Key Operating Indicators

As of August 16, 2021

Net Leasable Area
146,889 sqm.
Occupancy Rate
93.3%
Average Rental Rate
521 baht/sqm.
Rental Reversion Rate
1.1%
Retention Rate
80%
Weighted Average Lease Expiry
3.88 yrs

Portfolio Performance

(Million Baht)
Average rental rate (Baht/sqm)
Net Rate
Occupancy rate
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)
Retention rate
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.