Asset World Plans New REIT With 4.8 Billion Baht Portfolio

Asset World Corporation is moving forward with the establishment of AWR, a new real estate investment trust, with a filing scheduled for September 29. The initial portfolio will comprise five freehold properties valued at not less than 48 billion baht, including four hotels and one grade-A office building located in Bangkok, Krabi, Pattaya, and Koh Samui, with a combined 647 rooms and over 418,699 square meters of usable space.

The portfolio includes Banyan Tree Krabi (72 rooms, approximately 20,666 sq m), Banyan Tree Koh Samui (88 pool villas, approximately 25,727 sq m), Meliá Koh Samui (200 rooms, approximately 25,408 sq m), Pattaya Marriott Resort and Spa (287 rooms, approximately 30,898 sq m), and The Empire, a 58-storey office building with 158,021 square meters of net rentable space and approximately 316,000 square meters of total usable area.

According to Vallabha Traisorat, president and chief executive officer of Asset World Corporation, AWR will focus on investing in premium-grade freehold properties, with the hotel portfolio ranging from luxury to upper-upscale segments managed by internationally recognized brands. The company plans for Thai investors to hold more than 50% of the fund while foreign investors will hold no more than 50%, with discussions ongoing regarding an approximate 45% foreign investor allocation, primarily institutional investors.

AWC plans to conduct roadshows with international institutional investors, with property visits scheduled to coincide with World Bank meetings in early October. The company previously presented AWR at a Real Estate Investor conference in New York attended by over 900 participants and received strong investor interest despite rising bond yields.

The listing target is set for early next year, with the REIT management company licence application already submitted on September 4. The establishment of AWR aims to clearly separate the roles of both entities, with AWC serving as the sponsor.