Allied REIT has reported a total revenue of 386 million baht for Q2/2022, an increase of 29.6% compared to the same period last year. This growth follows investments in The Crystal Chaiprakarn shopping center and The Prime Hua Lamphong project, resulting in total assets rising to 13,536.2 million baht, with a net leasable area of 160,282.6 square meters. This performance defies the slowdown in business recovery affected by the inflation crisis and rising energy costs. The REIT declared a dividend of 0.1650 baht per unit.

Mr. Kwinthir Eamsakulrat, Managing Director of KE REIT Management Co., Ltd., as the manager of Allied REIT, revealed that the Q2/2022 performance showed total revenue of 386 million baht, an increase of 14.7 million baht or 29.6% from the same quarter last year, and a 4% increase from the previous quarter. The main reason for this growth was the additional investment in properties, including The Crystal Chaiprakarn shopping center and The Prime Hua Lamphong project, which contributed to rental and service income of 351.6 million baht, up 20.1% from the same period in 2021.

Currently, all 13 projects under Allied REIT have a high average occupancy rate of 93.2%, led by CDC Crystal Design Center at 99.7%, The Crystal (Ekkamai-Ramintra) at 98.2%, The Crystal SB (Ratchaphruek) at 95.7%, and Amorini (Ramintra) at 95.7%. Other centers, including Plenary (Watcharaphon), Sammakorn (Ramkhamhaeng-Rangsit-Ratchaphruek), Ampark (Chulalongkorn), The Scene (Town in Town), The Crystal (Chaiprakarn), and Kad Farang-Hang Dong, Chiang Mai, have occupancy rates ranging from 85-93%. In this fourth quarter, several well-known stores are set to open in various centers under Allied REIT.

Additionally, in Q2/2022, the REIT reported net investment income of 159.4 million baht, an increase of 4.5% from the previous quarter and up 41.7% from the same period last year due to additional property investments. The overall situation has improved, leading to increased rental and service income, including income from common area rentals in shopping centers. In Q2/2022, the REIT paid a benefit or dividend of 0.1650 baht per unit, totaling 144.2 million baht, representing a yield of 9.0% (as of the market closing price on August 10, 2022).

“Since the beginning of this year, the Thai economy has shown slight growth compared to the same period last year. The trade and service sectors are beginning to recover, and private sector investments are improving. However, inflation and rising energy prices continue to affect the cost of living and business expenses, limiting the recovery of the business sector. Additionally, the conflict between Russia and Ukraine exacerbates existing issues. The root cause of the current global inflation is the aftermath of the COVID-19 crisis faced by major industrial countries. For Allied REIT, our goal is to generate consistent high returns that exceed inflation and the rising interest rates. In this quarter, we were able to pay dividends of over 9%,”