News

GVREIT continues to outperform, with a 92% occupancy rate, paying a Q1/2023 dividend of 0.1980 baht per unit to unitholders

BANGKOK, 15 FEBRUARY 2023

Frasers Property Company Commercial Asset Management (Thailand) Company Limited or "FPCAMT" as the REIT Manager of Golden Ventures Leasehold Real Estate Investment Trust or "GVREIT" reveals its operating results of the Trust for the first quarter of the fiscal year 2023 (October – December 2022), generating total revenue of 290.95 million baht, an increase of 2.83% compared to the same period last year. The dividend payment for Q1/FY2023 will be paid at the rate of 0.1980 baht per trust unit, totaling over 161.33 million baht, which will be paid on 10 March 2023.

Ms. Chantraporn Chan, Managing Director of Frasers Property Commercial Asset Management (Thailand) Company Limited, stated that as the COVID-19 situation subsides, many countries have returned to normal conditions with travel and economic activities, as evidenced by many companies issuing policies for employees to return to full-time work. This is a positive aspect of the office rental business, which, along with GVREIT's outstanding management, enabled GVREIT to achieve average occupancy rate at 92% in the first quarter of fiscal year 2023. The average occupancy rate of the Park Ventures Ecoplex project is 96% and the Sathorn Square project is 91%.

The REIT will continue to effectively maintain the high occupancy rate by acquiring new tenants through a more flexible approach and good tenant relationships. This enables future opportunities to alter the rental rate consistent with the management of the REIT's cost and income. At the same time, FPCAMT, as the REIT manager, conducts business with due consideration to Environment, Social and Governance (ESG) while prudently and effectively managing the REIT's assets to produce stable and sustainable returns for unitholders.