Midea Refrigeration Equipment (Thailand) purchases land from Frasers Property Thailand for development of 130-rai Intelligent Technology Manufacturing Hub in Thailands Eastern Economic Corridor

Event Calendar Press Releases Tuesday January 14, 2020 14:12
Bangkok--14 Jan--Five W&H Communication
  • Midea Refrigeration Equipment (Thailand), as a subsidiary of Midea Group, has entered into a land sale and purchase agreement with Frasers Property Thailand (FPT) to develop 130 rai of land in Chonburi province, a strategic location for industrial and manufacturing and part of Thailand's Eastern Economic Corridor (EEC).

Midea Refrigeration Equipment (Thailand), a subsidiary of Midea Group which is a leading global home appliance provider based in China, has completed a sale and purchase agreement of 130 rai of land in Chonburi province with Frasers Property (Thailand) Public Company Limited or "FPT", a leading provider of integrated real estate platform. The land will be developed into not only Midea Group's largest home appliance manufacturing hub in Thailand outside of China, but also Midea Group's largest intelligent technology manufacturing hub outside of China.

Mr. Sopon Racharaksa, President of FPT shared: "This cooperation reflects Midea's confidence in FPT's local network and existing real estate capability including our landbank. The subject land is strategically located within close proximity to existing high value industrial clusters, deep sea port and our logistics parks. We are delighted to be working with Midea to enable the development of an intelligent technology manufacturing hub in Thailand's fast-growing Eastern Economic Corridor. FPT currently has a landbank of over 300 rais located adjacent to this land plot, and we further plan to develop additional industrial and logistics spaces to support upcoming demand from this relocation into this cluster area. We are expecting that this cooperation will generate growth in EEC area and support Thailand's ambition to increase its competitiveness in the industrial sector.

FPT is Thailand's leader in industrial property business with over three decades of experiences, and our expertise and capabilities go beyond brick-and-mortar. With our customer-centric approach, we are able to deliver integrated solutions that respond to the evolving needs of our customers across industries." Mr. Sopon concluded

About Frasers Property (Thailand) Public Company Limited

Frasers Property (Thailand) Public Company Limited ("FPT"), a subsidiary of Frasers Property Group is a leading integrated real estate platform with multi-asset class expertise. FPT through its subsidiary, Golden Land Property Development Public Company Limited ("GOLD") has businesses in Industrial, Residential, Commercial and Hospitality property in Thailand.

FPT is also the sponsor and manager of Thailand's largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT"), which is focused on industrial and logistics properties in Thailand; while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), a REIT focused on commercial properties. FPT, GOLD, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.

For more information on FPT, please visit: frasersproperty.co.th
About Frasers Property Limited

Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Group"), is a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$37.6 billion as at 30 September 2019.

Frasers Property's assets range from residential, retail, commercial & business parks, to industrial & logistics in Southeast Asia, Australia, Europe and China. Its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its knowledge and capabilities from across markets and property sectors, to deliver value in its multiple asset classes.

Frasers Property is also the sponsor of three real estate investment trusts and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers Logistics & Industrial Trust are focused on retail, commercial & business parks, and industrial & logistics properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two real estate investment trusts listed on the Stock Exchange of Thailand. Frasers Property Thailand is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on logistics and industrial properties in Thailand and Golden Land Property Development Public Company Limited is the sponsor of Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.

For more information on Frasers Property, please visit frasersproperty.com

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