WHA Industrial Leasehold REIT (WHAIR) Gains Unitholder Approval for THB 1,118 Million Investment Expansion

Bangkok, 20 June 2024 – Ms. Jareeporn Jarukornsakul (Center), Chairman of the Executive Committee and Group Chief Executive Officer, together with Mr. Krailuck Asawachatroj (Third from Right), Committee, and Ms. Jarucha Satimanont (Far Right), Managing Director of WHA Industrial REIT Management Co., Ltd., and Trust Manager of WHAIR, along with the company’s board and management team, participated in the first E-EGM of 2024 for WHAIR unitholders at WHA Tower. The WHAIR unitholders approved the trust's fifth additional investment of up to THB 1,118 million. WHAIR plans to file for this additional investment with the Securities and Exchange Commission (SEC) soon

Bangkok, Thailand - June 20, 2024 - WHAIR unitholders have given the green light for the REIT to proceed with its fifth additional investment, worth up to THB 1,118 million. The investment will focus on acquiring leasehold rights for four land and factory-warehouse projects from three WHA Group companies. This strategic move will elevate the REIT's total asset value to surpass THB 14,000 million and expand its leasable area to 468,990 square meters.

Ms. Jarucha Satimanont - Managing Director of WHA Industrial REIT Management Co., Ltd., and Trust Manager of WHAIR, stated, "The approval for WHAIR's fifth additional investment marks a significant step forward for the REIT and its unitholders.  The total investment value is estimated to be up to THB 1,118 million, encompassing a combined project area of 40,172 square meters. These strategic acquisitions are expected to enhance the REIT's portfolio diversification and risk mitigation strategies, while contributing to sustainable long-term returns for unitholders.

1. WHA Eastern Seaboard Industrial Estate Co., Ltd: This investment involves acquiring leasehold rights for two projects located within WHA Eastern Seaboard Industrial Estate 1 (WHA ESIE 1) and WHA Logistics Park 3 (WHA LP 3). The combined area of these projects is 22,912 square meters, comprising both factory and warehouse space.
2. WHA Industrial Building Co., Ltd: This investment entails acquiring leasehold rights for WHA Logistics Park 1 (WHA LP 1). The project encompasses a total area of 12,260 square meters.
3. WHA Rayong 36 Industrial Estate (WHA Rayong 36): This investment involves acquiring leasehold rights for a factory project located within the WHA Rayong 36 Industrial Estate. The project area is 5,000 square meters.

This investment aligns with our commitment to providing sustainable and long-term returns to our unitholders. The carefully selected assets are of high quality, possess strong income-generating potential, and are strategically located within the EEC special economic zone. Moreover, this diversification of our revenue streams and risk mitigation strategies will further enhance the REIT's overall resilience."

Upon completion of this primary asset investment, WHAIR's total asset value will surpass THB 14,000 million, and its leasable area will expand to 468,990 square meters. Following the unitholders' approval, WHAIR REIT will proceed with filing the required information and draft prospectus with the Securities and Exchange Commission (SEC) to seek approval for offering additional unitholders' units for the fifth additional investment. The investment is expected to be finalized by the end of 2024.