Prospect REIT Management Co., Ltd., the manager of the Prospect Logistics and Industrial Real Estate Investment Trust, or “PROSPECT REIT,” has announced its performance for the third quarter of 2023, with an average occupancy rate across all projects soaring to 97.5%, marking a new all-time high since the trust's inception. This achievement comes despite various negative external factors, with total operating income reaching 148.45 million Baht, a growth of 2.88% from the previous quarter, leading to a net profit from operations of 84.03 million Baht, up 1.92% from the prior quarter. A standout performer is the new property, 'Bangkok Free Trade Zone 2' on Theparak Road, which has quickly achieved 100% occupancy, reinforcing that the Bangna-Trad area remains a prime location for the Thai industrial sector with consistently high demand.

PROSPECT REIT has scheduled a dividend payout for unit holders on December 21, 2023, at a rate of 0.2200 Baht per unit, with the ex-dividend date (XD) set for December 6, 2023. This reflects a continued commitment to providing consistent returns to unit holders from quality assets capable of withstanding various market conditions.

Ms. Oranong Chaitong, CEO of Prospect REIT Management Co., Ltd., as the trust manager, stated, “The Q3 performance reflects the strength of our effective management, particularly with the occupancy rate rising to 97.5% this quarter from 95.4% previously, resulting in higher net profits despite economic volatility. We have benefited from the relocation of foreign investors' production bases and the recovering domestic consumption. The key strengths of our four main projects under PROSPECT REIT are all located in high-potential areas along Bangna-Trad Road, within the industrial zone, including Free Zone areas near the airport, which facilitate transportation. The quality and variety of our factory and warehouse buildings meet the diverse needs of various industries, along with the confidence of operators in the Bangkok Free Trade Zone project, allowing us to accommodate the expansion of existing tenants and quickly fill new tenants.”

As for the overall Thai economy in 2024, it is recovering, with the Bank of Thailand (BOT) forecasting GDP growth at 4.4%. The growth next year is expected to be driven by several factors, with exports likely to rebound positively, projected to grow by 4.2% in 2024, alongside domestic demand showing signs of expansion. However, financial market volatility remains a risk factor to monitor in the coming year.

The gradually recovering export sector positively impacts industries operating in Free Zones, which benefit from tax incentives. Additionally, the Bangkok Free Trade Zone 1 on Bangna-Trad Road Km 23 has attracted new clients from the automotive and electronics manufacturing sectors, aligning with the trend of electric vehicles (EVs) as major manufacturers enter the market, creating new opportunities for businesses related to EVs, as well as the solar cell industry, which has expanded from component assembly to include production.

“For the Bangkok Free Trade Zone 3 on Bangna-Trad Road Km 19, we are currently in the process of signing contracts with new clients and expect to achieve 100% occupancy by Q4 2023, in line with our goal to fill new tenants within six months after the first capital increase. This reinforces our position as a Professional REIT Manager focused on investing in high-quality assets. Looking ahead to next year, investment in the trust remains a key option for diversifying risks for investors, and PROSPECT REIT is ready to continue expanding the total asset value and providing consistent returns to investors,” Ms. Oranong concluded.


Bangkok Free Trade Zone 1, Bangna-Trad Road Km 23_BFTZ 1


Bangkok Free Trade Zone 3, Bangna-Trad Road Km 19_BFTZ 3


Warehouse for Rent_Bangkok Free Trade Zone 3, Bangna-Trad Road Km 19_BFTZ 3