Bangkok--9 Mar--mt multimedia
Univentures and Golden Land to set up Golden Ventures REITFinal Price at 10 Baht per unit, ready for subscription this upcoming March 14-18The REIT will invest in leasehold rights of Grade A office buildings on Ploenchit-Sathorn area, next to BTS.
Univentures and Golden Land offer premium-grade "Park Ventures Ecoplex" (excluding the Okura Prestige Bangkok) and "Sathorn Square" buildings as underlying assets of a Real Estate Investment Trust (REIT), Golden Ventures REIT. Located in prime areas on Ploenchit and Sathorn, close to BTS stations, both properties, with near 100-percent occupancy rate under total rental space of 100,000 square meters, were designed with a green building concept and have drawn attention from leading local and multinational corporations, as well as reputable retailers. KASIKORNBANK indicates Offering Price at 10 Baht per unit, to be available from March 14 to 18.
According to Mr. Worawat Srisa-an, Univentures President, Univentures Public Company Limited as the developer of Park Ventures Ecoplex, in collaboration with Golden Land Property Development Public Company Limited, plans to raise fund via Golden Ventures REIT. The REIT will invest in leasehold rights of building of Park Ventures Ecoplex (excluding the Okura Prestige Bangkok) and in leasehold rights of land and building of Golden Land's Sathorn Square. The two buildings have a combined area of 100,000 square meters.
Located on Ploenchit area with direct access to Ploenchit BTS Station, Park Ventures Ecoplex offers office and commercial space for rent, totaling 26,313 square meters. The eco-friendly property is highlighted with a green building design concept and is awarded the LEED Platinum in Mixed-Use Building in Thailand from the US Green Building Council (USGBC) and other energy-saving awards and recognition from many organizations at home and abroad, including the Green Building and New & Existing Building award, based on the Thailand Energy Awards 2013.
Inspired by Thai culture, its architecture resembles an act of respect and lotus which reflect authenticity of Thai heritage. The building is located in the heart of Bangkok's CBD on Ploenchit-Wireless Road intersection, with direct passage to Ploenchit BTS Station and close proximity to the express way. Such exceptional location enhances the prospect of the project which has attracted leading local and multinational companies. Its existing occupancy rate is close to 100 percent.
Mr. Thanapol Sirithanachai, President of Golden Land as a property developer, revealed that Sathorn Square is a Grade-A, eco-friendly, office building located on a prime area of Bangkok's central business area, at the Sathorn-Narathiwat Ratchanakarin intersection, with total leasable area of 73,181 square meters. The property is close to Sathorn expressway with direct passage to the Chong Nonsi BTS Station. Sathorn Square was endorsed with Gold level of Leadership in Energy and Environment Design (LEED) from USGBC in recognition of its environmentally-friendly design.
According to Ms. Jirayong Anuman-rajadhon, Managing Partner of Jaydee Partners as a financial advisor, the two prominent properties have obtained attention from reputable firms, as well as leading retailers and restaurants. At the end of September 2015, the occupancy rate of Park Ventures Ecoplex was around 99 percent, with average rental rate at 907 Baht per square meter per month, while Sathorn Square's occupancy rate was around 96 percent, with average rental rate of 745 Baht per square meter.
Therefore, Golden Venture REIT can be considered as an alternative investment which can generate stable income with growth potential. The quality of assets that Golden Ventures REIT will invest opens up an opportunity for investors to get a satisfactory return from investment.
Mr. Sittichai Mahaguna, Investment Banking Business Head of KASIKORNBANK Plc as a Sole Underwriter of Golden Ventures REIT, said the REIT will invest in approximately 25-year leasehold of building of Park Ventures Ecoplex (excluding the Okura Prestige Bangkok) and approximately 24-year leasehold of land and building of Sathorn Square.
Golden Ventures REIT will raise funds via equity offering, debt financing, and rental deposits to invest in the assets of both buildings at the maximum price of 10 billion Baht. Golden Ventures REIT was already granted permission from the SEC to issue and offer for sale of newly issued trust units. The final offering price is set at 10 Baht per unit with a minimum investment of 20,000 Baht and the subscription period will be during March 14 to 18. However, this offering is a limited offering neither for retail investors nor general public; it is only for clients or potential clients of Sole Underwriter and Selling Agents. The Sole Underwriter reserves the right to shorten the subscription period in case of over-subscription.
Mr. Urasate Navanugraha?, ?Managing Director of Univentures REIT Management as a REIT Manager, disclosed that both buildings are excellent in rental performance. Their premier locations, plus distinctive building designs, have made them continuously appealing among leading local and multinational corporations. Such key highlights allow the developers to obtain above-average rental rates of office building in Thailand, reflecting strong potential of the projects to be able to generate stable growth of rental returns in the future.