Prospect REIT Management Co., Ltd., the trustee manager of the Prospect Logistics and Industrial Real Estate Investment Trust, or “PROSPECT REIT”, continues to demonstrate strong performance. Recently, it announced its Q1/2023 operational results with total revenue of 115.92 million baht, an increase of 5.79% compared to the same period last year. At the same time, it reported a net investment profit of 70.10 million baht, signaling positive developments from two new projects invested in at the end of the first quarter of this year. Currently, the occupancy rate is fully booked at 100%, resulting in a bright outlook for PROSPECT REIT in 2023 as the economy recovers, with plans to drive consistent growth and returns.

Ms. Oranong Chaitong, Chief Executive Officer of Prospect REIT Management Co., Ltd., as the trustee manager, stated, “The Q1/2023 performance remains strong, with most revenue coming from the existing properties of the trust, along with some income recognized from new assets invested in from March 22, 2023, to March 31, 2023 (a period of 10 days). Additionally, in the two new projects, Bangkok Free Trade Zone 2 (BFTZ 2) on Theparak Road and Bangkok Free Trade Zone 3 (BFTZ3) on Bangna-Trad Road Km. 19, tenants have fully booked the spaces, reflecting the quality of PROSPECT REIT's assets. This will support growth in terms of revenue, occupancy rates, and outstanding returns. For the operational cycle of PROSPECT REIT in 2023, we will recognize the performance of the new assets for the entire quarter starting from Q2/2023 onwards, and we are confident that we will be able to deliver the expected returns.”

Regarding the occupancy rate, the factory and warehouse spaces of PROSPECT REIT across four projects located in strategic industrial and logistics areas of Thailand, specifically in the Bangna-Trad zone, have an occupancy rate of 95.5%. This aligns with the growth trend of the industrial sector and the opportunities for foreign investors looking to relocate electric vehicle (EV) production, electronic components, and related businesses into Thailand. According to the industrial production index for Q1 2023, it stands at 101.07, expanding by 7.40% compared to the previous quarter. Data from the Department of Business Development indicates that in the first two months of 2023, foreign investors have invested a total of 26.756 billion baht in Thailand, an increase of over 305% compared to the same period last year, driving the growth of the Thai industrial sector.

PROSPECT REIT is preparing to distribute returns from net profits from operations from January 1 to March 31, 2023, and retained earnings at a rate of 0.1320 baht per trust unit, with payment scheduled for June 9, 2023. The ex-dividend date (XD) will be announced on May 29, 2023.

“The potential locations and opportunities for foreign investment remain key factors driving the industrial real estate sector. The strengths of the assets under PROSPECT REIT not only lie in their location in purple zones, which allow for industrial operations including factories and warehouses, but also in the variety of buildings that meet tenant needs and the presence of Free Zones, attracting leading tenants across various industries such as paper, food, logistics services, automotive components, and batteries, which have growth potential alongside the EV business. Currently, PROSPECT REIT manages a total area of 292,332 square meters, with total asset value at 5,464.92 million baht. Moving forward, the trustee manager plans to study the feasibility of quality assets in strategic locations for other projects to expand the total asset value to 10,000 million baht by 2024, according to the established roadmap,” Ms. Oranong added.