GVREIT announces 1Q FY2025 financial results, declares distribution of 0.2050 baht per unit to unitholders

Mr. Thanarat Boonyakosol, Managing Director of Frasers Property Commercial Asset Management (Thailand) Company Limited, said, "During the first quarter of fiscal year 2025, the Trust maintained an average occupancy rate above 90%, surpassing the market average; Park Ventures achieved an occupancy rate of 97%, while Sathorn Square reached 88%.

The Manager remains committed to enhancing its performance in 2025, and has unveiled strategies for tenant retention while attracting new ones to maintain the Trust's strong occupancy rate. Additionally, the Trust will continue to implement its three main strategies, with the goal of becoming a Real Estate as a Service brand, covering Service strategy, Rental and Service fee strategy, and Promotional strategy."
The three key strategies unveiled by FPCAMT include:

• Service Strategy: Prioritising tenant needs by understanding their behaviors and preferences to deliver optimal services. Beyond space rental, the Manager provides additional services and activities tailored to tenant requirements. It emphasises sustainable operations across environmental, social, and governance (ESG) dimensions.
• Rental and Service Fee Strategy: The Manager maintains competitive rental rates aligned with market situations while implementing various initiatives to support tenants. These include flexible lease terms, adapt flexibly to customer needs and market demand, to encourage renewals, standard furnished office rentals, and customised layouts that can accommodate tenants with budget constraints for fit-outs.
• Promotional Strategy: The Manager continuously conducts marketing activities to build awareness and enhance its reputation, with targeted promotional efforts aligned with tenants' preferences. It particularly focuses on potential tenants seeking Grade A office space to enhance their employees' quality of life through conveniently accessible CBD (Central Business District) locations and high-quality facilities.

In FY2024, the Manager reinforced its commitment to maintaining strong tenant relationships and high-quality service through various initiatives aimed at fostering engagement, creating a positive atmosphere, and strengthening connections. These included the SSQ Winter Market and the 8th Annual After Work Market, held under the 'Revive Ventures' theme as year-end highlights. These and other activities generated positive feedback from numerous tenants and building users.

Following the completion of Asset Enhancement Initiatives (AEIs) to enhance building features and competitiveness amid the rising supply of office buildings, the Manager placed significant emphasis on tenant feedback by conducting satisfaction surveys. The results showed high satisfaction across various aspects, particularly regarding the improved facilities and design elements that have strengthened the properties' market competitiveness.

"Looking ahead, the Trust will continue to execute its planned strategies while efficiently managing costs and expenses with a view to optimise revenue and efficiency in order to generate sustainable, long-term returns for Unitholders," Mr. Thanarat concluded.

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