BANGKOK, 14 JANUARY 2020

Midea Refrigeration Equipment (Thailand), a subsidiary of Midea Group which is a leading global home appliance provider based in China, has completed a sale and purchase agreement of 130 rai of land in Chonburi province with Frasers Property (Thailand) Public Company Limited (“FPT”), a leading provider of integrated real estate platform. The land will be developed into Midea Group’s largest home appliance manufacturing hub and largest intelligent technology manufacturing hub outside of China.

Mr. Sopon Racharaksa, President of FPT, shared: “This cooperation reflects Midea’s confidence in FPT’s local network and real estate capabilities including our landbank. The subject land is strategically located in close proximity to existing high value industrial clusters, deep sea port and our logistics parks. We are delighted to be working with Midea to enable the development of an intelligent technology manufacturing hub in Thailand’s fast-growing Eastern Economic Corridor. FPT currently has a landbank of over 300 rai located adjacent to this land plot, and we further plan to develop additional industrial and logistics spaces to support upcoming demand from relocation into this area. We expect that this cooperation will generate growth in the Eastern Economic Corridor and support Thailand’s ambition to increase its competitiveness in the industrial sector.”

FPT is Thailand’s leader in industrial property business with over three decades of experiences, and our expertise and capabilities go beyond brick-and-mortar. With our customer-centric approach, we are able to deliver integrated solutions that meet to the evolving needs of our customers across industries,” Mr. Sopon concluded.