- FPT recorded gain on sale of its FTREIT units valued THB 943 million which will be reflected in 2Q/2020 financial results.
- The growing portfolio and robust performance of FTREIT continued draw investment demand from both institutional investors and fund managers.
- FPT remains a major shareholder of FTREIT with more than 22% stake. The Company continues to receive stable return from shares of profit of its FTREIT investments as well as revenue from property management as property manager of FTREIT.
BANGKOK, 25 FEBRUARY 2020
Frasers Property (Thailand) Public Company Limited (“FPT”), a leading provider of integrated real estate platform, today announced its sale of 61.2 million units in FTREIT valued 943 million Baht. The transaction which unlocked FPT’s investment value at the right market window will further boost 2Q/2020 financial performance.
FPT remains a major shareholder of FTREIT with more than 22% stake. The Company continues to receive stable return from shares of profit of its FTREIT investments as well as revenue from property management as property manager of FTREIT. The growing portfolio and robust performance of FTREIT continued draw investment demand from both institutional investors and fund managers.
Mr. Sopon Racharaksa, President of Frasers Property Thailand, revealed, “The sale of FTREIT units is a good opportunity for FPT to capitalize on our investment and rebalance our portfolio. Proceeds of the transaction will be used to reinvest in various value-accretive projects and to support our business operations. Moreover, FPT has a plan to divest our industrial property assets to FTREIT within this fiscal year. This transaction will support growth of FTREIT’s portfolio and provide upside to FPT’s financial performance, in line with overall strategy of FPT to deliver good shareholder return as Thailand’s leading provider of integrated real estate platform.
