Property-Logistics /Sena-Mitsubishi

Sena forms a joint venture with Mitsubishi Logistics of Japan for logistics business expansion

Editorial staff

SET-listed SENA Development Plc (SENA) has teamed up with with Mitsubishi Logistics Corporation of Japan to expand into logistics business, aimed at increasing more recurring income.

The joint venture company, named SENA MLC 1 Co, is established with registered capital of 180 million baht to develop the ready-built warehouse and factory in Bangna KM.23, marking Mitsubishi Logistics' first joint venture in Thailand. SENA holds 51% stake and 49% by Mitsubishi Logistics Corporation.

Asst. Prof. Dr. Kessara Thanyalakpark, SENA’s managing director

Asst. Prof. Dr. Kessara Thanyalakpark, SENA’s managing director, said that according to data from the Economic and Business Research Center, Thailand's warehouse industry is expected to continue growing in 2025. The amount of leased warehouse space is projected to increase by around 9.3% year-on-year due to rising demand, especially in the Eastern Economic Corridor (EEC), which is a regional hub for industry and logistics. Additionally, the global trend towards smart warehouses powered by automation and clean energy solutions is further boosting the potential of the Bangna KM.23 location, a strategic location that can connect to the airport and port, and is also a gateway to the EEC zone, making it an ideal area for supporting industrial growth and attracting foreign investments.

This aligns with Sena’s vision to expand its business. Sena Group has experience in managing urban warehouses, such as the Sukhumvit 50 warehouse, which has consistently maintained a high occupancy rate. Sena is focused on the logistics business, offering smart storage and warehouse services in high-potential locations through Sena Metrobox Co.

The new project will be developed on 25 rai plot with 40,000 square metres by the end of this year and complete next year.

“We buy this plot land in purple zone two years in advance not for responding to the current’s economy but we saw the potential of industrial estate as well as we want to expand business from B2C to B2B, expecting to boost recurring income of 5% of the total revenue,” Ms Kessara said.

She adds that the joint venture with Mitsubishi Logistics marks the next step in expanding into large-scale industrial warehouses, strengthening Sena’s position in the logistics market.

“It is the right time to use our long experience in property development in Thailand in term of and acquisition, project development, and construction cost control to expand logistic business with Mitsubishi Logistics, who is an expert in logistics and lease management,”she said

Hidechika Saito, president of Mitsubishi Logistics Corporation

Apart from warehouse business, the joint venture company also plan to develop industrial estate and logistic park within 2030.

Though it has substantial new logistic development in the East of Bangkok, SENA MLC 1 Co has enough competitiveness because of its location, price, space utilities, believable of SENA and Mitsubishi as well as the most eco-friendly operation. Rental price is set at 165-215 baht per square metre.

The new warehouse with space of 25,000 square metres, is being developed with a focus on becoming a next generation warehouse that prioritizes sustainability and smart technology. The project will adopt the net zero warehouse/factory concept from design through to space management after tenants move in. This includes low-carbon design and materials, solar energy technology, preparation for electric vehicle (EV) infrastructure, and a carbon footprint tracking system with international standards. The aim is to encourage all parties, including developers, supply chain partners, and tenants (both individuals and organizations), to achieve their carbon neutrality goals.

Sena’s experience in developing sustainable residential projects, such as Zero Energy House (ZEH) and SENA Low Carbon, will also be applied to this warehouse and logistics project, aligning it with sustainable development goals, ESG standards, and reducing environmental impacts. This approach is in line with our business philosophy under the 'Sustainable Development' concept. Therefore, this joint venture is not only an expansion of our business but also contributes to elevating the standards of the Thai logistics industry.

Hidechika Saito, president of Mitsubishi Logistics Corporation, said: "We believe that the partnership with Sena will generate extremely high synergies by combining Sena's extensive experience and expertise in real estate development in Thailand and Mitsubishi Logistics' know-how in the construction and operation of logistics facilities. We also believe that this joint venture will strengthen the partnership between the two companies. We hope that this strong partnership will lead to sustainable business expansion, maximize the strengths of both companies, and provide new value to the logistics and real estate markets in Thailand. We at Mitsubishi Logistics aim to make a positive contribution to the Thai economy through development projects in partnership with Sena. Through the development of logistics facilities, we hope to strengthen local infrastructure, create employment opportunities, and ultimately contribute to the revitalization of local communities."