IMPACT Growth Real Estate Investment Trust

What IMPACT Growth Real Estate Investment Trust does

IMPACT Growth Real Estate Investment Trust is a Thai publicly listed real estate investment trust that invests in freehold exhibition and convention center properties. The trust was established in 2014 and is managed by RMI Co., Ltd. (บริษัท อาร์ เอ็ม ไอ จำกัด), with Kasikorn Securities Asset Management acting as Trustee and IMPACT Exhibition Management Co., Ltd. serving as Property Manager. Its portfolio comprises four venue assets — IMPACT Arena, IMPACT Challenger, IMPACT Forum, and IMPACT Exhibition Center — located at the Muang Thong Thani complex in Nonthaburi, Thailand, and collectively forming the largest exhibition and convention center complex in Thailand and Southeast Asia.

The trust generates revenue primarily through space rental income from exhibition halls, convention centers, and meeting rooms, which it then distributes to unitholders via quarterly dividend payments. Under Thai REIT regulation, the trust is required to distribute at least 90% of adjusted net profit to unitholders. Customer segments include MICE industry participants (exhibition organizers, conference hosts, and corporate clients), concert and entertainment organizers, and international event hosts; Bangkok Land Public Company Limited (BLAND) is a related entity given the Muang Thong Thani development context.

Units trade on the Stock Exchange of Thailand (ticker: IMPACT), with pricing determined by market forces rather than direct sale. As of July 2026, the last done price was THB 11.60 per unit against an NAV per unit of THB 11.1424 as of March 2026. Marketing and investor communications are conducted through the investor relations portal, SET announcements, press releases, and television appearances. Distribution is purely self-serve via the SET trading platform, with IPO units initially placed via joint lead underwriters Kasikorn Securities, Maybank Kim Eng, and Bangkok Bank.

Name

IMPACT Growth Real Estate Investment Trust

Legal name

IMPACT Growth Real Estate Investment Trust

Website

https://impactgrowthreit.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

IMPACT Growth REIT is a publicly listed Thai real estate investment trust that owns and operates the largest exhibition and convention center complex in Thailand and Southeast Asia at Muang Thong Thani, generating revenue through venue space rentals for MICE industry clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Space Rental Income: Rental revenue from exhibition halls, convention centers, and meeting rooms at IMPACT Arena, IMPACT Challenger, IMPACT Forum, and IMPACT Exhibition Center located at Muang Thong Thani.
2. Dividend Distribution to Unitholders: The trust distributes at least 90% of adjusted net profit to unitholders as required by Thai REIT regulations.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

IMPACT Growth REIT is a publicly listed real estate investment trust on the Stock Exchange of Thailand that owns and generates income from four exhibition and convention venue properties — IMPACT Arena, IMPACT Challenger, IMPACT Forum, and IMPACT Exhibition Center — located at Muang Thong Thani, the largest MICE (Meetings, Incentives, Conventions, Exhibitions) complex in Thailand and Southeast Asia. The trust collects rental revenue from these venues and distributes at least 90% of adjusted net profit to unitholders as quarterly dividends.

Product overview

IMPACT Growth REIT is a Real Estate Investment Trust that operates as a single unified portfolio of MICE (Meetings, Incentives, Conventions, and Exhibitions) venues. The REIT's portfolio consists of four core venue products—IMPACT ARENA, IMPACT CHALLENGER, IMPACT FORUM, and IMPACT EXHIBITION CENTER—all located within the IMPACT Muang Thong Thani complex in Nonthaburi, Thailand. These venues collectively form the largest exhibition and convention center in Thailand and Southeast Asia, generating revenue through space rentals, event hosting, and related MICE services. The REIT does not operate modular or add-on products; its offering is the consolidated ownership and management of these venue assets.

Differentiator

Problem solved

Functional benefit

Products and services

• IMPACT Arena Large-scale arena venue at IMPACT Muang Thong Thani used for concerts, world-class entertainment events, and large exhibitions; serves as a primary revenue-generating asset for the REIT.
• IMPACT Challenger Exhibition and convention hall at IMPACT Muang Thong Thani providing flexible space for events, trade shows, and conferences.
• IMPACT Forum Conference and meeting facility within the IMPACT venue complex, catering to corporate events and conventions.
• IMPACT Exhibition Center Primary exhibition center at IMPACT Muang Thong Thani, recognized as one of the largest MICE venues in Thailand and Southeast Asia.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered major and core.

• IMPACT Live NationmajorStrategic or Co-development Partner · 4 April 2025IMPACT Live Nation secured a 20-year arena lease agreement for IMPACT Arena, approved at the unit holders' meeting. This partnership enhances the venue's concert and entertainment event capabilities.
• RMI Co., Ltd.coreOthers · 1 September 2014RMI Co., Ltd. serves as the REIT Manager for IMPACT Growth REIT, responsible for managing the trust's investments and operations. The company submitted the application to establish the REIT and manages day-to-day REIT operations.
• Kasikorn Securities Asset Management Co., Ltd.coreOthers · 1 September 2014Kasikorn Securities Asset Management Co., Ltd. serves as the Trustee for IMPACT Growth REIT, responsible for safeguarding unitholders' interests and overseeing trust operations.
• IMPACT Exhibition Management Co., Ltd.coreStrategic or Co-development Partner · 1 September 2014IMPACT Exhibition Management Co., Ltd. serves as the Property Manager, overseeing the management of exhibition and convention centers. The company has over 15 years of experience managing IMPACT venues.

Scale indicators12 records

Recent moves6 records

Expansion highlights1 record

Broad incumbents

• CPN Retail Growth Leasehold REIT: Large Thai REIT listed on the SET, focused on retail properties in Bangkok and major Thai cities. It is the most prominent Thai REIT peer, sharing the same regulatory structure, distribution mandate, and domestic investor base, but operates in retail rather than MICE venues.

Regional players

• ASM Global: World's largest venue management and event services company, managing convention centers and arenas globally. Operates a similar venue business model to IMPACT Exhibition Management (the REIT's Property Manager) but at a global scale.

Others

• Live Nation Entertainment: Global live entertainment company and the counterparty to IMPACT Growth REIT's 20-year arena lease. Not a peer but the most important tenant relationship in the portfolio and a key driver of forward revenue.
• IMPACT Exhibition Management Co., Ltd. Operating company and Property Manager for IMPACT Growth REIT with 15+ years of venue management experience. Not a listed peer, but the closest operator-level comparable for understanding venue economics and operating cost structure.
• Bangkok Land Public Company Limited: Listed Thai property developer that developed and retains interests in the Muang Thong Thani master plan, where IMPACT Growth REIT's four properties are located. A related-party counterparty and ecosystem participant rather than a direct competitor.

Emerging players

• Informa plc: Global B2B events and exhibitions company (LON: INF) operating major trade show portfolios. Comparable as the demand-side driver of MICE venue economics, though it operates exhibitions rather than owning venues.
• RELX plc (Reed Exhibitions): Global information and events company with a major exhibitions business. Comparable on the demand side of MICE venue utilization, though the company owns exhibition brands rather than physical venues.

Direct peers

• TICON Freehold and Leasehold Real Estate Investment Trust: Thai SET-listed industrial REIT (formerly TICON). Comparable as another pure-play Thai REIT with a focused asset strategy, providing a direct benchmark for investor demand and unit-price behavior in the Thai REIT ecosystem.
• WHA Premium Growth Freehold and Leasehold REIT: Thai SET-listed REIT investing in industrial and logistics properties. Shares the same Thai REIT regulatory structure and is a direct comparable on trust vehicle mechanics, unitholder obligations, and 90% distribution requirements, though in a different asset class.
• Hemaraj Leasehold REIT: Thai SET-listed REIT holding industrial estates, factories, and warehouses. Direct Thai REIT peer with identical Thai trust regulation and distribution requirements, providing a clean read-through on REIT-level valuation multiples and yield dynamics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 IMPACT Growth Real Estate Investment Trust