Bhiraj Office REIT (BOFFICE) began SET trading today
January 23 2018 - 5:00AM
JCN Newswire (English)
With potential office building project in High-End Mixed-use
Commercial Complex at the center of Sukhumvit business district
BANGKOK, Jan 23, 2018 - (ACN Newswire) - Bhiraj Office Leasehold
REIT, or SET: BOFFICE, opened for trading on the Stock Exchange of
Thailand (SET) today, 23 January, and was well received by both
institutional and retail investors after the initial public
offering price was set at 10 Baht per unit. The investment
highlights are quality, as the Grade A office building has been
designed as a Mixed-use Commercial Complex; location, situated
adjacent to the EmQuartier shopping complex at the center of the
Sukhumvit business district; and high growth potential, from the
outstanding rental rates.
Mr. Attakorn Netneramitdee, Managing Director of Bhiraj REIT
Management Co.Ltd., confirmed Bhiraj Office REIT (BOFFICE), for its
initial investment, invests in long-term leasehold right of the
BHIRAJ TOWER at EmQuartier. The leasehold right covers office area
for rent, parking area, common office area and utility system area
for the project - totaling 94,853 square meters. The leasehold
period is approximately 26 years and 9 months, starting from the
expected date to invest of 1 January 2018 until ended on 30
September 2044.
The BHIRAJ TOWER at EmQuartier is one of the quality projects
developed by BHIRAJ BURI GROUP, committed to creating value through
developing quality projects. BHIRAJ TOWER was built with a vision
of creating an outstanding Grade A office building in CBD of
Sukhumvit area that has direct connection to the BTS sky train,
Prompong station. Additionally, as a Mixed-use Commercial Complex
located in the same area as the EmQuartier shopping center, BHIRAJ
TOWER at EmQuatier is situated among many convenient facilities.
With its prominent location, BHIRAJ TOWER at EmQuartier has been
winning tenants since its launch in March 2015, allowing the
project to reach the very high 98.7% occupancy rate from the total
leased space of 49,700 square meters, as of 30 September 2017.
Mr. Taweechai Tangthanasup, Head of Investment Banking, TISCO
Securities Company Ltd, Co-Financial Advisor and Co-Lead
Underwriter, said that the asset in which Bhiraj Office REIT
(BOFFICE) will invest is a quality project that is expected to
generate attractive revenue with high growth potential, considering
its high quality as Grade A office building, high quality tenant
portfolio ranging from small businesses to large multi-national
corporations with well diversified industry of tenants, for
example, consumer goods, E-Commerce, and pharmaceutical companies
etc., allowing the project to achieve stable performance without
dependency on a particular group of tenants. Given aforementioned
strengths and its prime location, the rental rate and performance
of the asset are likely to grow consistantly in the future, making
this offering a good opportunity for the trust unitholders of
Bhiraj Office REIT to gain consistent returns on a long-term
investment.
Mr. Sawit Srisaranyapong, Chief of Investment Banking Business
Division, Kasikornbank Public Company Limited, Co-Financial Advisor
and Co-Lead Underwriter, said that BHIRAJ TOWER at EmQuartier is
one of the high growth potential projects under BHIRAJ BURI GROUP.
It is operated by Bhiraj Management Company Limited, a property
management company with extensive experience and expertise from
operating several real estate projects, for example, Bangkok
International Trade and Exhibition Centre (BITEC), United Business
Centre II (UBC II), and BHIRAJ TOWER at BITEC. With such
well-managed, it is another key factor that the BHIRAJ TOWER at
EmQuartier has been well received by all tenants.
Contact:
For Bhiraj Buri Group,
Orn-anong Pattaravechakul (Fah)
MT Multimedia Co. Ltd.
Phone: +66-86-884-4458,
+66-86-801-8888 or +66-2-612-0281 ext 129
Email: ornanong.p@mtmultimedia.com
Source: Bhiraj Office Leasehold REIT
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