"Alpha Industrial Solutions" has submitted a filing to establish a trust for investment in leasehold rights of Alpha Industrial real estate, named "ALPHART", aimed at investing in leasehold rights for four strategically located warehouses valued at 3.5-3.8 billion baht. The strong portfolio includes Bangna Km. 22 and Bangna Km. 19, both with a 100% occupancy rate, serving logistics providers, cold storage services, and construction material suppliers as the main client groups. For 2024, the plan includes the development of an additional 200,000 sq.m. of warehouses, focusing on the Bangna-EEC area to support the growing export market.

Mr. Pathan Somboonsin, Chief Executive Officer of Alpha Industrial Solutions Co., Ltd. or ALPHA , a developer of comprehensive industrial real estate services, under a joint venture between Origin Property Public Company Limited or ORI and SCG JWD Logistics Public Company Limited, announced that the company plans to establish a Real Estate Investment Trust for Alpha Industrial Leasehold Rights or ALPHA Industrial Leasehold Real Estate Investment Trust (ALPHART) to raise funds for the continuous expansion of the company. Recently, the company submitted its initial public offering request and the filing for the trust units to the Securities and Exchange Commission on February 29.

The trust has appointed Origin REIT Management Co., Ltd. as the REIT Manager, Thai Commercial Asset Management Co., Ltd. as the trustee, and Kasikorn Bank Public Company Limited as the financial advisor for the trust establishment and unit sale.

Initially, the ALPHART trust plans to invest in leasehold rights for four warehouse projects, including Alpha Bangna Km. 22 (Phase 1), Alpha Bangna Km. 19 (Phase 1), Alpha Laem Chabang (Phase 1), and Alpha Rangsit (Phase 1), totaling over 167,000 sq.m. The estimated value of the initial assets the trust will invest in is approximately 3.5-3.8 billion baht. Currently, the main tenant groups include logistics service providers, cold storage service providers, and construction material suppliers, with Alpha Bangna Km. 22 (Phase 1) and Alpha Bangna Km. 19 (Phase 1) having a 100% occupancy rate.

Currently, Alpha has completed and ongoing warehouse projects totaling 9 projects, with a total rental area of 385,000 sq.m., distributed across 9 strategic logistics locations including Rangsit, Bangna Km. 22, Bangna Km. 19, Bangna Km. 23, Laem Chabang, Panthong, and the Eastern Economic Corridor (EEC). In the first half of 2024, new warehouse projects in Laem Chabang, Bangna Km. 19, and Panthong will gradually be completed, with additional revenue expected in the second half of this year.

At the same time, the company plans to develop additional new projects this year, totaling around 200,000 sq.m., focusing on the Bangna area and the Eastern Economic Corridor (EEC), such as the Free Zone near Laem Chabang Port and in Rayong province, to meet the growing demand of the export market and logistics investments from leading foreign companies. The focus will be on clients requiring Built-to-Suit Warehouses that involve complex warehouse or factory designs and systems requiring high expertise in development.

"Our team has expertise in all aspects of warehouse operations, from site selection, design, construction, to implementing complex automation systems, adhering to international standards, and other details according to client needs and business models. This has led the company to gain trust in continuously developing Built-to-Suit warehouses, achieving satisfactory warehouse rental rates, comparable to Ready Built warehouses," said Mr. Pathan.