The SEC has initiated the filing for WHA Premium Growth Property Fund ("WHART") for its 7th capital increase to invest in real estate, leasehold rights, and sublease rights for additional properties across 5 projects, with a total value not exceeding 4,050.86 million baht. Highlighting the potential of assets located in strategic transportation hubs and tenants from leading companies, Trust Manager "Anuwat Jarukornsakul" is confident that these assets can provide stable returns for investors in the long term, while supporting the total asset value after the increase to reach 51,956.40 million baht, reaffirming its position as the largest industrial trust in Thailand.

Mr. Anuwat Jarukornsakul, CEO of WHA Real Estate Management Co., Ltd. as the Trust Manager of the WHA Premium Growth Property Fund
disclosed that despite the COVID-19 pandemic over the past two years, WHART's performance has remained strong due to its core tenants being primarily in e-commerce, logistics, and consumer goods sectors, which have benefited from the crisis and experienced growth. As a result, WHART has maintained an average occupancy rate of no less than 90%, alongside consistent distributions to unit holders.

"In the first half of 2022, WHART's occupancy rate increased to approximately 92%, along with a lease renewal rate exceeding targets, attributed to the improving COVID-19 situation. We believe that once the country reopens, foreign investors will find it easier to invest in the industrial sector, positively impacting the overall economy and WHART as well."

Recently, the Securities and Exchange Commission (SEC) has approved the filing for the sale of WHART units for the 7th capital increase of up to 245 million units to invest in additional properties in the 8th round, with a total value not exceeding 4,050.86 million baht, and it is expected that the sale of the increased units will occur in the fourth quarter of 2022.

The properties that WHART will invest in this time include investments in assets from WHA Corporation Public Company Limited ("WHA"), each project distinguished by its strategic location as a logistics hub in Thailand, close to Bangkok and the Eastern Economic Corridor (EEC), with convenient access to Suvarnabhumi Airport and Laem Chabang Port. The five projects include:

WHA Mega Logistics Center Bangna-Trad Km.23 Project 3 located in Bang Sao Thong District, Samut Prakan Province, with a total rental area of approximately 34,001.00 square meters.

WHA Signod Factory located in Si Racha District, Chonburi Province, with a total rental area of approximately 8,151.00 square meters.

WHA Mega Logistics Center Theparak Km.21 located in Bang Sao Thong District, Samut Prakan Province, with a total rental area of approximately 30,311.00 square meters.

WHA-KPN Mega Logistics Center Bangna-Trad Km.23 Project 2 located in Bang Sao Thong District, Samut Prakan Province, with a total rental area of approximately 19,796.00 square meters.

WHA Central Mega Logistics Center Wang Noi 63 located in Wang Noi District, Phra Nakhon Si Ayutthaya Province, with a total rental area of approximately 67,704.00 square meters.

"The total rental area across these 5 projects is 159,963 square meters, with major tenants including well-known companies such as CRC Thai Watsadu Co., Ltd., Kerry Logistics (Thailand) Co., Ltd., and DKSH (Thailand) Co., Ltd. After this additional investment, WHART will have a total of 39 projects, up from the current 34 projects, aligning with WHART's policy to continuously invest in premium quality assets every year, supported by WHA Group, which has extensive experience in property management."

Upon completion of this additional investment, WHART's total asset value will reach approximately 51,956.40 million baht, with managed rental space increasing to 1,743,696.80 square meters, parking space of 32,650.19 square meters, and rooftop rental space of 450,777.29 square meters, making WHART the largest industrial trust in Thailand, distinguished by its strategically located assets in the country's logistics sector and a diverse tenant base with long-term lease agreements.

 "This capital increase aims to invest in additional core assets with long-term lease agreements from stable and growing business sectors. After the investment, the trust will have core tenants including logistics service providers (3PLs) accounting for 42% of rental income from leased areas, consumer goods (FMCG) accounting for 20%, and e-commerce accounting for 15% of rental income from leased areas."

Additionally, WHART has projected a distribution per unit to unit holders after the 8th additional investment of 0.80 baht per unit for the forecast period from January 1, 2023, to December 31, 2023, an increase from the previous distribution estimate of 0.78 baht per unit for the same accounting period.