Industrial estate developer Pinthong Industrial Park Plc is planning to develop two new estates to serve foreign business expansion in the country, driven by the impact of geopolitical conflicts and the growth of data centres.
The new estates -- Pinthong Industrial Estate 9 and 10 -- span a total of 3,000 rai of land in the eastern province of Rayong.
"We see an upward trend in foreign investment, so we decided to develop new facilities to serve investors," said Sujin Rienvirijakit, chief financial officer and executive director of Pinthong Industrial Park.
The government's investment promotion policy and investment incentive packages have played an important role in attracting foreign entrepreneurs, he said.
Prospective investors can relocate or expand their production facilities into Thailand to avoid the impact of geopolitical conflicts in certain regions, said Mr Sujin.
He expects to see more investment in data centres, smart electronics, electric vehicles (EVs), batteries and logistics in Thailand next year.
As households and businesses tend to carry out a range of activities on online platforms, data centres are needed to facilitate their work.
A data centre is a network of computers that stores, processes and distributes data.
Pinthong Industrial Park earlier announced it had teamed up with the Industrial Estate Authority of Thailand to jointly develop a new 2.2-billion-baht industrial estate to serve manufacturers in S-curve industries.
Named Pinthong Industrial Estate 7, this industrial complex covers 1,059 rai in Chon Buri.
Among the targeted industries are auto parts, medical equipment, electronics and renewable energy.
Parts of Chon Buri, Rayong and Chachoengsao form the Eastern Economic Corridor, which will be developed into the country's high-tech industrial hub, hosting 12 targeted S-curve industries, including new-generation cars and smart electronics.
Pinthong Industrial Estate 7 is scheduled to start commercial operations in the second half of 2025 to serve companies, including those granted investment incentives by the Board of Investment, according to Pira Patamavorakulchai, chief executive of Pinthong Industrial Park.
Chinese investors will continue to increase in Thailand, where EVs and their supply chains are growing, said Mr Pira.
In the third quarter of this year, Pinthong Industrial Park saw its revenue increase by 23% year-on-year to 958 million baht, with profit rising by 32% year-on-year to 476 million baht, thanks to more industrial land sales.
During the first nine months of this year, the company's revenue soared by 88% year-on-year to 3.15 billion baht, with profit surging 99% to 1.34 billion baht. Both the revenue and profit were new records for the company.