Frasers Property Thailand closes another deal with Watsons Thailand for their third distribution center in Ayutthaya, touching 30,000 sqm of distribution spaces in all regions to resonate with the expansion of businesses and e-commerce
BANGKOK, 20 SEPTEMBER 2022
Frasers Property Industrial (Thailand) Company Limited (“FPIT”), Thailand’s leading industrial property developer and a business unit of Frasers Property (Thailand) Public Company Limited (“FPT”), fortified its position as Southeast Asia’s leader in modern industrial real estate with its recently closed deal for a built-to-suit distribution warehouse in Wang Noi, Ayutthaya, for Watsons Thailand. This is the third distribution center that FPIT will be developing for Watsons Thailand. In total now, FPIT is providing over 30,000 square meters of net leasable area supporting Watsons Thailand’s expansion of retail and e-commerce businesses in Thailand. Moreover, FPIT emphasizes that Ayutthaya has become a strategic location for distribution to northern and north-eastern parts of Thailand, revealing there are still over 300 rai of land banks available in Ayutthaya area, which can be readily developed to cater to all sectors’ needs, strengthening confidence to take stable steps with FPIT’s two key approaches: “We Are Ready” and “We Are Different”.
Mr. Sopon Racharaksa, CEO of Frasers Property Industrial (Thailand) Company Limited, said: “The company has signed the lease agreements to develop a new built-to-suit distribution warehouse for Watsons Thailand Company Limited on a land that occupies over 20 rai in the Frasers Property Logistics Park (Wang Noi 2), Ayutthaya Province – the industrial economic center of central Thailand.”
“This is the third time that FPIT is trusted by Watsons Thailand after being entrusted to construct the previous two distribution centers, one in Bang Phli District, Samut Prakan Province, and the other in the Frasers Property Logistics Park—Khon Kaen, which was Watsons Thailand’s first regional distribution center in the Northeast. We are truly delighted and honored to be responsible for the development of the distribution center for Watsons Thailand again, and expect to deliver this high-quality, modern warehouse in the second quarter of 2023.”
Upon completion of this third distribution center, FPIT would have delivered distribution centers spanning over 30,000 square meters for Watsons Thailand to support its business operations in the digital commerce sphere and omnichannel shopping experiences. The distribution centers will support Watsons Thailand’s e-commerce business expansion as well.
Mr. Sopon added that consumers nowadays are expecting a rapid and convenient door-to-door delivery experience. Thus, efficient distribution centers become a key driver to support businesses in meeting the needs of the consumers. Wang Noi in Ayutthaya Province is another strategic area that serves the purpose of transporting and distributing items to Bangkok, the northern and north-eastern regions of Thailand. FPIT still owns over 300 rai remaining land banks in Ayutthaya, which can be readily developed into modern, built-to-suit distribution centers to facilitate the ambitious expansion of businesses across all sectors.
FPIT will continue to build on the purple ocean strategy with two key approaches – “We are Ready” and “We are Different” – towards the end of 2022 and will forge forward to sign more contracts for new industrial building developments to meet its target of 200,000 square meters of net leasable area.
At present, FPIT’s industrial building portfolio is the largest in Thailand, with total area under management at 3.4 million square meters, covering more than 50 strategic industrial and logistics locations throughout the country. It offers customers a choice of ready-built industrial areas and built-to-suit developments, along with comprehensive services. FPIT is committed to driving sustainable practices, with designs and developments adhering to international environmental standards.
