Frasers Property (Thailand) Public Company Limited, or “FPT,” has showcased its performance for the first quarter of the fiscal year 2023 (October – December 2022), generating total revenue of 3.538 billion baht, an increase of 7.8% or 256 million baht compared to the same period last year, with a net profit of 328 million baht. Revenue from property sales amounted to 2.14 billion baht, rental and service income was 788 million baht, and other income totaled 610 million baht, reflecting a 28.4% increase compared to the same period last year. The primary source of other income came from recognizing profits from the sale of investment properties, amounting to 249 million baht, which is an increase of 106.8 million baht compared to the same period last year.

Mr. Hwa Tien Lim, Chief Executive Officer of Frasers Property (Thailand) Public Company Limited, stated that FPT's diverse and comprehensive portfolio has enabled the company to drive stable performance across its three businesses: residential, industrial, and commercial in the first quarter, alongside effective capital management and financial structure, while maintaining liquidity at an appropriate level. At the same time, the company continues to implement flexible business plans to cope with economic uncertainties arising from challenges both domestically and internationally.

The residential property sector saw an increase in revenue of 137 million baht compared to the same period last year, with strong market response for detached and twin houses, particularly for new brands such as Goldina, Gramour, and GUTE, which have attracted continuous interest and site visits from customers. Additionally, the company has demonstrated its leadership in sustainable real estate with two projects, ‘Gramour Sathorn’ and ‘GUTE Sukhumvit 76,’ which have received certification for energy and environmental sustainability standards in residential buildings (TREES-Home V.1.0) at the Gold level from the Thai Green Building Institute (TGBI), making it the first real estate company in Thailand to achieve such certification. For the remaining nine months of the fiscal year 2023 (January - September 2023), the company plans to launch new projects in prime locations in Bangkok.

The industrial property sector continues to benefit from foreign investors relocating their production bases to Thailand, along with the growth of the electronics and digital industries, resulting in high demand for rental factories, which are critical infrastructure in the supply chain. This has driven the average rental rate for the company’s rental factories during October – December 2022 to 96%. In the warehouse rental business, the company has maintained its existing customer base while continuously closing deals with new clients, thanks to the premium features of its warehouses that meet high standards and sustainability criteria. In the first quarter, the company completed a 9,400 square meter Built-to-Function warehouse at Frasers Property Last Mile Hub (Poojao Saming Prai) and is ready for delivery to customers, following the successful reception of the first phase warehouse of 21,000 square meters. Additionally, the company has begun developing a new Built-to-Suit automated sorting center for SPX Express, sized at 65,000 square meters, at Frasers Property Logistics Center (Mahachai).

The commercial property sector has maintained an office building and shopping center rental rate of 89% at the end of the first quarter of fiscal year 2023, having strategized to address the oversupply situation in the office market by making lease agreements more flexible to better meet the operational needs of clients. The shopping centers have seen increased activity due to New Year festival events, with the unique characteristics of the shopping centers and clearly defined target customer groups enhancing business opportunities for tenants with similar target audiences, which has supported tenants' decisions to renew their leases with the company continuously.