Mitsui Fudosan starts 1st overseas logistics project in Thailand
BANGKOK, NNA - Major Japanese real estate firm Mitsui Fudosan Co. has launched its first overseas logistics center project in Thailand to capitalize on growing economic integration of the Southeast Asian region.
Mitsui Fudosan said Wednesday its subsidiary, Mitsui Fudosan Asia (Thailand) Co., has started work on the first phase of a four-phase Bangpakong logistics facility project in Chachoengsao Province, about 60 kilometers east of Bangkok.
The Tokyo-based real estate firm said it will build eight storehouses in the four phases on a 299,000-square-meter tract of land, with the first phase slated for completion in November and the fourth and final phase in 2023.
The Mitsui Fudosan group will hold a 49 percent stake in the project while Frasers Property Industrial (Thailand) Public Company Ltd., a subsidiary of Frasers Property (Thailand) Public Company Ltd. belonging to conglomerate Thai Charoen Corporation Group, will hold the remaining 51 percent share, Mitsui Fudosan said without releasing investment amounts.(NNA/Kyodo)