Hemaraj Land and Development, one of Thailand’s major developers of industrial estates, ready-built factories and logistics parks, reported that it sold 297 rai (47.5 hectares) of land in its industrial estates in the first half of this year – a reflection of the country’s improving economic climate.
In a recent article in The Nation, the company revealed that it signed 20 contracts, including 13 from new customers, this year. Half of the contracts were with Japanese companies and more than 25 percent involved the automotive industry. Hemaraj operates eight industrial estates, covering 41,829 rai, with a customer investment estimate of THB 839 billion (USD 26 billion).
Hemaraj president and chief executive officer David Nardone commented, “This is a reasonable start to 2014. We had the consideration [issue] of political disruptions as well as [a THB 600-billion backlog of Board of Investment] approvals just commencing from June of this year. There is renewed optimism of investor confidence as domestic demand and export markets continue to recover.”
He added that industrial investment in Thailand and its overall business strategy remains attractive in the long term. The country continues to be a preferred location for manufacturing and growth, thanks to reasonable costs, good infrastructure and expanded market access.
