Thailand: True Corp invests $15.3m to create regional digital hub

True Corporation, a Thai communication conglomerate, has invested 500 million baht ($15.3 million) in setting up True Digital Park as the digital hub in Southeast Asia.

Located on Sukhumvit Road near Punnawithi sky train station, True Digital Park is part of the Whizdom101 mixed-use development covering a total space of 77,000 square metres. Of that, 40,000 square metres is ready for the first phase and the rest is expected to be completed by 2022.

The project will also include a co-working space with total space of 30,000 square meters, claimed to be the world’s largest co-working space.

Thanasorn Jaidee, president of True Digital Park, a subsidiary of True Corp, told local media that it expected the first phase would be fully occupied before its opening by the end of 2018.

It targets to attract global tech giants who plan to set up their offices, labs and training centres in Bangkok so that they can work closely with startups and investors in region.

The competition of co-working space business in Thailand has become fierce as both international players and telecom operators make inroads into this business.

At present, there are over 100 co-working space operators including Glowfish, Draft Board, Meticulous Offices and Cluster Offices, Kloud, Pencave and BIGWork. Recently, the listed property developer Sansiri also announced its inestment in JustCo, which has a plan to expand into Thailand as well.

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