Prospect Development (PD) <\/span>, a subsidiary of Munkong Housing Public Company Limited, <\/span>has launched the Bangkok Free Trade Zone 7 (BFTZ 7) project on Bangna-Trad Road, Km. 10, <\/span>with a rental area of approximately 36,000 square meters to meet the demand in the logistics business.<\/span><\/strong><\/p>

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Ms. Ratchanee Mahatdechkul, Managing Director of Prospect Development Co., Ltd., the developer and manager of the ‘Bangkok Free Trade Zone’ project, <\/strong><\/span>stated that the Bangkok Free Trade Zone 7 project is an initiative outside the 2023 plan. The company seized a great opportunity to purchase land with warehouses on over 40 rai, investing around 300-400 million baht to develop <\/span>the BFTZ 7 project, located on Bangna-Trad Road, Km. 10, directly opposite Mega Bangna, a prime location suitable for logistics businesses, <\/span><\/strong>close to Suvarnabhumi Airport and well-connected for transportation to both the eastern and southern regions via the industrial ring road.<\/span><\/p>

The BFTZ 7 project will feature approximately 36,000 square meters of rental space, designed as Ready Built-to-Suit buildings, a new model <\/span>that involves transforming existing warehouse space of about 22,000 square meters to quickly meet customer needs, along with an additional 15,000 square meters of Ready Built-to-Suit buildings to accommodate more clients. This development will allow for flexible leasing options ranging from 1,000 to 10,000 square meters, effectively catering to the specific requirements of various industries.<\/span><\/p>

Recently, the BFTZ 7 project has gained the trust of Nim Express Co., Ltd., a leading logistics company in Thailand, which has reserved space to expand its business and enhance the standards of its distribution facilities to support the growth of the logistics sector.<\/span><\/p>

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In 2023, after successfully closing deals for over 100,000 square meters in the first half of the year, the company has adjusted its roadmap to support growth in this promising location. It aims to expand its strategy of 'More Than Just Space' to develop rental space to 2 million square meters by 2028, with an annual investment budget of over 2 billion baht. For 2023, the target is to close the year with new clients totaling over 150,000 square meters.<\/span><\/p>

The BFTZ 4 project in Bangpakong, BFTZ 6 on Bangna-Trad Road, Km. 19, and the BFTZ 7 project on Bangna-Trad Road, Km. 10, which is currently under construction and expected to be fully operational by the end of 2023 and early 2024, will drive this growth. Meanwhile, the New Goal continues to seek opportunities for new project developments on land in its portfolio, particularly in Wang Noi, a strategic distribution point to the regions, and Laem Chabang, which is located in the EEC, marking a new milestone for future growth.<\/span><\/p>

However, sectors such as consumer goods, recycling, solar cell manufacturing, and the production of electronic and automotive parts that align with the clean energy trend, particularly electric vehicles, remain key tenants in the Bangkok Free Trade Zone across all six existing projects, which maintain an average occupancy rate of 85-92%.<\/span><\/p>

To increase investment capital for business expansion, <\/span>Prospect Development <\/strong><\/span>is preparing to issue its second bond in 2023, with a 2-year maturity and a fixed interest rate (expected) of 6.70% per annum, with interest payments every three months throughout the bond's term. The offering period is from June 26-28, 2023, with a selling price of 1,000 baht per unit and a total of up to 700,000 units, amounting to a total value of no more than 700 million baht. The bonds will be offered to institutional investors and/or large investors through the securities distribution managers, including Finansa Securities Public Company Limited, Bluebell Securities, KGI Securities (Thailand) Public Company Limited, and Globlex Securities.<\/strong><\/span><\/p>