Prospect REIT Management Co., Ltd., the manager of the Property Fund for Investment in Real Estate and Leasehold Rights, Prospect Logistics and Industrial, or “PROSPECT REIT,” has announced its performance for 2024, achieving total revenue of 599.41 million Baht, an increase of 5.61%, and a net investment profit of 336.49 million Baht, up 2.66% compared to 2023. This reaffirms its strong financial position and stable growth amidst challenges, aided by effective asset management and the trend of relocating production bases in targeted industries to Thailand. According to the BOI investment promotion requests for 2024, the total investment value exceeds 1.13 trillion Baht, the highest in a decade, positively impacting demand for warehouse and factory rentals, resulting in an occupancy rate of 96.78% at the end of 2024.

In the fourth quarter of 2024, the trust reported total revenue of 150.85 million Baht and a net investment profit of 84.73 million Baht. Consequently, it has decided to distribute returns to unit holders in the form of dividends and average capital return at a rate of 0.2150 Baht per trust unit. The ex-dividend date (XD) is set for March 4, 2025, with distributions to unit holders on March 18, 2025. Including the distributions in the first nine months of 2024, the total payout to unit holders will be 0.8560 Baht per unit, yielding 10.07% based on the market price at the end of Q4 2024 (8.50 Baht per unit).


Ms. Oranong Chaitong, Chief Executive Officer of Prospect REIT Management Co., Ltd., as the trust manager, stated, “The performance in Q4 2024 of PROSPECT REIT saw a slight decrease in total revenue compared to the previous quarter (QoQ) due to the business cycle period for decisions on expansion, downsizing, or changing business plans. Recently, a new tenant in the electronics automotive industry signed a lease for over 10,000 square meters. Overall, 2024 has been a year of strong growth for PROSPECT REIT, especially with two new prime projects in Bangna-Trad: BFTZ 2 on Theparak Road and BFTZ 3 on Bangna-Trad Road Km. 19, which were further invested in 2023 and have achieved a 100% occupancy rate, reflecting our expertise in selecting high-quality assets that can generate long-term growth. We will continue to implement a professional and meticulous portfolio management strategy, balancing risk diversification across industries and nationalities of tenants, aiming to continuously enhance asset value at the right timing.”

As of the end of Q4 2024, the trust has four projects of warehouse and factory space available for rent, totaling approximately 292,332 square meters, with over 63% of the leased area benefiting from Free Zone tax exemptions. The quality buildings in the purple zoning area are popular among operators for establishing factories, supporting high occupancy and renewal rates. The tenant base includes companies from various countries such as Thailand, China, Japan, the United States, and others, covering leading industries such as consumer goods, pharmaceuticals, electronics parts, automotive, industrial materials, and petrochemical and chemical machinery.


Ms. Oranong added, “Looking ahead to 2025, we still see positive signals from policies promoting foreign direct investment. For our management plan to drive growth, the trust manager will continue to focus on three main pillars: maintaining a rental rate above 90%, ensuring sustainable renewal rates with existing tenants, which historically have renewed contracts for over 10 years, and managing average rental rates (ARR) to be equivalent to or higher than market prices based on the potential of premium-grade A buildings, ensuring stable income that leads to consistent returns. Meanwhile, the volatility in the Thai capital market presents opportunities for investment in Industrial REITs as a safe asset choice for strong returns with relatively low risk, aligning with the downward interest rate trend.”

Additionally, the third phase of additional investment in the remaining areas of three existing projects, totaling over 221,678 square meters and valued at no more than 3.35 billion Baht, is still in progress. The plan is to align with the overall market conditions, investing in both leasehold and freehold formats, which is expected to result in PROSPECT REIT having approximately 31.40% of freehold assets after this additional investment, benefiting the trust in the long term.