Thailand Industrial MarketView Q1 2018
13 Jun 2018
SILPs Sales Remained Low Despite Strong Exports
The macroeconomic numbers continued to show positive signs for the Thai industrial market. In Q1 2018, exports to all major markets grew by 11.3% Y-o-Y. The Manufacturing Production Index (MPI) increased by 3.93% Y-o-Y. The Thai automotive industry saw an expansion in car production of 11.1% Y-o-Y. Despite the continued improved economic indicators and the government’s promotion of the Eastern Economic Corridor (EEC), SILPS sales remained low in this quarter. We expect to see more SILPs demand this year if the macroeconomic numbers continue to improve.
The Serviced Industrial Land Plots (SILPs) market slowed down significantly in Q1 2018. Total sales of SILPs, excluding Rojana, decreased by almost -80% Y-o-Y, standing at 119 rai (47 acres or 19 hectares). There was no new supply in this quarter, which kept the total supply at approximately 157,000 rai (62,000 acres or 25,100 hectares).
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