The year 2021 marks another challenging year for business sector not only in Thailand, but also around the globe. Several business industries have severely been impacted from the outbreak of COVID-19 in the recent years. However, the year 2021 is considered one of another satisfactory years for WHA Premium Growth Real Estate Investment Trust (“WHART Trust”). With our key strategies to stabilize growth and diversify business risk in multi-aspects, WHART Trust has still been able to achieve operational and financial targets and be able to maintain benefits to the unitholders.
WHART Trust is regarded as one of best-performing industrial REITs in term of operational performance. Since establishment, the Trust has always been able to maintain average occupancy rate at not less than 90 percent. Even during impact of COVID-19 in 2021, the Trust still achieved the average occupancy rate of 90 percent as key tenant groups of the Trust are from stable business such as Third Party Logistics (3PLs), Fast-Moving Consumer Goods (FMCG), home appliance, and also a growing sector such as E-commerce which has become the key industry of the WHART Trust by the end 2021.
WHART Trust also completed the investment (6th Capital Increase) on 3 additional projects with total value of Baht 5,549.7 million in December 2021. These 3 projects have total leasable area of 184,329.0 sq.m and are located in prime logistics locations in Bangna-Trad Road, Wangnoi Area, and Chachoengsao Area which is one of provinces in Eastern Economic Corridor area (EEC) and such project is announced to be Special Promotional Economic Zone for e-commerce business. In addition, the Trust also adds premium tenants like Alibaba Group, Shopee and TD Tawandang with average lease term of 10.7 years to the portfolio which helps strengthen revenue stream of the Trust in long-term.
After completion of the additional investment, total asset value of the WHART Trust increases from Baht 42,585.7 million to Baht 48,454.5 million which makes the WHART Trust to be the largest industrial REITS on total asset value perspective. Total building leasable area under management also increases to 1.58 million square meters. On tenant distribution, the proportion of e-commerce sector has increased from 4.9 percent to 15.8 percent and becomes top 3 in the portfolio. This is in-line with our strategy to invest in global megatrend like e-commerce. The 3PLs and FMCG are still main sectors. However, their overall proportions are reduced with the rise of E-commerce one, and this is good practice for business risk-diversification.
In regard of unitholder benefits, even during the uncertainty period in 2021, WHART Trust has paid the dividend totally Baht 0.7578 per unit without capital reduction which is the same amount paid in the previous year, and, on behalf of the WHA Real Estate Management Company Limited (“REIT Manager”), the REIT Manager will manage WHART Trust with our best effort to ensure the highest benefits to all unitholders.
WHA Real Estate Management Company Limited