Prospect Development (PD), a developer and manager of warehouses and rental factories at the Bangkok Free Trade Zone (BFTZ), showcases its potential as a leader in the industrial real estate sector, reaffirming its flagship status within the group of MK Public Company Limited. The company reported outstanding performance in the first half of 2025, with revenue and profit significantly increasing compared to the same period last year, achieving total revenue of 826.47 million baht, a rise of 120.14%. Earnings before interest and taxes (EBIT) reached 535.96 million baht, growing 268.62%, supported by the recognition of income from asset sales into the PROSPECT REIT trust in June. Additional income is expected in the fourth quarter from the sale of another project into the trust, with plans to expand rental space for Built-to-Suit warehouses and factories to meet continuous demand. The response from tenants for new projects has exceeded expectations, and the company is confident it will meet its year-end target of 200,000 square meters.

Ms. Ratchanee Mahatdechkul, Managing Director of Prospect Development Co., Ltd., which develops and manages the 'Bangkok Free Trade Zone' project, stated, "Overall, our business in the first half has shown significant growth compared to last year, driven by strong recurring revenue from our core warehouse and factory rental business, alongside income from asset sales into the PROSPECT REIT, which has clearly propelled our performance. For the fourth quarter of 2025, we anticipate additional income from the sale of the BFTZ 6 Bangna-Trad Km. 19 project into the trust, valued at over 970 million baht, which is another quality project that has achieved 100% occupancy in its first phase."

Currently, PD manages a total of 1,143,000 square meters of warehouse and factory rental space across 9 projects, maintaining an occupancy rate above 95%. The company continues to attract interest from both Thai and foreign operators for warehouse and factory rentals, having closed deals for over 120,000 square meters with new tenants in the first half of the year.

Particularly, the BFTZ 4 Bangpakong project, with a total rental area of 190,000 square meters, has expanded its Free Zone project from the original site in Bangna-Trad, Samut Prakan, to a new milestone in Chachoengsao. The project is now 70% complete, catering to demand from the manufacturing, agriculture and food, electronics components, consumer goods, and technology industries, leading to a surge in space utilization. This creates opportunities for additional lease agreements in all new PD projects with strategic locations, high-quality buildings, and comprehensive services for the remainder of the year.

Regarding the progress of the BFTZ 8 Theparak project in Samut Prakan, which has a total rental area of 27,000 square meters, construction of the Ready Built buildings is underway, with the first phase expected to open in the second quarter of 2026. Meanwhile, the expansion of the BFTZ 10 Bangna-Trad Km. 20 project is progressing as planned, offering Built-to-Suit buildings tailored to customer needs. Additionally, the company is negotiating with several investors to invest in the Bangpakong industrial estate, another flagship project of PD, which will enhance revenue from land sales and leverage expertise in the Industrial Property sector, aiming to develop an Eco-Industrial Estate to support 7 targeted industrial groups in the future.

Announcing readiness to drive operational plans to stabilize the company's revenue structure, which will be divided into rental income, management income as a Property Manager, income from asset sales into the PROSPECT REIT as the main sponsor, and additional income from land sales in the industrial estate thereafter.

Regarding the impact of trade wars and the increase in import tariffs by the United States (Reciprocal Tariff), based on PD's track record, there is an acceleration of investment in Thailand during a period when tax figures have not yet been clearly defined, reinforcing Thailand's potential as a regional investment hub. The next challenge is to maintain existing investors and attract new ones, which requires collaboration from industrial space providers, investment promotion policies, and the development of public infrastructure to enhance the capacity to support targeted industries and future industries in establishing long-term production bases.

"The sustainability of PD's business lies in designing and developing comprehensive industrial spaces to meet the diverse needs of various industries, including production, storage, transportation, and distribution. Today, a strong network of operators has emerged within our projects, and approximately 88% of our factory tenants have consistently high contract renewal rates. We are confident that the performance in the second half of the year will grow well according to our plans," concluded Ms. Ratchanee.