Thai Factory Development Public Company Limited (TFD) was established in 1977 by a joint venture between The Industrial Finance Corporation of Thailand (IFCT) and the England-based Commonwealth Development Corporation (CDC). The company was listed in the Stock Exchange of Thailand in 1991 in the property development classification and became a public company on February 4, 1994. Recently, TFD has increased its registered capital to 760 million baht for investment in new project.

Administrative authority remained in the hands of major shareholders, IFCT, until 2001 is under the directing Thai Fa Holding Co., Ltd. and associate, a construction company, participated in the company administration.

The company concentrated on its core business - developing land and ready-made standard factory for sale and rent in industrial estates or industrial zones in Bangkok and vicinity. In 1996, the company started residential and commercial development in Navanakorn Industrial Promotional Zone. At present, the company has extended its business opportunities and gained additional revenue by invest in Serviced Apartment and Condominium business in Bangkok's Central Business District.