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Ticon eyes REIT conversion

By on Sep 11, 2014 in Industrial, Property News

Ticon Management, a real estate investment trust (REIT) manager under Ticon Industrial Connection (TICON), plans to enlarge Ticon REIT’s (TREIT) asset size to 20 billion baht in three to five years.

TREIT, expected to go public in the final quarter with an asset size of 4-5 billion baht, has a few options to increase its assets. It can acquire more assets from Ticon or others, or convert Ticon’s existing property funds, said Amorn Chulaluksananukul, Ticon Management’s managing director.

TREIT will raise funds from the public to invest in Ticon’s 160,000-square-metre warehouse and 5,000-sq m factories, with 65% of the fund slated for leasehold.

Ticon plans to hold 20-25% of TREIT, with the remainder sold through Bangkok Bank.

“Investors from Vietnam, Laos, Malaysia, Cambodia and Indonesia have approached Ticon to build logistics hubs in those locations. These foreigners are looking for a trustworthy estate manager,” said Mr Amorn.

Ticon Management is looking to invest in rental office buildings and community malls in the future.

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Source | Bangkok Post 10 September 2014

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