Thailand’s economy in Q1 2022 was affected by rising energy and commodity prices which affected cost of living as well as production cost. Headline inflation (CPI) continuously increased during this quarter from 3.23% Y-o-Y in January to 5.28% Y-o-Y in February and 5.73% in March.
The Bank of Thailand (BoT) has lowered its gross domestic product (GDP) growth forecast down to 3.2% due to the ongoing impact of the pandemic and the conflict between Russia and Ukraine. In the latest BoT monetary meeting in March 2022, the committee unanimously voted to maintain the policy rate at 0.50%.
There were three real estate investment trusts (REITs) with additional investments.
• Ally Leasehold REIT (ALLY) invested in the leasehold right over land and building in The Prime Hua Lamphong project with a total investment value of THB 171.8 million.
• KTBST Mixed Leasehold Real Estate Investment Trust (KTBSTMR) invested in the freehold right over land and building in Interlink Data Center with a total investment value of THB 750 million.
• Prospect Logistics and Industrial Freehold and Leasehold Real Estate Investment Trust (PROSPECT) invested in the freehold right over land, factory and office building in X44 Bangna Km.18. The total investment value was THB 80 million.