- Approved investment of THB 1.55 billion to acquire high-potential industrial assets including warehouses and factories from Frasers Property Thailand (“FPT”)
- Further strengthens FTREIT portfolio with freehold property in strategic locations, solidifying position as Thailand’s leading REIT with the largest number of freehold property
- After the completion of asset acquisition, FTREIT’s portfolio value will increase to THB 49.5 billion
BANGKOK, 25 JULY 2023
Frasers Property Industrial REIT Management (Thailand) Company Limited, or "FIRM", as the REIT Manager of FTREIT, announced that the proposal to acquire high-potential assets including warehouses and factories from Frasers Property Thailand (“FPT”) has been approved at the Extraordinary General Meeting of Trust Unitholders No.1/2023 of Frasers Property Thailand Industrial Freehold and Leasehold REIT. The THB 1.55 billion investment in new assets comprises 10 factories and 15 warehouses in the strategic locations of Ayutthaya, Samut Prakan, Prachinburi and Chonburi provinces, which span 58,000 square metres in total.
Thanarat Boonyakosol, Managing Director of FIRM, said, “FIRM continues to focus on driving stable and sustainable growth for FTREIT unitholders with our focus on high-performing assets. The additional investment in freehold right is aligned with our investment principles and it will offer potential for capital growth.”
This expansion of FTREIT’s high-potential warehouse and factory portfolio, coupled with its existing tenants from various industries reinforces FTREIT’s position as Thailand’s leading industrial REIT with the largest number of freehold property in Thailand’s prime strategic locations. The high-potential assets portfolio and its existing tenants from various businesses further strengthen FTREIT portfolio.
The acquisition is expected to be completed by September 2023. Recently, FTREIT invested over THB 1.6 billion in TIP Holding Co., Ltd.'s warehouses, adding a net leasable area exceeding 70,000 square metres. With this addition, FTREIT’s asset portfolio has expanded from 676 units to 701 units, with the total assets under management growing from 2.2 million square metres to 2.3 million square metres, valued increasing to THB 49.5 billion. This represents a growth of THB 3.19 billion since the beginning of FY2023.
