BANGKOK, 1 FEBRUARY 2024
Frasers Property Commercial Asset Management (Thailand) Company Limited (“FPCAMT”), as the REIT Manager of Golden Ventures Leasehold Real Estate Investment Trust (“GVREIT”), held its Annual General Meeting 2024 by Electronic Mean (AGM) to report on GVREIT’s FY2023 performance (1 October 2022 - 30 September 2023) to trust unitholders.
GVREIT recorded total revenue of THB 1,160.69 million with a net profit of THB 719.44 million or 61% of total revenue. Sathorn square and Park Ventures maintains an average occupancy rate of 91% and 96% respectively across the fiscal year of 2023. GVREIT announced a final dividend distribution for four quarters to unitholders for its FY2023 operating results at the rate of THB 0.7856 per trust unit, which makes a yield of 7.96.
While maintaining a solid performance and adept FPCAMT management, the company remains committed to enhancing its digital infrastructure for buildings that adhere to standards, providing exceptional digital services that cater the needs of both current and future users. In 2023, Sathorn Square and Park Ventures buildings have achieved WiredScore Platinum standard, the highest level of certification. This serves as a testament to the company's leadership in constructing buildings that cater to the needs and preferences. The tenants and users can expect to receive top-of-the-line, resilient, and flexible digital services that are fully prepared for the future.
In the coming year for FY2024, GVREIT announced plans to undertake an Asset Enhancement Initiative (AEI) for elevating the quality of the trust’s assets. Involving Sathorn Square and Park Ventures buildings, the AEI will further strengthen the properties’ market competitiveness, generate more business opportunities, and instil greater confidence for tenants and visitors. It will also further affirm GVREIT’s position as the leading prime grade office developer in Bangkok’s CBD, supported by sustainable practices for property operations.
In its future operational plan, FPCAMT, as GVREIT’s manager, remains dedicated to strengthening positive relationships with tenants, occupiers and visitors to maintain its high occupancy rate. GVREIT will focus on executing its strategy and adopt a flexible and agile mindset to maximise opportunities. positive relationships with tenants, occupiers, and visitors to maintain its high occupancy rate. GVREIT will focus on executing its strategy and adopt a flexible and agile mindset to maximise opportunities.
