SET-listed WHA Corporation Plc, Thailand's largest developer of built-to-suit logistics facilities, has set aside up to 10,000 rai of land in Rayong province ready to be sold to investors.
The land is expected to draw much interest as Rayong comes under the Eastern Economic Corridor (EEC) project, said Jareeporn Jarukornsakul, chief executive and vice-chairman of the company's board of directors.
The land is in Hemaraj Industrial Estate, where WHA acquired a 92.88% stake a year ago, she said.
The EEC spans the three eastern provinces of Chon Buri, Rayong and Chachoengsao, which will be designated for development as a high-tech industry cluster with an eye towards becoming Asean's leading economic zone for industrial, infrastructure and urban development.
"The eastern region has strong potential for further expansion with the generation of new industries. Demand for land for building factories and warehouse solutions remains strong. The EEC project will also help link aviation logistics at U-tapao airport and the industrial estates in the region," Ms Jareeporn said.
The government has prepared 500 rai adjacent to U-tapao airport to build other facilities, aiming to make the airport an Asean aviation hub.
The Industrial Estate Authority of Thailand has also set aside 30,000 rai in the eastern region to accommodate several factories, with 15,000 rai already developed.
To promote the EEC, the government plans to link Pattaya, Map Ta Phut and U-tapao airport by building a motorway and logistics facilities.
Hemaraj Industrial Estate is only 20 kilometres from U-tapao airport.
"The EEC project will help increase investment value in the East and will benefit all sectors, not only WHA but also other estates," said Ms Jareeporn.
With strong support from the government and better logistics, companies from Japan, China and South Korea are interested in investing in the area.
"Several industries have expressed an interest to buy land there to build new factories in the EEC, including automotive and parts, robotics and medical equipment," she said.
Ms Jareeporn said WHA recently went with the government to a roadshow in Shanghai and found several Chinese startups wanting to invest in the EEC to build warehouses and distribution centres.
WHA's four core businesses are logistics, industrial facilitation, utilities and power, and digital. It plans to expand in both domestic and overseas markets.
Ms Jareeporn said the company would hold a board meeting next month to discuss its five-year plan, including the EEC project and expansion in Indonesia and Vietnam.
"We are confident our revenue this year will reach the target of 17 billion baht due largely to investors' expansion plans that encouraged them to buy more land, helping our business to continue to grow," she said.