Prospect REIT Management Co., Ltd., the manager of the Prospect Logistics and Industrial Real Estate Investment Trust, has announced its Q1 2024 performance, reporting total revenue of 146.67 million baht, a growth of 26.53% year-on-year (yoy). The operating profit reached 81.20 million baht, up 15.83% (yoy), with an impressive overall occupancy rate across all projects hitting a new high of 97.8%. This reinforces the trust's core strategy of investing in high-quality assets in prime locations, capable of generating robust income and sustainable growth. The demand for warehouses and factories in Free Zones remains strong among both Thai and foreign investors, as the trust plans to aggressively invest in additional properties in 2024 to enhance long-term stability.

The trust is set to distribute benefits to unitholders in the form of dividends and capital returns at a rate of 0.2100 baht per trust unit, scheduled for payment on June 14, 2024. The ex-dividend date (XD & XN) will be announced on May 31, 2024.

Ms. Oranong Chaitong, CEO of Prospect REIT Management Co., Ltd., stated, "The performance figures, particularly the consistently high occupancy rate since the trust's inception, reflect the quality of the assets that PROSPECT REIT has invested in across four projects, including the existing BFTZ 1 on Bangna-Trad Road Km. 23 and X44 on Bangna-Trad Road Km. 18, as well as two new projects: BFTZ 2 on Theparak Road and BFTZ 3 on Bangna-Trad Road Km. 19. These new assets have generated income for a full year in this quarter, maintaining a 100% occupancy rate since the previous quarter, in line with expectations due to three main factors: the project's location, building quality, and management quality. Additionally, there are new tenants in the BFTZ 1 project utilizing space for automotive parts business, aligning with growth trends. We are confident that our effective management of the trust will yield good and consistent returns for unitholders."

Currently, PROSPECT REIT has total assets valued at over 5.418 billion baht, with tenants diversified across various stable industries. The Free Zone areas attract both Thai and foreign investors due to tax benefits on imports and exports, supporting businesses related to the complete supply chain from production, assembly, storage, to transportation. Tenants in these Free Zone areas operate 82% as factories and 18% as warehouses, enabling PROSPECT REIT to thrive in all circumstances.

"Regarding the overall economic outlook for Thailand in the second half of the year, the Ministry of Finance predicts that the Thai economy will grow by 2.4% in 2024, supported by a growing tourism sector coinciding with the high season in Q3 and Q4, which is expected to stimulate domestic consumption and positively impact tenant businesses. For investors, any signals of interest rate cuts will benefit REIT investments, which are considered a lower-risk option that provides regular dividends. Currently, the cost of investing in REITs has decreased due to falling market prices compared to previous periods. Additionally, there are various types of REITs available, which helps manage investment portfolio risks. The trust manager will closely monitor the overall situation and continue to implement strategies focused on investing in quality assets and selecting standard tenants, paving the way for significant movements to occur soon," Ms. Oranong concluded.