กรุงเทพฯ--7 ธ.ค.--MT Multimedia
The Strategic Property Investors Co.,Ltd (SPI) has launched The Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust or SHREIT to raise up to 3,740 million baht to invest in renewable rights to operate and lease three 3-5 stars hotels in the ASEAN region notably Indonesia and Vietnam.
The Highlight of SHREIT focuses on independent professional management of the hotel properties in order to seek maximum returns for investors. These hotel properties all carry strong growth potentials because they cater to specific target groups including tourists, businessmen and domestic consumers at a time when the domestic economy and tourism industries in the region are booming.
Mr. James Lim, Executive Director of SPI, disclosed that the company is an Independent REIT Manager which is managed by professionals with extensive experience and direct expertise in the management of hotel properties and also enjoy the backing of a global network. He stated that SPI has an independent investment policy which enables it to invest in any suitable properties from any sellers. "These positive factors allow us to create greater value for the investment trust by adding new properties in the future in order to generate maximum returns for the investors," Mr. James Lim said.
He added that "the good thing about being an independent REIT manager is that we can manage professionally with full efficiency which helps us to maximize full benefits from the properties that we invest in. We also have full options to acquire new properties and thereby generating maximum returns for investors".
Mr. Chanond Ruangkritya, Director and Major Shareholder of SPI, stated that he is interested in asset management and the management of Real Estate Investment Trust (REIT) because the business can generate consistent revenue. He added that the company's outstanding feature is to invest in overseas properties and has aimed to raise the assets under management (AUM) consistently.
Mr. Artapong Porndhiti, Executive Vice President, Investment Banking 2, Siam Commercial Bank, in his capacity as financial advisor stated that SHREIT is managed by an independent REIT manager which is a new management model for Thailand but it is widely practised in Singapore. This management model creates flexibility to invest in additional new properties and therefore the REIT can continue to grow consistently.
He said the properties that SHREIT is investing in are quality hotels located in important economic zones which have high growth rates and strong economic fundamentals that will support the property's performance. Moreover, SHREIT presents a good opportunity for Thai investors to invest in foreign hotel properties to diversify risks as against REIT investment in hotel properties at present which are limited to Thai properties only.
Ms. Veena Lertnimitr, Executive Vice President, Primary Distribution, Siam Commercial Bank, in her capacity as Financial Advisor and Underwriter stated that the total outlay of SHREIT will not exceed 5,420 million Baht which will include the subscription of Trust units with combined value of no more than 3,740 million Baht plus another 1,680 million Baht in borrowings from financial institutions. She stated that the estimated returns are in the range of 7.67% - 7.72% annually as disclosed in the prospectus. The subscription will be offered to business partners, parties related to the REIT manager, institutional investors, Foreign Initial Purchasers, patrons of the underwriters as well as general investors. She is confident that SHREIT will be positively received by the investors because of the strong fundamentals of the three hotel properties.