Prospect REIT Management Co., Ltd., the manager of the Prospect Logistics and Industrial Real Estate Investment Trust, or "PROSPECT REIT," has announced its Q1 2022 performance, showing a bright outlook with total operational revenue of 109.6 million baht, an increase of 1.51% from the same period last year. The net investment profit reached 70.9 million baht. Currently, PROSPECT REIT has an occupancy rate of 93.4% for its factory and warehouse spaces and is preparing to announce a distribution to trust unit holders in the form of returns and capital repayment at a rate of 0.2275 baht per unit, scheduled for payment on June 10. The trust aims to maintain a yield of approximately 8-9% this year, which is above the overall market average.

Ms. Oranong Chaitong, CEO of Prospect REIT Management Co., Ltd., as the trust manager, stated, "In Q1 2022, PROSPECT REIT maintained a high occupancy rate above 90%, which is higher than the average occupancy rate in the Bangna-Trad area, despite facing various external factors such as economic impacts, the aftermath of the Russia-Ukraine war causing oil price fluctuations, and the COVID-19 situation. We have a strong EBITDA margin, reinforcing the high quality of the assets in which the trust invests, whether in terms of location, property condition, or even the tenants within the projects."

The growth factors for PROSPECT REIT stem from the diversified tenant base, which primarily consists of industries that align well with current market demand, including transportation, e-commerce, and the food sector, which continues to grow against the trend. Within the projects, the largest group of operators is in the paper business, accounting for 14.3%, followed by food businesses, recycling, plastic industry, and logistics services, resulting in a consistently high occupancy rate.

Additionally, most of the trust's assets are located in the Bangkok Free Trade Zone (BFTZ) on Bangna-Trad Road, km 23, which is a strategically important logistics area in the country. This has attracted existing tenants to renew contracts at over 85% consistently, along with new tenants in the food business signing additional contracts.

"For our growth plan in the second half of the year, PROSPECT REIT will continue to maintain a diverse tenant base across various industries, primarily from Japan, Thailand, and China, while seeking new tenants in related businesses to strengthen existing tenants, such as manufacturing, transportation, and packaging. Moreover, PROSPECT REIT has plans to increase capital to expand the asset value of the trust and is currently studying the feasibility of acquiring more freehold investment properties, which will benefit PROSPECT REIT's operations in the long term. At the same time, our strategy is not limited to investing in properties from existing sponsors but is also open to properties outside that group, as we are an independent trust manager always looking for high-potential real estate investment opportunities," Ms. Oranong added.

After rebranding to "Prospect Logistics and Industrial Real Estate Investment Trust" in March, PROSPECT REIT will continue to enhance its quality assets while managing the trust efficiently to create growth and deliver consistent returns to unit holders.