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Thailand Industrial – Pinthong to Add Two Estates

By on Mar 12, 2014 in Property News

Pinthong Industrial Park Co, operator of the Pinthong industrial estates in Chon Buri, will launch a combined 2,200 rai in two phases by the early third quarter.

The two phases – Pinthong 4 and Pinthong 5 industrial estates in Si Racha district – will cost 5 billion baht in investment.

Upon completion, the company will have a total industrial estate area of 6,000 rai at a development cost of 14 billion baht, said director Somsri Duangprateep.

With the launch of the two new phases, Pinthong aims to increase combined revenue to 4.8 billion baht from the 4-billion-baht figure that has been relatively unchanged over the past three years, with before-tax profit rising to 1.6 billion baht from 900 million baht.

The fourth phase will have 700 rai and the fifth phase will have 1,500 rai. Each phase can house 100 new factories. Pinthong aims to complete the sale of both phases within three years.

On average, each rai will be available for sale at 3 million baht or for rent at 180-200 baht a square metre.

Rents make up 8-10% of total revenue, and the company hopes to increase that level to 15% with the new phases.

Of the investors that have expressed interest in the new phases, 70% are current customers of Pinthong or are located around the Eastern Seaboard area. Japanese investors make up the majority, followed by Chinese and Thai. Most new investors are coming from Japan.

Factories in Pinthong’s industrial estates are mostly small and mediumsized enterprises (SMEs) in car parts, electronics, logistics, plastics and packaging.

General manager Takaharu Tsuge said the lack of official new members on the Board of Investment (BoI) during the political vacuum has yet to affect Pinthong or its clients.

“Most projects in Pinthong are worth less than 200 million baht, so they don’t need approval from the new board at BoI,” he said.

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Source | Bangkok Post 12 March 2014

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