An artist's rendition of Araya — The Eastern Gateway, a new industrial township spanning 4,631 rai on Bang Na-Trat KM 32 Road.

Industrial property developer Araya Land Development Co is maintaining its sales target of 400 rai for its project on Bang Na-Trat KM 32 Road this year, shrugging off a new government as long as policy continuity is ensured.

Kamonkarn Kongkathong, managing director of Araya, said the company already achieved nearly 70% of its sales target while battling the effects of both the tariffs by US President Donald Trump and the weak economy.

"The industrial sector has been more affected by Trump's policy than by domestic issues, as his policies are harder to control," she said. "However, our clients are well aware of Trump's unpredictability and are prepared to cope with it."

The Trump issue is both a positive and negative factor for the industrial property sector, said Ms Kamonkarn. While it weighs negatively on the global economy, it also encourages manufacturers to pursue greater diversification.

"Customers resumed [discussions and transactions] after the US tariff on Thailand was announced at 19%, as the announcement provided clarity," she said. "However, the industrial property business is unlikely to return to its 2023–24 peak. It is simply normalising."

Regarding political concerns as the country prepares to elect a new prime minister, Ms Kamonkarn said policy continuity and government support for the industrial sector are essential as they help sustain investor confidence.

After launching Araya -- The Eastern Gateway, an industrial-led township spanning 4,631 rai on Bang Na-Trat KM 32 Road earlier this year, the company has sold 275 rai of serviced land.

Of this, 125 rai was purchased by German semiconductor maker Infineon Technologies Manufacturing (Thailand), while 250 rai went to retailer MR. D.I.Y. (Thailand).

"We are likely to surpass our target, as we are in final talks with several new customers -- each potentially acquiring more than 50 rai -- in sectors such as logistics, semiconductors and medical supplies," she said.

The serviced land development for industrial properties will be carried out in two phases: phase one covering 1,400 rai and phase two covering 1,100 rai.

Although she could not disclose the selling price of serviced land within the project, she noted that serviced land in surrounding areas is priced around 13–15 million baht per rai, while undeveloped land is about 10 million baht per rai.

In addition to industrial estates, the project will feature a logistics park with a usable area of 40,000 square metres on 50–60 rai, developed by SET-listed Frasers Property (Thailand) (FPT), which also holds a 50% stake in Araya Land.

About 200 rai each will be allocated for residential projects and commercial areas, including community service centres, also to be developed by FPT.

The remaining 50% stake in Araya Land is held equally by SET-listed Rojana Industrial Park Plc and Asia Industrial Estate Co.

Revenue streams for Araya Land will come from land sales, water supply, solar power and rental income from retail spaces and logistics centres.