Frasers Property Commercial Asset Management (Thailand) Company Limited or "FPCAMT", the REIT manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), announced its operating results of the Trust for the first quarter of fiscal 2022 (October-December 2021). The Trust recorded total revenue of THB 282.94 million, an 11.40% increase from the previous quarter, with an average occupancy rate of leasable space at 92.8%.
Due to its strong and stable financial performance, GVREIT declared a distribution of returns for the first quarter of fiscal 2022 of THB 0.1950 per trust unit, amounting to a total of THB 158.89 million. The payment date of the distribution is 9 March 2022.
Ms. Chantraporn Chan, Managing Director of Frasers Property Commercial Asset Management (Thailand) Company Limited, stated: "Despite persistent challenges in Thailand brought on by the COVID-19 pandemic, FPCAMT has demonstrated its continued ability to manage GVREIT and deliver satisfactory results. We nimbly adjusted our strategy to better meet the needs of tenants at Park Ventures Ecoplex and Sathorn Square by enhancing flexibility and variety of our leasable space. In addition, as the trust manager, FPCAMT has focused on building and maintaining good relationships with tenants to retain the high occupancy rate."
"For our future operations, FPCAMT will continue to monitor the situation and potential risk factors closely. We will be prudent in managing the Trust's assets and remain focused on ensuring that the assets are maintained at a high quality and in accordance to LEED standards so as to generate stable and sustainable returns for unitholders," added Ms. Chantraporn Chan.