Portfolio Performance

At the end of Q3/2024, the trust had a total net leasable area of approximately 164,534 square meters, an increase of 2.7 percent from the same period last year after receiving the transfer of the new Happy Avenue Don Mueang project in the previous quarter, with an average rental rate of 587 baht per square meter per month and an average rental increase rate of 5 percent compared to the previous quarter. In addition, the trust was able to renew the contract with the original tenants by more than 90 percent and signed contracts with new tenants in Q3/2024 of more than 5,000 square meters, divided into 29 percent from the restaurant business, such as Long Mo Suki, Hong BAO, Nikuya, 24 percent from the beauty business, such as Care a Lot Wellness, and 14 percent from the education business, such as J Dance Studio, PET Kingdom, etc. Due to the continuous increase in shops and activities in the shopping mall, the number of customers using the services at the shopping mall increased by 1.4 percent compared to the previous quarter. And resulting in the trust being able to achieve an average occupancy rate of 93.4 percent, an increase of 0.2 percent compared to the previous quarter.

The overall performance of the trust in Q3/2024 generated total revenue of 391.5 million baht, a decrease of 6.5 percent compared to the previous quarter (QoQ) of 419.0 million baht due to seasonal factors from entering the low season of the business. However, the trust has proceeded with the efficient management of the project, resulting in a decrease in total expenses of 3.2 percent compared to the previous quarter, resulting in a net investment profit of 138.9 million baht, a decrease of 12.1 percent compared to the previous quarter, which had a net investment profit of 157.9 million baht. The trust has considered paying benefits. From the operating results in Q3/2024 at the rate of 0.1300 baht per unit, total value of 113.6 million baht, with the book closing date for the right to receive the benefits on November 22, 2024 and the payment of benefits to unitholders on December 19, 2024, and when combined with the payment of benefits in the first 6 months of 2024, the trust will pay benefits at the total rate of 0.3940 baht per unit, total value of 344.4 million baht.