FTREIT announces strong 1QFY2025 performance of over THB 1 billion in revenue, average occupancy rate at 88.2%

Mr. Bhumpharn Arunthammakul, Managing Director of FIRM, as the REIT Manager of FTREIT, said, "FTREIT delivered an outstanding performance in 1QFY2025, attributable to effective management capabilities that helped the portfolio achieve an average occupancy rate of 88.2%, the highest since 2017 when three property funds were converted into FTREIT (TICON Property Fund - TFUND, TPARK Logistics Property Fund - TLOGIS, and TICON Industrial Growth Leasehold Property Fund - TGROWTH). The average occupancy rate for this quarter increased by 2.3% compared to 4QFY2024 (July - September 2024), which stood at 85.9%. This growth was primarily driven by strong demand from companies relocating their manufacturing bases from China to Thailand. Most of this investment came from the electronics, computer hardware, appliances, and logistics industries. This has boosted the demand for factory and warehouse rentals, and the increased lettable area from additional investment in September 2024."

For FY2025, FTREIT has earmarked around THB 1 billion to expand the portfolio through high-potential investments in new assets from Frasers Property Thailand and other parties, focusing on strategic industrial and logistics locations.

The REIT Manager anticipates a positive trend for FY2025 driven by the ongoing relocation of manufacturing and production bases from China, and the growth of the country's tourism sector, which will in turn support space demand from related consumer goods businesses. These factors are expected to positively impact the overall economy, driving increased demand for factory and warehouse rental spaces.

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