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TCC Capital to Invest in New Estate

By on Sep 30, 2014 in Property News

The property arm of whisky tycoon Charoen Sirivadhanabhakdi, TCC Capital Land, has plans to invest in a new industrial estate project in Chon Buri to cash in on rising demand for capacity expansion in the automotive industry.

Tor Trisorat, TCC’s chief executive, said the project was located on 2,000 rai of land and would focus on logistics services, especially for the supply chain of the automotive industry.

“It is the right time to invest in a new industrial estate,” he said, adding the company conducted a feasibility study.

Mr Tor said TCC decided to start developing projects on the land bank soon mainly due to concerns over the proposed land, inheritance and gift taxes the government plans to introduce next year.

The Sirivadhanabhakdi family is one of the largest property owners in the country, as one report estimated the family owned a land bank of over 600,000 rai.

“We spent many years studying the possibility of an industrial estate on our land bank. The logistics industry has great potential in the area as Chon Buri requires a linkage between the parts production base and assembly sites,” he said.

Mr Tor said TCC expected logistics service providers would want to expand their distribution centres and depots in the area.

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Source | Bangkok Post 29 September

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