• Frasers Property Thailand announced its Q3 performance (July-September 2021) with total revenue of 3.443 billion baht and a net profit of 151 million baht. The total revenue for the first nine months (January-September 2021) reached 11.57 billion baht, with a net profit of 1.12 billion baht. This underscores the strength of its comprehensive real estate platform, enabling revenue generation from multiple channels and diversifying business risks. It also demonstrates the company's ability to effectively cope with uncertainties and the prolonged COVID-19 situation.
  • The portfolio of the industrial and commercial real estate business continues to grow steadily, with average occupancy rates of 85% and 91% for office buildings, respectively. The portfolio is further strengthened by the new mixed-use project, Silom Edge, located in the heart of Bangkok, to meet the demand of digital-age customers.
  • The residential real estate business group has adjusted its business strategy and expanded its segment by targeting high purchasing power customers. The recent success of the Grandio Sathorn project, a luxury home with a new design, achieved pre-sales of 688 million baht within the first two days, resulting in total sales of 23.322 billion baht for the first nine months of 2021.

Frasers Property (Thailand) Public Company Limited or FPT, the first comprehensive real estate service provider in Thailand, continues to demonstrate its ability to handle uncertainties and the prolonged COVID-19 situation effectively. By integrating the residential, industrial, and commercial real estate business groups (Synergy), the company has enhanced management efficiency and risk diversification, as reflected in its Q3 performance (July-September 2021) with total revenue of 3.443 billion baht and a net profit of 151 million baht.

Mr. Thanapol Sirithanachai, Country Chief Executive Officer of Frasers Property (Thailand) Public Company Limited, stated, "The company drives its business according to the One Platform strategic plan and proactive management while effectively controlling expenses. We focus on maintaining financial liquidity while continuously generating cash flow from a balanced investment portfolio that covers various asset types, which helps diversify risks under challenging circumstances. The company is confident that the Thai economy will improve following the vaccination rollout and the easing of lockdown measures. FPT is ready to accommodate the return of market demand with its comprehensive real estate platform services and the ability to meet the evolving needs of customers in the post-COVID era."

For the performance in the three-month period (July-September 2021), the company reported stable revenue of 3.443 billion baht, contributing to a total revenue of 11.57 billion baht for the first nine months (January-September 2021). Additionally, the company has significantly reduced costs and total expenses.

The "Frasers Property Industrial" and "Frasers Property Commercial" business groups recorded total revenue of 1.618 billion baht for the first nine months (January-September 2021). The industrial real estate business continues to benefit from the growth of e-commerce, the expansion of the export sector, and investors relocating production bases to manage supply chains effectively. Moreover, the ongoing shortage of shipping containers has increased demand for short-term warehouse rental space, resulting in a current factory and warehouse occupancy rate exceeding the target at 85%. Meanwhile, the commercial real estate business has been partially affected by tenants impacted by the COVID-19 crisis, although the leading office buildings maintain a high average rental rate of 91%.

The severe and prolonged COVID-19 outbreak, particularly during the last quarter, has impacted the "Frasers Property Home" business group due to lockdown measures that led to the closure of worker camps and delays in construction. This has resulted in the postponement of the opening of three projects to Q4 2021 and Q1 2022. However, a new project scheduled to open in Q4 2021 remains on track. Additionally, the residential business group has adjusted its strategy by developing house models targeting high purchasing power markets. The Grandio Sathorn project, a luxury home with a new design launched in August, received overwhelming responses and achieved pre-sales of 688 million baht within the first two days, resulting in total sales of 23.322 billion baht over the nine-month period.

FPT is committed to driving sustainable growth under governance principles while maintaining the global brand standards of Frasers Property. In the past quarter, the company received a credit rating upgrade from TRIS Rating to A with a stable outlook and has been recognized with three ESG (Environmental, Social, Governance) standards in 2021, including being selected as one of the sustainable stocks, achieving a 5-star "Excellent" CG Rating, and receiving a GRESB rating of A for sustainability disclosure in the Southeast Asia Diversified Business category. All of these affirm the strength of the comprehensive real estate platform.

Financial Performance for the 9-Month Period (January - September)

Financial Performance for Calendar Q3/2021 (July - September)