2 weeks Ago
Araya Land Development is predicting a positive business outlook following its entry into the industrial estate business and the subsequent sale of half of its industrial land to foreign investors. The sales figure was revealed by the Industrial Estate Authority of Thailand (IEAT), which yesterday signed a memorandum of understanding with Araya Land Development to jointly develop "Araya -- The Eastern Gateway", the company's new industrial complex. The complex is currently under construction and is expected to serve as an "industrial-tech ecosystem" that comprises a mix of technology-driven businesses, including data centres, advanced manufacturing and R&D, an industrial estate, a logistics park, lifestyle amenities and residential areas.
"This project is attractive to prospective investors from Europe, South Korea, Japan and China who want to expand their businesses into Thailand," said Yuthasak Supasorn, chairman of the IEAT board. US President Donald Trump's new tariff policy, which is escalating a trade war, especially with China, is expected to cause foreign companies to expand or relocate their production facilities to Southeast Asia to avoid the impact. After the Araya -- The Eastern Gateway project gains government approval in terms of its environmental impact assessment within 2026, industries are expected to start taking shape within the site.
Araya -- The Eastern Gateway is the 73rd industrial estate to come under the IEAT's supervision. Araya Land Development was co-founded by Frasers Property (Thailand) Plc, which has a 50% share, Rojana Industrial Park Plc, which holds a 25% stake, and Asia Industrial Estate Co, which has a 25% stake. The new company announced it would embark on the industrial estate business in February this year.
While it differentiates itself from rivals through the ecosystem concept, others attract clients by providing eco-friendly industrial parks and through a greater use of clean energy through, for example, the use of electric vehicles. Araya Land Development's project, which spans 1,891 rai of land at KM32 on Bang Na-Trat Road on the outskirts of Bangkok, is expected to support local employment by generating 14,560 jobs. In another development, the IEAT is planning to approve a new industrial estate in Prachin Buri, which is set to become a new economic zone where industrial land is expected to be sold in the future.
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