environmental conservation and well-being of building tenants and surrounding communities. It also uses digital technology to promote all-round sustainability in FPIT project areas, an in-demand trend among leading corporate clients presently.
Mr. Sopon Racharaksa, Chief Executive Officer at Frasers Property Industrial (Thailand) Company Limited stated that: "In 2022, the Company will continue to build on the success of the Purple Ocean Strategy that has contributed to our business' strong growth. We will focus on enhance our competitiveness and reflect our unique position that sets us apart from other providers. This year, we plan to close deals with leading customers for developing modern factories and warehouses, with combined leasable area totalling 200,000 sqm. There are also several others in the pipeline as the demand for logistics and industrial space has risen drastically. In addition, FPIT is set to launch two new project concepts, namely an industrial township and a logistics-and-business park which is located close to the city, which are poised to become prototypes for industrial property development in the future.
We will use our experience and expertise gathered over the last 30 years to apply knowledge and deliver excellent products and experience, in alignment with FPIT's business concept which aims to create an inspiring seamless business solution experience."
At present, FPIT holds the largest portfolio of industrial property assets in Thailand. Its total area under management amounts to 3.1 million square meters, covering strategic industrial areas and logistics in all regions of the country, including the Eastern Economic Corridor (EEC), which has ready-built factories and warehouses available for customers urgently looking for space as well as bespoke space to suite with specific requirement. FPIT maintains its goal in expanding areas under its management to a total of 4 million square meters by 2025, which translates to expansion of 150,000-200,000 sqm per year.
In addition to domestic investment, FPIT has experience in overseas investment. In 2015, it began investing in a warehouse rental business in Indonesia. Currently, its total leasable area there amount to over 150,000 square meters. Last year, FPIT invested in another industrial property business in Binh Duong, Vietnam. Due to an overwhelming response from clients, it is now set to launch phase 2 of the project, adding another 70,000 square meters to its leasable area. Together with the existing phase, the total leasable area in Vietnam will amount to 100,000 square meters.
"FPIT is confident that industrial properties especially the warehouses will play a vital role as the new center of gravity of commercial businesses, enabling manufacturers to cater all kinds of goods to customers with efficiency. With that in mind, we see the importance to adapt our way of working according to the strategy so that FPIT can fulfil these emerging demands. Our strategy and key approaches will also bring about long-term growth and enable the Company to grow alongside with its customers, employees, partners and local communities. In addition, they will enhance the Company's competitiveness against other providers and help drive Thailand's industrial sector forward in the post-COVID era. We make places for the customer to make their future." Mr. Sopon added.