Impact Growth REIT: creating a destination for everyone
Impact Growth Real Estate Investment Trust, backed by the Impact Exhibition Center and related facilities, began trading on the SET in October 2014. Paul Kanjanapas, managing director of Impact Exhibition Management Co Ltd, the property manager of Impact Growth REIT, discusses the strategy and outlook for the fund and its assets.
Which assets are currently in the REIT?
We acquired the four freehold assets — Impact Area, Impact Challenger, Impact Exhibition Center and Impact Forum — from Impact Exhibition Management, which is owned by Bangkok Land (BLAND) on Sept 29, 2014.
Together they represent the largest exhibition and convention centre in Asean with a total gross area of 481,938 square metres and net lettable area of 165,606 sq m.
We launched the fund with 80% equity and 20% debt and its net asset value as of the end of 2015 was just over 16 billion baht. Our dividend policy is at least 90% of adjusted net profit, paid quarterly to our unit holders.
Who are the customers of the assets?
We have created something unique in Bangkok as we have the only location that can cater to virtually any type of business. At Impact Arena we have concerts, family shows, incentive events and parties, and the other three sites cater to exhibitions, both business to business and business to consumer, conferences, meetings and banquets. In the third quarter of our 2015-16 financial year, 70% of our clients were from the domestic private sector, 23% public sector and 7% international private sector; however, over 12 months the last group represented 15%.
Paul: Committed to giving value to investors
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