Expanding Horizons in Southeast Asia

Frasers Property Thailand (FPT) is aggressively expanding its industrial property portfolio across Southeast Asia, with a keen focus on Vietnam and Indonesia. This strategic move is in response to shifting market dynamics and geopolitical trends.

The company has announced plans to construct 50,000 square metres of factory space in Vietnam and 20,000 square metres of warehouses in Indonesia, building on its 100% occupancy rate achieved in 2024.

Strategic Developments and Market Opportunities

Thanapol Sirithanachai, FPT's country chief executive officer, highlighted the company's commitment to meeting clients' business needs and the growing demand for industrial properties in these markets. The expansion is part of a broader strategy involving 10 billion baht in strategic developments for 2025, with 3 billion baht specifically allocated to industrial unit development.

Key expansion highlights include the completion of the first phase of development in Ho Chi Minh City, an ongoing second phase with 90% occupancy anticipated, operations across three Indonesian locations, and exploring additional ASEAN market opportunities.

Residential and Commercial Strategy

FPT plans to launch six new property projects in Bangkok, Nakhon Ratchasima, and Khon Kaen provinces, valued at 9.8 billion baht. The residential strategy focuses on creating living spaces tailored to the new generation's lifestyle, while the company aims to maintain over 90% occupancy in its commercial portfolio, attracting foreign customers and introducing innovative retail experiences.

Implementing an "Everyday AI" programme, FPT is integrating artificial intelligence to enhance operational efficiency and customer experience.

Financial Outlook

FPT is targeting 16 billion baht in revenue for 2025, an 11% increase, despite navigating macroeconomic challenges including high household debt, elevated interest rates, and market uncertainties. Thanapol concluded, "Against challenging macroeconomic conditions, we are positioning ourselves to secure existing markets while embracing future opportunities."