Frasers Property Thailand Deepens Multi-Asset Portfolio With Industrial, Commercial and Residential Expansion

 

 

Thailand's largest multi-asset real estate player integrates One Bangkok operations, enters industrial estates, and refocuses its residential business as it targets 15 billion baht in revenue for FY2026.

 

Frasers Property Thailand has announced a significant expansion and repositioning of its real estate business across all three of its core pillars — industrial and logistics, commercial, and residential — as the company targets revenue of 15,045 million baht for the financial year ending September 2026.

 

Speaking at a press conference in Bangkok on Wednesday, Chief Executive Officer Lim Hua Tiong said the company's multi-asset class model was delivering greater coherence and resilience across its operations.

 

"As our multi-asset class portfolio deepens, we are bringing our assets and expertise together more effectively, allowing us to operate more cohesively and deliver a consistent, high-quality experience for our customers and partners over the long term," he said.

 

The company's recurring income portfolio — spanning industrial and commercial assets — provides a stable financial foundation, whilst its residential development activities contribute to long-term growth, a balance management described as central to the company's strategy.

 

 

 

Industrial ambitions move up the value chain

The company's industrial and logistics portfolio is expected to surpass four million square metres of assets under management this year, underpinned by record occupancy of 92% in FY2025, with factory leasing alone reaching nearly 97%.

 

Building on that base, Frasers Property Thailand has expanded into industrial estates for the first time, entering a segment that sits further up the industrial value chain.

 

 

 

 

The move includes ARAYA The Eastern Gateway, an integrated industrial estate and innovation ecosystem spanning over 4,600 rai, alongside the recent acquisition of a 2,200-rai industrial estate in Chonburi with an estimated total investment of 6 billion baht over five years.

 

Approximately 30 to 40 per cent of the Chonburi site is earmarked for data centre development, reflecting growing demand for digital infrastructure driven by artificial intelligence and semiconductor investment.

 

The expansion comes as Thailand continues to benefit from the so-called "China Plus One" strategy, with Chinese manufacturers actively diversifying supply chains beyond their home market.

 

The country has seen some 13,000 rai of industrial land sold over the past four years — a figure that dwarfs the preceding decade.
 

 

 

 

One Bangkok integration creates Thailand's largest premium commercial portfolio

On the commercial side, Frasers Property Thailand has operationally integrated One Bangkok — which opened in October 2024 and remains a joint venture between TCC Assets and Frasers Property Limited at the group level — into a single local operating platform.

 

The combined portfolio now spans a gross floor area of 1,846,000 square metres across seven mixed-use projects and ten office buildings in Bangkok's central business district, connected to nine mass transit lines.

 

The integration aligns leasing, asset management and tenant engagement under one team, streamlining decision-making and standardising the tenant experience across buildings.

 

Management said the move reinforces the company's role in shaping the Rama IV corridor into Bangkok's premier office and retail destination, serving both multinational corporations and leading domestic occupiers.
 

 

 

 

 

 

Residential sector: quality over volume amid market headwinds

Whilst the industrial and commercial segments are in an expansionary phase, Frasers Property Thailand's residential business is navigating a more challenging environment.

 

High household debt levels and cautious bank lending have contributed to a slowdown in the broader Thai residential market, and management expects conditions to remain subdued for approximately two years before a meaningful recovery takes hold.

 

Rather than chasing volume during this period, the company said it would concentrate on internal product quality, design innovation and more localised functions — spanning both its landed residential and high-rise condominium segments.

 

The approach reflects a deliberate shift in emphasis, prioritising sustainable margins and customer experience over near-term sales targets.

 

Looking further ahead, management identified health and wellness, green spaces and so-called "15-minute neighbourhood" accessibility as key design principles shaping its future residential developments, alongside the adoption of pre-cast and tunnel-form construction methods to address labour shortages and improve build quality.

 

 

 

 

Leadership aligned for scale

To support its expanded scope across all three business pillars, the company has restructured its senior leadership, elevating several roles including a dedicated Chief Financial Officer for Thailand.

 

Somboon Wasinchatchawal serves as Deputy Chief Executive Officer of Frasers Property Thailand, with Worawat Srisa-an as Deputy Chief Executive Officer of One Bangkok and Kriangkrai Pokanukrom as Chief Financial Officer.

 

Business leads have been appointed across retail, office and hotel, industrial and logistics, industrial estate, and both landed and high-rise residential segments.

 

 

 

 

Despite navigating what management described as a "roller coaster" year marked by geopolitical tensions and global market challenges, Frasers Property Thailand recorded a profit of approximately 1.455 billion baht in FY2025, demonstrating the resilience of its diversified model.