News
Golden Ventures REIT receives a warm welcome from investors, expected to trade on the SET on April 4.
Golden Ventures REIT toasts the success of its trust unit offering proven by robust demand from both institutional and retail investors, given their confidence in its excellent potential returns. The REIT will invest in approximately 25-year leasehold rights of the building of Park Ventures Ecoplex (excluding the Okura Prestige Bangkok) and approximately 24-year leasehold rights of land and buildings of Sathorn Square with a combined value of 10 billion Baht. Both Grade-A properties are outstanding in their location, directly connected to BTS stations, and were designed with a green building concept, creating confidence among prominent local and multinational corporations, as well as leading retailers. Their occupancy rate is close to 100 percent.
Mr. Sittichai Mahaguna, Investment Banking Business Head of KASIKORNBANK PCL, as a Sole Underwriter of Golden Ventures REIT, said the offering of REIT units during the subscription period from March 14 to 18, available at 10 Baht per unit, has drawn much attention from institutional and retail investors, proving their confidence in outstanding potential returns of the two buildings. The REIT will invest in approximately 25-year leasehold rights of the building of Park Ventures Ecoplex (excluding the Okura Prestige Bangkok) and approximately 24-year leasehold rights of land and buildings of Sathorn Square.
With an exceptional, unique architecture, both buildings are also designed with eco-friendly and green building design concept. Park Ventures Ecoplex is located in the heart of Bangkok’s CBD at the Ploenchit-Wireless Road intersection, with direct access to Ploenchit BTS Station and close proximity to the expressway, a plus for road transportation. Located in another prime CBD of Bangkok, at the Sathorn-Narathiwat Ratchanakarin intersection, Sathorn Square is close to the Sathorn expressway with direct passage to the Chong Nonsi BTS Station, thereby attracting many leading local and multinational companies, as well as prominent retailers and restaurants.
Mr. Urasate Navanugraha, Managing Director of Univentures REIT Management, as REIT manager, stated that the two buildings’ combined rental area totals 100,000 square meters, comprising 26,313 square meters at Park Ventures Ecoplex and 73,181 square meters at Sathorn Square. With their prime location, both projects have high growth potential. At the end of September 2015, the occupancy rate of Park Ventures Ecoplex was around 99 percent, with an average monthly rental rate of 907 Baht per square meter, while Sathorn Square’s occupancy rate was around 96 percent, with an average monthly rental rate of 745 Baht per square meter. Thus, Golden Ventures REIT can ensure investors of stable income and strong growth prospects.
The REIT’s total value equals approximately 10 billion Baht, including 8.15 billion Baht raised from equity offering, 2 billion Baht from debt financing, and 160 million Baht from rental deposits.
“The REIT manager would like to express our gratitude for institutional and retail investors subscribing our trust units. Golden Ventures REIT’s 1st day trade is expected at April 4, with the ticker of GVREIT. Additional information can be found at www.gvreit.com,” Mr. Urasate said.
