FTREIT strengthens position as the leading REIT in Thailand with a portfolio of THB 44,000 million following its completion of the THB 800-million-asset acquisition
- FTREIT invested THB 800 million to acquire strategically-located high-potential assets from Frasers Property Thailand
- Following the completion of the acquisition, FTREIT solidifies position as the leading REIT in Thailand with assets under management of THB 44,000 million
BANGKOK, 24 SEPTEMBER 2021
Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” announced the completion of the acquisition of THB 800 million worth of high-potential assets from Frasers Property Thailand in September 2021.
The new assets comprise six factory and warehouse buildings spanning 34,269 sqm on a 46-rai, 56 square wah land plot. Enjoying a full occupancy rate, buildings are located in strategic locations in Bangkok, Ayutthaya and Chonburi province.
After the acquisition completion, the portfolio value of THB 44,000 million reinforces Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT)’s position as the leading REIT in Thailand with assets under management totaling 642 units representing 2.06 million sq.m., all of which are in the strategic industrial and logistics hubs in Ayutthaya, Pathum Thani, Samutprakarn, Prachinburi, and the Eastern Economic Corridor.
Mr. Peerapat Srisukont, Managing Director of FIRM, the REIT Manager of FTREIT, said, “As the REIT manager, we focus on driving a continuous growth of FTREIT. The assets under this acquisition enjoy a 100% occupancy rate and strategic high-potential locations. The existing tenants are companies in industries such as medical devices, logistics, garment and lighting equipment. To ensure that assets are taken care of by professionals, we continue to appoint Frasers Property Thailand, with its well-established experience and expertise, as the property manager. We believe that their well-established experience and strong expertise will support FTREIT in property management.
Moreover, In the next fiscal year, we plan to continuously acquire more high potential assets from FPT and other parties to enhance our portfolio value. We will continue to adopt a proactive capital recycling strategy and strengthen our leading position in the REIT landscape in the country.”
