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Thai warehouse developer WHA says may beat industrial land sales target
April 18, 2017 / 8:13 AM / 8 months ago

Thai warehouse developer WHA says may beat industrial land sales target

BANGKOK, April 18 (Reuters) - WHA Corporation Pcl, Thailand’s biggest warehouse developer, is expected to beat its 2017 target for land sales at its industrial parks after a strong first quarter, its top executive said on Tuesday.

The company has already sold 600 rai (237.2 acres) of land in the first quarter of this year, about 43 percent of the whole year’s target of 1,400 rai, Jareeporn Jarukornsakul, group chief executive, told Reuters.

Last year, it sold 830 rai of land worth 2.43 billion baht ($70.7 million).

WHA is in talks to sell land to several investors from China, Japan and Europe, and expects to concludes deals in the middle of the year, Jareeporn said.

Last year, WHA acquired Hemaraj Land and Development, Thailand’s biggest industrial estate developer, which operates nine industrial parks with a combined area of 46,434 rai - eight of them in eastern Thailand. ($1 = 34.37 baht) (Reporting by Wirat Buranakanokthanasan; Writing by Orathai Sriring; Editing by Gopakumar Warrier)

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