By The Nation
He said the actual unit allocation was five times oversubscribed.
The REIT’s popularity was ascribed to the strength of 30-year leasehold rights at the Suntowers Office Building, a beautiful modern and well-maintained building near the Lat Phrao intersection in Bangkok.
It is physically linked to businesses, retail stores and residential condominiums and close to the Mor Chit BTS and Phahon Yothin MRT stations, the Chaloem Mahanakhon Expressway’s Din Daeng Toll Plaza, Mor Chit Bus Station, Chatuchak Park, Central Plaza Lat Phrao and Max Future’s Sun Plaza Building.
“We are confident that investments can generate good earnings, with the expectation of approximately 7 per cent in the first year, which is high in comparison with other REITs investing in the leasehold rights of office buildings,” said Ketkorn.
SPrime was listed on the Stock Exchange of Thailand with confidence because of the Suntower Building’s potential, good location and convenient transport, as well as its efficient building management.
It is expected that the office building rentals in Bangkok will continue to grow with the region’s economic expansion.
In 2018-2019, the market’s high rental capacity is reflected by the total occupancy ratio of 92.7 per cent as of the end of Q1/2018, representing more than 8.09 million square metres from a total area among office buildings of 8.78 million square metres.