Frasers Property Thailand targets expansion in Southeast Asia

 

Frasers Property Thailand (FPT) is set to aggressively expand its industrial property portfolio across Southeast Asia, with targeted growth in Vietnam and Indonesia in response to shifting market dynamics and geopolitical trends.

 

The company 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.

 

Speaking at a press conference on Friday, Thanapol Sirithanachai, FPT's country chief executive officer, explained the strategic move.

 

Thanapol Sirithanachai

 

"We are committed to serving our clients' business requirements and recognise the increasing demand for industrial properties in these markets," he said. 
 

 

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. Despite industrial units currently contributing 20-25% of total revenue, the company sees significant growth potential.

 

Key expansion highlights include:

• Completed first phase of development in Ho Chi Minh City
• Ongoing second phase with 90% occupancy anticipated
• Operations across three Indonesian locations
• 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. 

 

"Our residential strategy focuses on creating living spaces tailored to the new generation's lifestyle," Thanapol noted.
 

 

 

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.

 

"We're not just adapting to change; we're driving it," Thanapol emphasised.

 

 

Financial outlook

Targeting 16 billion baht in revenue for 2025 — an 11% increase — FPT is navigating macroeconomic challenges including high household debt, elevated interest rates, and market uncertainties.

 

"Against challenging macroeconomic conditions, we are positioning ourselves to secure existing markets while embracing future opportunities," Thanapol concluded.