The year 2019 marks another successful year of WHA Premium Growth Real Estate Investment Trust (“WHART”). The WHART Trust itself has continued to grow in all aspects. The asset value under management has reached Baht 38,154,220,000, and our goal to annually invest on additional assets has successfully been met. Despite uncertainty from both internal and external factors that the Trust has been facing such as global economic instability, political issues and other unpleasant situations, WHART has still managed to maintains our sturdy operating performance and able to pay the benefits distribution and capital reduction on a regular basis.

In the previous year, WHART had additionally invested for the Fourth capital increase and invested in the assets of 5 projects for the Fifth time which has the total value of Baht 4,910,500,000 and total leasable area of 155,237.44 square meters plus another 71,482 square meters of rooftop area for solar panel installation. These invested assets are located on the prominent locations on the Bangna-Trad Road area, the logistic hub of the country, and the Eastern Economic Corridor (EEC) area which the government has provided investment promotion along with rolling out public infrastructure in the recent years. Another prominence is the tenant profile of these new assets whose business are on high-growth industries and megatrend such as e-commerce and automotive plug-in hybrid manufacturing. This also helps diversify the tenant industry profile of the Trust even more.

As a result of the 5th investment, WHART will have the asset under management of 1,283,350.60 square meters. The Trust has diversified its investment risks to all aspects regardless of locations, type of building, and industries of tenants, and we believe that this will create value-added to the WHART in the long run. In addition, on operation-side, WHART can also maintain the occupancy rate of more than 90% and the renewal rate of 70%. These achievements represent the managerial ability and the asset quality that WHART has invested. By the end of 2019, the total asset value of WHART is Baht 38,154,220,000 which makes WHART one of the biggest in REITs industry on warehouse, factory, and distribution center. The Trust generated revenue of Baht 2,263,810,000, net profit of Baht 1,914,590,000 and also paid the benefits distribution and capital reduction to trust unitholders at a higher rate which reflects positively on WHART’s performance.

Lastly, we, the Board of Directors and executive officers of WHA Real Estate Management Company Limited, the REIT Manager, would like to extend our gratitude to the unitholders for your unwavering faith and support in the company. We promise that we will manage the WHART with our best effort and ensure the highest benefits to all of the unitholders.


Sincerely yours,

REIT Manager
WHA Real Estate Management Company Limited