SET-listed WHA Corporation, Thailand's largest developer of built-to-suit logistics facilities, has revised up its industrial land sales target to 2,500 rai this year, thanks to growing foreign investment and the state policy to promote new businesses.
The company's original target was 2,400 rai.
Jareeporn Jarukornsakul, group chief executive and chairman of the WHA executive committee, attributed the increase partly to the impact of geopolitical conflicts and the trade war which has caused foreign business people to relocate their production facilities to countries in Asean, including Thailand.
The government's policy to support S-curve industries, including new-generation cars -- notably electric vehicles (EVs)-- and smart electronics, in the Eastern Economic Corridor (EEC) is also a key factor.
The EEC, which covers parts of Chon Buri, Rayong and Chachoengsao, will be developed into Thailand's high-tech industrial hub.
"Besides the policy to support the EV industry and its supply chain, Thailand also has a new government that will continue to boost investment in the country," said Ms Jareeporn.
WHA aims to boost its land sales both in Thailand and Vietnam.
In the first half of this year, WHA's total industrial land sales stood at 1,042 rai, comprising 979 rai in Thailand and 63 rai in Vietnam.
The company runs 12 industrial estates in Thailand and plans to expand its existing estates and build new ones covering an additional 9,430 rai.
In Thailand, WHA is planning to invest in residential areas and community mall developments in Rayong to serve investors building factories in the company's industrial estates in the province.
The company is pushing ahead with its industrial estate projects in Vietnam, including the construction of WHA Smart Technology Industrial Zone 1 in Thanh Hoa province.
The company is investing 78 billion baht of its investment budget to support WHA's businesses between 2024 and 2028. Some 15 billion baht are spent this year, with 9 billion baht of the total to support industrial estate development, 3.3 billion to be spent on logistics, 2.3 billion to go into utilities and power businesses and 400 million to be invested in digital technology business.
From January to June, WHA posted revenue of 6.48 billion baht, with profit standing at 2.65 billion baht.
