FY22 Financial Highlights
Capitalising on Vietnam's economic upturn to deliver further growth
Strengthening commercial and industrial capabilities
Stepped up leasing efforts to drive occupancy
Ramped up occupancy rate at Worc@Q2¹ serviced office tower to 71.5%, up
from 21%; occupancy rate at Melinh Point remains stable at over 90%
Achieved 60% occupancy rate at Binh Duong Industrial Park ("BDIP") and
preleasing rate of 68%
Proactively identified opportunities to enhance the properties' competitiveness
Completed three purpose-driven amenities and community spaces in Worc@Q2
to enhance tenant experience and drive rental growth
•
Successfully re-positioned Melinh Point as a Grade A Office Building
Maintained steady progress of development projects
Completed handover of residential project at Q2 Thao Dien¹
Infrastructure upgrading works at BDIP are progressing well. Completed over
40,000 sqm of ready-built-factories; next phase of construction of ~100,000 sqm
of factories and warehouses targeted for completion over the course of FY23
Macro Drivers and Industry Trends
Y-o-Y GDP growth of 8.8% in 9M 2022, with 2022
growth forecast ranging from 6.5% to 8.5%6
Stable rent and occupancy in 9M 2022 for Grade A and
Grade B offices in HCMC; more developers are
considering green buildings and ESG performance6
Rental rates for ready-built-factories in the South Key
Economic Region stabilised while rental rates for
ready-built-warehouses increased 9% Y-0-Y6
Commercial Portfolio Metrics
FY22
FY21
Change
S$0.1b
AUM²
AOR³
87.2%
78.6%5
▲ 8.6 pp
WALE4
1.9 years
2.0 years ▼ 5.0%
Binh Duong Industrial Park (BDIP), Binh Duong Province, Vietnam
1. In Ho Chi Minh City ("HCMC"). 2. Comprises property assets in Vietnam in which the Group has an interest. 3. Committed occupancy as at 30 September; by NLA. 4. By revenue as at 30 September. 5. FY21 AOR was previously calculated
using average across the year. FY21 AOR has been restated as at 30 September 2021. 6. cushmanwakefield.com/en/vietnam/insights/ho-chi-minh-city-marketbeat-q3-2022.
We are Frasers Property
52
52View entire presentation