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Asset Management / Wealth Management
Harman starts plant construction at ESR Thailand park
Samsung subsidiary to manufacture automotive electronics and audio products at Laemchabang facility
The Asset 21 Jun 2024

Hong Kong-listed real asset manager ESR Group and Harman International, a US car systems and audio electronics subsidiary of Samsung Electronics, have broken ground on a manufacturing facility in Thailand.

Expected to be completed in 2025, the 47,000-square-metre complex is being built at the ESR Asia Laemchabang logistics and industrial park in Thailand’s Eastern Economic Corridor, just 15 minutes from a major deep seaport for international trade.

The plant will manufacture highly sophisticated connected car solutions, including automotive electronics and audio products, for the domestic and international markets. It will house multiple assembly lines, office spaces, and ancillary amenities for approximately 1,200 workers initially.

Aligned with the country's goal to become a high-technology industrial economy and its bio-circular-green economic development concept, the Harman facility aims to achieve a Gold certification in Leadership in Energy and Environmental Design (LEED), a globally recognized green building rating system.

ESR says all its assets in Thailand incorporate human-centric features, renewable energy generation, electrification of logistics fleets, water-efficiency management, and carbon footprint reduction.

“We are delighted to be Harman’s preferred development partner and to support their business expansion and foray into Thailand with our active local expertise and strong operational excellence,” says Jai Mirpuri, head of Southeast Asia at ESR Group.

“Together, our investment and cooperation will boost Thailand’s high-technology transformation ambition and drive growth. In all we do to provide space and investment solutions for a sustainable future, our aim is to be the trusted developer and real asset manager for customers and investors alike.”

A flagship semiconductor facility for Nasdaq-listed Advanced Energy is also being constructed at ESR Asia Laemchabang, and is expected to be completed in the fourth quarter of this year.

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