Thailand Prime Property Freehold & Leasehold REIT

Name

Thailand Prime Property Freehold & Leasehold REIT

Legal name

Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust

Website

https://en.tprimereit.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Klong Toey

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental Income from Office and Retail Spaces: TPRIME generates revenue primarily through rental income from its two investment assets: Mercury Tower and Exchange Tower. The trust collects rent from office tenants occupying grade A office space and retail tenants in retail areas. This rental income is then distributed to unitholders after deducting management fees and operating expenses.

Pricing tiers

Distribution channels2 records

Marketing channels4 records

Core offering

Thailand Prime Property Freehold and Leasehold REIT (TPRIME) is a publicly listed real estate investment trust that invests in and leases out two Grade A office buildings in Bangkok's CBD—Exchange Tower and Mercury Tower. The trust collects rental income from office and retail tenants and distributes returns to unitholders on the SET. It is managed by SCCP REIT Company Limited with Kasikorn Asset Management as Trustee.

Product overview

Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust (TPRIME) is a REIT structured as a single unified investment vehicle focused on Bangkok's prime office real estate sector. The portfolio comprises two core investment assets: Exchange Tower (a freehold-dominant 41-floor Grade A office building connected to BTS Asoke and MRT Sukhumvit) and Mercury Tower (a 25-floor Grade A office building with leasehold rights, connected to BTS Chidlom, featuring the Mercury Ville retail component). These properties provide lettable office space totaling approximately 53,364 sqm and retail space totaling approximately 12,338 sqm. TPRIME is managed by SCCP REIT Company Limited as REIT Manager, with Kasikorn Asset Management Company Limited serving as Trustee. The trust offers investors comprehensive IR services including financial reporting, stock information, NAV announcements, and dividend distributions.

Differentiator

Problem solved

Functional benefit

Products and services

• Exchange Tower (investment asset) A 41-floor Grade A office building directly connected to BTS Asoke and MRT Sukhumvit stations in Bangkok's CBD. Owned by TPRIME through at least 99.99% of shares of Exchange Tower Co., Ltd., with 80,944.42 sqm of gross floor area comprising 35,232.35 sqm of lettable office space and 5,705.46 sqm of lettable retail space. 97% occupancy.
• Mercury Tower (investment asset) A 25-floor Grade A office building directly connected to BTS Chidlom station at the corner of Ploenchit and Langsuan Road, Bangkok. Held under leasehold rights with 52,882 sqm of gross floor area comprising 18,132.13 sqm of lettable office space and 6,633.3 sqm of lettable retail space, including the Mercury Ville retail component with over 50 retail shops. 95% occupancy.
• TPRIME REIT trust units Listed trust units on the SET providing investors exposure to TPRIME's portfolio of Grade A office buildings in Bangkok's CBD, with returns derived from rental income and capital appreciation.
• REIT management services (SCCP REIT Company Limited) Professional management of TPRIME including property operations, occupancy optimization, and asset value maximization for unitholders.
• Trustee services (Kasikorn Asset Management Company Limited) Supervision and administration of TPRIME in the best interest of unitholders, as the designated trustee of the trust.

Quantifiable outcome

• Exchange Tower maintains 97% occupancy rate
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• ServcorpminorOthers · 24 January 2018Servcorp, a global provider of flexible workspace with locations in 23 countries, became a tenant at Mercury Tower occupying 1,038.57 sqm on the 11th floor for serviced offices and co-working space. This is Servcorp Thailand's fourth location in the country.
• SCCP REIT Company LimitedcoreStrategic or Co-development Partner · 11 October 2016SCCP REIT Company Limited serves as the REIT Manager of TPRIME, responsible for managing the trust's operations, maintaining occupancy rates, and maximizing asset value. Located at 388 Exchange Tower, 39th Floor, Bangkok.
• Kasikorn Asset Management Company LimitedcoreStrategic or Co-development Partner · 11 October 2016Kasikorn Asset Management Company Limited serves as the Trustee of TPRIME, responsible for supervising the performance of the REIT Manager and administering the trust in the best interest of unitholders. Located at KASIKORNBANK Building, Phahon Yothin Road, Bangkok.

Scale indicators7 records

Recent moves7 records

Expansion highlights3 records

Others

• Raimon Land: Thai luxury condominium and commercial property developer. Adjacent to TPRIME through Bangkok commercial real estate exposure but operates as a developer rather than a REIT.

Emerging players

• Golden Venture Leasehold REIT: Thai leasehold REIT investing in commercial assets, comparable on trust structure and Thai commercial real estate exposure though smaller in scale.
• Tesco Lotus Retail Growth Freehold and Leasehold REIT: Thai retail REIT owned by Tesco Lotus, structurally similar (freehold + leasehold REIT) but with retail-focused assets; useful for benchmarking trust-level dynamics in Thailand.

Direct peers

• Prime Office Leasehold REIT: Thai SET-listed REIT focused on Grade A office buildings in Bangkok, closely comparable to TPRIME's office-only, CBD-anchored strategy.
• WHA Business Complex Freehold and Leasehold REIT: Thai REIT investing in freehold and leasehold office/industrial assets, directly comparable on structure and asset mix to TPRIME.
• IMPACT Growth REIT: Thai REIT holding exhibition and office real estate around Muang Thong Thani, comparable as a Thai commercial-property REIT with similar trust/unit structure.

Regional players

• CapitaLand Integrated Commercial Trust (CICT): Singapore-listed REIT with Grade A office and retail assets in Singapore; relevant regional benchmark for Asian CBD office REIT valuation and structure.

Broad incumbents

• Frasers Property Thailand: Thai arm of Frasers Property, an institutional commercial property owner/developer. Comparable as a Bangkok commercial real estate operator though not a pure REIT vehicle.
• LH Hotel Leasehold REIT: Thai hospitality-focused REIT with similar trust structure and leasehold/freehold characteristics, but operating in hotels rather than offices.
• CPN Retail Growth Leasehold REIT: One of Thailand's largest REITs, focused on retail rather than office. Comparable on REIT structure, SET listing, and Bangkok-centric commercial exposure, though asset class differs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thailand Prime Property Freehold & Leasehold REIT