In the context of investing during the ongoing COVID-19 crisis, which remains sensitive and with an uncertain economic recovery timeline, there is one REIT that has notably thrived amidst the turmoil: PROSPECT REIT, a newcomer established in August 2020.

Not only did it launch recently, but it was also born and grew during the COVID-19 pandemic, continuously expanding. In every quarter, it has consistently paid out distributions to unit holders and is confident in achieving satisfactory operational results and distributions as projected during its IPO.

Ms. Oranong Chaitong, CEO of Prospect REIT Management Co., Ltd., as the REIT Manager of PROSPECT REIT, stated, "The new wave of COVID-19 has had a broader impact, yet PROSPECT REIT's performance continues to show growth. This is due to the diverse tenant base in the Bangkok Free Trade Zone (BFTZ), which spans various business sectors and nationalities, with many not significantly affected, and some even benefiting positively."

New tenants in the BFTZ project have been referred by long-standing existing tenants, thanks to the prime location and comprehensive premium services that enhance business convenience (One Stop Service). We do not only manage the leased spaces but are also ready to provide advice and assistance in any situation. Currently, we are coordinating vaccine arrangements for our tenants, resulting in a rental rate of 98.2% and a total distribution of 0.9710 baht per unit to date."

The REIT Manager of PROSPECT REIT attributes its clear success to a well-defined asset management policy. As a professional REIT Manager, Prospect REIT Management prioritizes the selection of investment properties, the management of existing assets, and future investment opportunities.

“At Prospect REIT Management, we have a team with direct experience in property management and investment, having worked in real estate development and investment finance. Our growth stems from direct involvement in operations, fund management, tenant relations, and REIT management, providing us with a deep understanding of this business.

We emphasize the quality of assets, tenant relationships, service provision, and operational systems, not just focusing on investment returns. When assets are of high quality and have a solid operational foundation, and tenants have strong business fundamentals, those assets can be utilized effectively and sustainably. This is evident in the current BFTZ project under our management, which has shown consistent and strong performance. We will apply the same principles to future investments, whether they are from existing sponsors or other property owners,” Ms. Oranong stated.

Another aspect of professional management at Prospect REIT Management is our independent investment policy. Although Prospect Development, our parent company, has a growing portfolio of factory and warehouse rental properties, we maintain the independence to explore and invest in assets from other sponsors. If we identify quality assets that meet our criteria, we can invest accordingly. In the past, several other sponsors have expressed interest in presenting their properties for our feasibility studies, and we apply the same evaluation standards.

“In the past, several property developers and other sponsors have approached us to invest additional assets in PROSPECT REIT. We provide guidance and knowledge about REITs, especially for newcomers unfamiliar with the REIT market. We advise on how to prepare those assets to ensure they are ready and free of future issues, or for those not prepared for asset management,” she added.

“With our team at ‘Prospect Development,’ we have professional real estate management capable of managing those assets. The advice we provide does not come with any obligation or commitment that those assets must enter PROSPECT REIT once they are ready. We believe that regardless of which REIT those assets join, it will positively impact the REIT market in our country,” she concluded.

“For existing investors or unit holders, we are ready to provide consultation and information, offering multiple contact channels including phone, email, and our Facebook Page: https://www.facebook.com/ProspectRM as an additional avenue.

We are committed to providing investors with as much accurate and comprehensive information as possible to ensure clarity and peace of mind in their investments, both for existing unit holders and new investors before making investment decisions. All of this reflects our intention to be a Professional REIT Manager,” Ms. Oranong concluded.