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SHREIT seeks two more Asian hotels

Nov 20. 2018
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By The Nation

Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT) on November 19 announced distribution payments for the four months ending October 31 to unit holders at the rate of Bt0.2561 per unit.

 For the first 10 months of the year the trust is paying out distributions totalling Bt0.5997 per unit to unit holders.

The existing portfolio consists of the Pullman Jakarta Central Park, Capri by Fraser in Ho Chi Minh City, and IBIS Saigon South, also in Ho Chi Minh City. SHREIT plans to make additional investment in two other hotels in Asia, which would push its combined assets to over Bt10 billion and make it the largest REIT in the hospitality industry to be registered with the Stock Exchange of Thailand (SET). This will create continuous and secure revenue growth for the trust and robust returns for unit holders, said a company press release on Tuesday.

 Patan Somburanasin, managing director of Strategic Property Investors Co Ltd, which manages SHREIT, said SHREIT is paying distributions Bt0.2561 per unit to unit holders after announcing its third quarter performance that saw a profit of Bt79.44 million. This is a jump of 144 per cent on the previous quarter. It has set the book-closing date for December 19, 2018 and the payout date for December 28, 2018. 

 

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