By The Nation
The company said in a press release on Thursday that it plans to develop the site into a large-scale integrated industrial real estate project.
Sopon Racharaksa, president of TICON, said the company continues to expand its business by leveraging the strength of its partnership and its expertise as a leading industrial property developer.
The expansion was approved by the board of director earlier for “TRA”, a joint venture company 50 per cent owned by TICON, and 25 per cent each owned by Rojana and AIE, to win the auction for a prime 4,300-rai site located at Bangna-Trad Road KM.32. The total bidding amount was close to Bt8.9 billion.
The acquired site will strengthen TICON’s landbank position to offer a strategic development to its customers, the company said.
Sopon said: “The Eastern area of Bangkok represents a strategic location that continues to expand and serve as an industrial hub of the country. The area has a distinctive logistics system that serves as a prime distribution centre of Thailand, with close proximity to Suvarnabhumi International Airport and Bangkok Port (Khlong Toei Seaport) and an access to Bangna-Trad super highway which connects motorway and eastern outer ring national highway to the Eastern Economic Corridor (EEC).
“The strategic location is ideal for a large-scale integrated industrial-led real estate project which may include an element of mixed-use development and residential property.”