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 first quarter of 2025, reporting total revenue of 143 million baht and a net investment profit of 76 million baht. The trust maintains a strong occupancy rate of 96% and showcases a renewal rate of 100%, reflecting the confidence of tenants, particularly foreign operators who have not signaled any intention to relocate their manufacturing bases. This underscores the quality of the assets that cover key industrial and logistics strategic locations in the country, including Free Zone areas that offer tax benefits for imports and exports, attracting foreign tenants.

Ms. Oranong Chaitong, Chief Executive Officer of Prospect REIT Management Co., Ltd., as the trust manager, stated, "The situation in Q1 2025, despite global economic challenges and changes among tenants, shows a continued growth trend in the leasing of warehouses and factories, especially from foreign tenants, who are clearly showing positive signals for increased investment in Thailand. The slight decrease in total revenue from the previous quarter aligns with the business strategy adjustments of tenants, such as the solar cell manufacturing business that relocated in Q1. New tenants have already replaced the previous ones, and revenue will be recognized in the next quarter. With a diverse tenant base across various industries and nationalities, we continue to maintain strong occupancy rates and effectively manage our portfolio."

A survey of tenants in the BFTZ project managed by the trust found that those exporting goods to the United States, which is a primary market, occupy a small portion of the total leased area. Tenants have not been affected by the U.S. import tax situation and currently have no plans to relocate their manufacturing bases to other countries in the near future, as many manufacturing bases such as Vietnam, Malaysia, and Indonesia are also facing challenges. Additionally, relocating manufacturing involves high costs, and foreign tenants are accustomed to the cultural aspects of living and doing business in Thailand, which they find to be more diverse and flexible.

Current tenants are primarily in the consumer goods and pharmaceuticals, petrochemicals and chemicals, automotive, steel and metal products, and other sectors, with over 80% of the leased area of the trust being factory-type businesses, resulting in a consistently high renewal rate among existing tenants.

PROSPECT REIT has announced a dividend payment for the operational results from January 1 to March 31, 2025, estimating a return between April 1 and May 15, 2025, at a rate of 0.3050 baht per trust unit, which will be paid to unit holders on May 15, 2025.

Ms. Oranong added, "The direction of foreign direct investment (FDI) in the first quarter of this year continues to expand, with total investments of 267.664 billion baht, demonstrating that Thailand still has the potential to establish manufacturing bases, supporting industrial growth. The movement to sell additional trust units for further investment in the third round of PROSPECT REIT has garnered interest and positive feedback from institutional and retail investors after conducting a roadshow to provide information to investors. The subscription period for existing unit holders and the general public will be from May 19 to 23, 2025. For future operations, the trust manager will focus on continuous growth and enhancing investment stability in a feehold format, prioritizing stable and sustainable returns."

Following the third round of capital increase for additional investment in the BFTZ project at Bangna-Trad Road Km. 23, BFTZ 2 at Theparak Road, and BFTZ 3 at Bangna-Trad Road Km. 19, PROSPECT REIT will increase its leased area to 514,010 square meters, expanding the portfolio value to over 8.7 billion baht.