Frasers Property Commercial Asset Management (Thailand) Co., Ltd. or “FPCAMT”, as the manager of the Golden Venture Real Estate Investment Trust or “GVREIT”, has announced the trust's performance for the third quarter of the fiscal year 2567 (April – June 2567), reporting total revenue of 286.11 million baht, an increase of 1.49% compared to the previous quarter. GVREIT will pay a quarterly benefit for Q3 of fiscal year 2567 at a rate of 0.1963 baht per trust unit, amounting to a total benefit value of 159.95 million baht, scheduled for payment on September 12, 2567.

Mr. Thanaratch Boonyakosol, Managing Director of Frasers Property Commercial Asset Management (Thailand) Co., Ltd., stated that the overall office market in the first quarter of 2567 saw an increase in supply in the Bangkok area of approximately 9.6 million square meters, including the One Bangkok Tower 4 project with an area of 96,302 square meters (source: CBRE). Meanwhile, the net leasing area was negative at 13,761 square meters, primarily due to major tenants relocating to their own buildings. New supply currently under construction includes 830,836 square meters, with approximately 280,000 square meters of Grade A office space in the central business district expected to be completed within this year.

However, despite the high competition in the office market due to the increasing new supply, the trust has maintained strong asset management capabilities. In Q3 of fiscal year 2567, the trust maintained an occupancy rate of 89%, which is higher than the market average, with Park Venture's occupancy rate at 96% and Sathorn Square at 87%.

The trust is committed to enhancing the experience for all customers and users while operating sustainably. It has implemented an Asset Enhancement Initiative (AEI) for both buildings, with Sathorn Square's renovation completed earlier this August, while Park Venture is scheduled for completion within September. The upgrades have improved safety and facilities with smart building technology, including access control systems for users and visitors via facial recognition and QR codes, an automatic license plate recognition system for vehicle entry and exit, online parking payment (E-Payment), and the installation of EV chargers for electric vehicles.

Additionally, the trust emphasizes promoting health and quality of life for building users by developing and upgrading systems and equipment for greater efficiency. It has installed an Indoor Air Quality (IAQ) monitoring system to display the air quality filtered for PM2.5 throughout all areas of the building, ensuring safety and suitability.

“Enhancing the quality of assets in both common areas and retail spaces through the AEI project adds value to the trust's properties and builds confidence among tenants and users to compete with new office buildings in a highly competitive market. This allows us to maintain a satisfactory occupancy rate and generate long-term returns for trust unit holders,” Mr. Thanaratch concluded.