Frasers Property Diversified Growth
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Occupancies of FPT commercial properties remained robust
Resilient performance of prime assets boosted by business recovery
Active early lease-renewal efforts in response to upcoming Grade A new
office supply; ~86,000 sqm of office renewals and new leases in FY23
Silom Edge, a new mixed-use development in the heart of Bangkok CBD,
was launched in March 2023. Office and retail occupancy were at 92% 1 and
84% 1, respectively, as at 30 September 2023
Plan to redevelop Marriott Mayfair Executive Apartment into 'super luxury'
condominium project announced in August 2023
Maintained solid performance of hospitality portfolio following rebound in
the tourism sector
Macro Drivers and Industry Trends
Selected MNCs are looking to relocate to new
premium Grade A offices to improve workplace
quality, retain talent and meet corporate ESG
standards7
Thailand welcomed 15.3 million foreign tourist arrivals
from January to July 2023, with total revenue
generated of 638 million baht8
Office & Retail Metrics
S$1.0 b
AUM²
AOR¹
30 Sep 23
92.8%
30 Jun 23
93.1%
31 Mar 23
92.1%
31 Dec 22
WALE³
1.7 years
1.7 years
1.6 years
91.1%
1.6 years
30 Sep 22
90.3%4
1.3 years
Hospitality Metrics 5
30 Sep 23
30 Jun 23
31 Mar 23
S$0.3 b
AUM²
AOR
71.8%
ADR6
RevPAR6
S$146.8
S$105.5
72.7%
S$147.2
S$107.0
73.9%
S$147.0
31 Dec 22
73.9%
S$140.0
30 Sep 22
46.7%
S$111.4
S$108.7
S$103.5
S$52.0
1. Committed occupancy as at period end; by gross rent. 2. Comprises property assets in which the Group has an interest. 3. By income as at period end. 4. FY22 AOR was previously calculated using average across the year. FY23 AOR has been
restated. 5. Averaged over reporting period. 6. Based on exchange rates S$/THB: 0.038578 for FY23. 7. retalkasia.com/news/2023/02/23/cbre-thailand-reveals-real-estate-trends-watch-2023/1677120946.
8. bangkokpost.com/thailand/general/2623553.
We are Frasers Property
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