Bangkok, Apr 2, 2026 – Prospect Development Co., Ltd. (PD), a subsidiary of M.K. Real Estate Development Plc. and a leading developer and property manager of Bangkok Free Trade Zone (BFTZ), has announced 2026 business direction, underscoring the strong performance of its flagship BFTZ 4 project in Bangpakong, Chachoengsao. The project has achieved an occupancy rate of over 90%. Building on this momentum, PD is accelerating the development of the Bangpakong Industrial Estate in Chonburi to capture the next wave of investment in the Eastern Economic Corridor (EEC). The company also plans to expand its warehouse and factory for rent portfolio with three additional projects in existing strategic locations, with a total investment of THB 320 million, in response to surging demand. PD aims to increase its total leasable area to 2 million square meters.

Demonstrating strong resilience amid economic headwinds, PD reported total revenue of THB 1,225 million in 2025, representing a 67.6% year-on-year increase. The company also plans to divest assets into PROSPECT REIT worth over THB 5,040 million in Q2/2026 to strengthen its financial position and support sustainable growth.

Ms. Rachanee Mahatdetkul, Managing Director of Prospect Development Co., Ltd., said, “2025 marked a testament to PD’s resilience amid multiple challenges. We continued to deliver consistent growth through our core revenue driver warehouse and factory for rent which generate stable recurring income. As a result, total revenue grew by 67.6%, while EBIT reached THB 658.6 million, up 196% year-on-year.”

Strong growth defies headwinds, secures over 150,000 sq.m. of new leases

PD achieved a record-high occupancy rate of 96% across all projects, exceeding industry averages. Free Zone tenants accounted for 48% of total occupancy, while factory usage represented 60% of total space, supporting long-term lease commitments. The renewal rate stood at an impressive 98%, reflecting strong confidence in tenants.

The company secured approximately 150,000 square meters of new leases, prompting accelerated expansion to meet ongoing demand for ready built facilities. Leasing cycles have also shortened to 3–6 months, driven by manufacturing relocation, e-commerce growth, and sustained import-export activities.

While the core industries investing in Thailand remain largely consistent, investment patterns are shifting toward higher value-added sectors. Project sizes are becoming smaller, with a stronger focus on supply chain integration within Thailand and ASEAN, as well as follow-on investments from major manufacturers. These trends are expected to be key drivers of demand for factories for rent space and industrial estates in 2026.

“Beyond our strong performance, PD also achieved a key milestone last year as previously announced, with total managed and leased area across all projects surpassing 1 million square meters. This is underpinned by our core strength in Free Zone space, which now exceeds 460,000 square meters, offering import-export privileges that enhance our clients’ competitiveness. We are now moving forward toward our next target of reaching 2 million square meters in the future,” said Ms. Rachanee.

BFTZ 4 success accelerates industrial estate expansion, with B8.5bn land sales target

For its 2026 business direction, Prospect Development is focused on driving the next wave of growth with resilience amid ongoing transitions. The company aims to maintain an occupancy rate of over 90% while securing approximately 150,000 square meters of new leases.

PD will continue expanding through its “Industrial Hub-Driven Growth Model,” designed to support businesses of all sizes across strategic locations. This includes developing flagship projects in key areas such as BFTZ 1 Bangna–Trad KM.23 and BFTZ 4 Bangpakong, both large-scale Free Zone developments with strong connectivity to ports and airports, enabling efficient import-export operations. The strategy further extends to cluster development by expanding projects in nearby areas, alongside enhancing project quality, service standards, and infrastructure, including high-capacity power systems and high-speed connectivity, to attract businesses within the same supply chain and support long-term growth.

A key highlight is the success of BFTZ 4 in Bangpakong, Chachoengsao—PD’s second flagship Free Zone project, expanding from its stronghold in Samut Prakan. Located on Bangna–Trad Road KM.53, the project spans approximately 190,000 square meters, with nearly 80% designated as Free Zone. The project has been fully completed and has achieved over 90% occupancy rate, attracting tenants from manufacturing, agro-industrial, electronics, consumer goods, and technology sectors.

Meanwhile, PD’s new growth driver, the Bangpakong Industrial Estate, covers approximately 1,000 rai in the strategic EEC zone. Officially launched last year, the project has now received Environmental Impact Assessment (EIA) approval and is currently under infrastructure development. It targets total land sales of approximately THB 8.5 billion and is in active discussions with multiple investors. The company also plans to conduct roadshows to attract investors from Taiwan, Japan, and other countries. Full operations are expected to commence, with revenue recognition starting from 2027 onward.

PD to expand with three new projects in 2026, plans over B5bn REIT asset sale

In its warehouse and factory for rent projects, PD plans to expand its footprint with three new projects in locations adjacent to its existing developments, with a total investment of approximately THB 320 million. This expansion aims to strengthen its project network and better serve growing demand from industrial operators:

• BFTZ 8 Thepharak: total leasable area of 27,000 sq.m., expected completion in 2026
• BFTZ 9 Bangna–Trad KM.20: approximately 42,000 sq.m., a built-to-suit project currently under negotiation with client
• BFTZ 10 Wang Noi: approximately 50,000 sq.m.

In addition, PD expects to inject assets from the BFTZ 4 Bangpakong project into PROSPECT REIT in Q2 this year, with a total value of up to THB 5.04 billion and a total leasable area of approximately 187,949 sq.m. PD will continue to play a key role as property manager, ensuring seamless tenant management and operational continuity.

“We see strong opportunities from the ongoing relocation of manufacturing to Thailand, as well as the emergence of future industries such as EV, clean energy, data centers, robotics, and digital technologies. As the flagship of the M.K. Group, PD is not just a space provider—we are building a platform that powers industrial growth through modern infrastructure and integrated services, By transforming Free Zone developments and enhancing ease of doing business, we aim to help drive Thailand’s economy forward ensuring long-term resilience and strengthening the country’s competitiveness at the regional level,” Ms. Rachanee added.