- Midea Refrigeration Equipment (Thailand), as a subsidiary of Midea Group, has entered into a land sale and purchase agreement with Frasers Property Thailand (FPT) to develop 130 rai of land in Chonburi province, a strategic location for industrial and manufacturing and part of Thailand’s Eastern Economic Corridor (EEC).
BANGKOK, 14 JANUARY 2020
Midea Refrigeration Equipment (Thailand), a subsidiary of Midea Group which is a leading global home appliance provider based in China, has completed a sale and purchase agreement of 130 rai of land in Chonburi province with Frasers Property (Thailand) Public Company Limited or “FPT”, a leading provider of integrated real estate platform. The land will be developed into not only Midea Group’s largest home appliance manufacturing hub in Thailand outside of China, but also Midea Group’s largest intelligent technology manufacturing hub outside of China.
Mr. Sopon Racharaksa, President of FPT shared: “This cooperation reflects Midea’s confidence in FPT’s local network and existing real estate capability including our landbank. The subject land is strategically located within close proximity to existing high value industrial clusters, deep sea port and our logistics parks. We are delighted to be working with Midea to enable the development of an intelligent technology manufacturing hub in Thailand’s fast-growing Eastern Economic Corridor. FPT currently has a landbank of over 300 rais located adjacent to this land plot, and we further plan to develop additional industrial and logistics spaces to support upcoming demand from this relocation into this cluster area. We are expecting that this cooperation will generate growth in EEC area and support Thailand’s ambition to increase its competitiveness in the industrial sector.
FPT is Thailand’s leader in industrial property business with over three decades of experiences, and our expertise and capabilities go beyond brick-and-mortar. With our customer-centric approach, we are able to deliver integrated solutions that respond to the evolving needs of our customers across industries.” Mr. Sopon concluded
