ALLY REIT showcases its Q2 2021 performance with total revenue of 297.81 million baht, reflecting a growth of approximately 75% compared to last year, and a profit of 112.50 million baht, which is nearly a sevenfold increase from the same period last year. Despite the impact of the COVID-19 pandemic on occupancy rates, the overall performance in the first half of the year remains strong. In Q2 2021, additional real estate investments were made into the trust, and looking ahead to the second half of 2021, although the COVID-19 situation remains a risk factor, there is confidence that the adjustments made to prepare for the city reopening trend will lead to a swift recovery.

Mr. Kwinth Eamsakulrat, Managing Director of KE REIT Management Co., Ltd. (part of KE Group), as the manager of the ALY REIT, revealed that Q2 2021 marks a quarter demonstrating the strength of the trust amidst

the ongoing impacts of stricter government measures to control the COVID-19 outbreak, which have affected many businesses significantly and for an extended period. This has resulted in approximately 72% of the trust's tenants being operational. However, customer foot traffic at the trust's shopping centers has increased to 104% of the normal levels prior to the COVID-19 outbreak, as the trust's shopping centers are open-air, located in residential communities, and cater to a diverse range of businesses.

For the operational results, the occupancy rate in Q2 2021 increased by 2.8% to 93.3% compared to Q2 2020, and the average rental and service rate rose by 0.4% from the previous quarter. To support tenants, the trust provided an average rental and service discount of about 20%, resulting in a net average rental and service fee of 419 baht per square meter in Q2 2021.

“Overall, the performance in Q2 2021 is at a satisfactory level, despite the impacts of COVID-19. We have implemented core strategies to retain tenants (Synergy Made Growth) throughout the year, which has mitigated the impact significantly and allowed us to quickly find new tenants,” Mr. Kwinth stated.


Mr. Kwinth Eamsakulrat, Managing Director of KE REIT Management Co., Ltd. (part of KE Group)

For the second half of the year, although the COVID-19 outbreak remains a primary risk factor that requires continuous monitoring, there are plans to adjust strategies in various areas, such as collaborating with delivery platforms to increase revenue from supplementary channels, reducing costs through centralized management, and investing over 15 million baht in renovating the Plearnary and M Park shopping centers, with the renovations expected to be completed by the end of Q3 to welcome customers after the city reopens.

Mr. Kwinth concluded, “We are continuously adapting while keeping a long-term perspective, which allows us to prepare for the city reopening once again, whether it’s finding new tenants in businesses that will benefit from the reopening, such as restaurants, clinics, or schools. Therefore, we believe that in the second half of the year, despite the risk factors, the strong tenant base and rapid adaptability should help sustain growth in our performance.”

Currently, the ALY REIT manages a total of 11 commercial shopping centers in Bangkok, the surrounding areas, and Chiang Mai, with a total net leasable area of 146,889 square meters and an estimated asset value of over 12.7 billion baht.