Thailand gets first REIT

Impact2The Thai capital market expects its first ever real estate investment trust (REIT) in the 4th quarter 2013, issued by Impact Exhibition Management, the company that manages Bangkok’s largest exhibition center,

Imapct, a unit of  SET-listed Bangkok Land Plc, said the REIT will have a volume of 20 billion baht ($640 million) and will be issued to finance its second phase expansion of the exhibition area in northern Bangkok.

After approval by the Securities and Exchange Commission (SEC) of the Stock Exchange of Thailand, the price will be set. Bangkok Land wants to maintain a 50 per cent stake in the fund for at least five years.

The issuance comes after the SEC changed regulations for trusts and fund listings earlier this year, with the first new such listing having been the $1.2 billion BTS Rail Mass Transit Growth Infrastructure Fund, the country’s first infrastructure fund, which went public in April.

Impact said half of the proceeds of the fund, or 10 billion baht, will be part of the investment to build the Impact II project with a new exhibition and convention center, hotel, condominiums and shopping mall. Construction is expected to take 18-24 months.

It added that the corporate tax waiver of a REIT allows the fund to pay a satisfactory dividend to stakeholders.



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The Thai capital market expects its first ever real estate investment trust (REIT) in the 4th quarter 2013, issued by Impact Exhibition Management, the company that manages Bangkok's largest exhibition center, Imapct, a unit of  SET-listed Bangkok Land Plc, said the REIT will have a volume of 20 billion baht ($640 million) and will be issued to finance its second phase expansion of the exhibition area in northern Bangkok. After approval by the Securities and Exchange Commission (SEC) of the Stock Exchange of Thailand, the price will be set. Bangkok Land wants to maintain a 50 per cent stake in...

Impact2The Thai capital market expects its first ever real estate investment trust (REIT) in the 4th quarter 2013, issued by Impact Exhibition Management, the company that manages Bangkok’s largest exhibition center,

Imapct, a unit of  SET-listed Bangkok Land Plc, said the REIT will have a volume of 20 billion baht ($640 million) and will be issued to finance its second phase expansion of the exhibition area in northern Bangkok.

After approval by the Securities and Exchange Commission (SEC) of the Stock Exchange of Thailand, the price will be set. Bangkok Land wants to maintain a 50 per cent stake in the fund for at least five years.

The issuance comes after the SEC changed regulations for trusts and fund listings earlier this year, with the first new such listing having been the $1.2 billion BTS Rail Mass Transit Growth Infrastructure Fund, the country’s first infrastructure fund, which went public in April.

Impact said half of the proceeds of the fund, or 10 billion baht, will be part of the investment to build the Impact II project with a new exhibition and convention center, hotel, condominiums and shopping mall. Construction is expected to take 18-24 months.

It added that the corporate tax waiver of a REIT allows the fund to pay a satisfactory dividend to stakeholders.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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