Amongst five leading trusts in Thailand, FTREIT was chosen as number one for the Best Real Estate Investment Trust - Thailand 2023. Mr. Thanarat Boonyakosol, Managing Director of FIRM, the REIT manager, said: "This award endorses FIRM's capability in effectively managing FTREIT, building consistent growth with conversative risk management. FTREIT has recorded consistently strong performance with total revenue of THB 3,779.1 million, an increase of 3.7% YoY, and a healthy average occupancy rate of 86.2% in FY2023. Strategic portfolio management is a cornerstone of the trust's success, which comes from asset sourcing of strategic locations with a diversified tenant base for a balanced Gross Rental Income (GRI) contribution. This helps FIRM effectively manage and mitigate risks, while delivering consistent returns for its investors, aligning with ESG roadmap."
Currently, FTREIT has a substantial presence across Thailand's major industrial development regions, including the central region, eastern region, and the Eastern Economic Corridor (EEC). This diversity and extensive presence caters to a diverse range of industry needs. The trust adopts a Gross Rental Income (GRI) strategy to minimise business risks by ensuring a balanced tenants' portfolio. In addition, the ability to access high quality assets also helps the trust maintain a high occupancy rate while expanding its portfolio.
In FY2023, FTREIT successfully acquired high-potential assets, including 25 warehouse and factory units from Frasers Property Thailand (FPT) totaling over 57,000 sq.m. The trust also invested in TIP Holding Co., Ltd.'s TIP9 project, comprising nine factory and warehouse buildings with leasable area over 70,000 sq.m. As of 30 September 2023, FTREIT's portfolio encompasses nearly 2.3 million sq.m. of leasable area, with freehold assets comprising 72% of the total portfolio or 1.63 million sq.m.
With a goal of becoming sustainable, FIRM is committed to continuing its ESG practices, aiming to achieve net zero carbon emissions by 2050. These efforts have earned FTREIT significant recognition, including selection as one of the ESG100 listed securities by Thaipat (an ESG rating unit in Thailand) and the highest rank in the GRESB Public Disclosure Report among Southeast Asia - Industrial participants. This strong sustainability performance favourably positions FTREIT for potential green loan opportunities in the future.
As Thailand's Best Real Estate Investment Trust, FIRM will consistently raise the bar for effective asset management and expansion by effectively manage and mitigate risks in all aspects, while sustaining a high occupancy rate and delivering consistent returns for its unitholders.
Source: Frasers Property (Thailand)