Key Operating Indicators
As of August 16, 2021
Net Leasable Area
Average Rental Rate
Rental Reversion Rate
Weighted Average Lease Expiry
Portfolio Performance(Million Baht)
Average rental rate (Baht/sqm)
Occupancy rate dropped slightly QOQ to 93.3% as a result of smaller space preference by tenants during the quarter. However, it improved materially YOY due to our “Synergy Made Growth” strategy.
On account of 1Q21 lofty rental reversion rate, 2Q21 average rental rate was up slightly 0.4% QOQ to 521 baht/sqm amid pressure from less revenue sharing. Net ARR decreased 10% QOQ to 419 baht/sqm from higher tenant support discount rate.
Leasing Performance(Million Baht)
Rental reversion rate
Retention rate dropped to 80% mainly due to property renovations and tenant churning strategy. Excluding those renovated properties, retention rate was 97%
2Q21 rental reversion rate stood positively at 1.1%, suggest optimistic expectation of the future.