AIMIRT to gain B1.1bn funding

Value of investment increased to B14.1bn

- NUNTAWUN POLKUAMDEE

AIM Group has announced an additional investment of 1.1 billion baht in the AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT), bringing total investment in the fund to 14.1 billion baht.

The group also plans to address financial challenges in its AIMCG commercial property fund by seeking unitholder approval to convert its leasehold assets to freehold ownership.

The group currently manages 19 real estate projects worth over 16 billion baht through its two flagship real estate investment trusts (REITs).

AIMIRT, which was established in December 2017 and is listed on the Stock Exchange of Thailand (SET), focuses on premium industrial assets including warehouses, factories, cold storage facilities and liquid chemical tanks. The fund currently manages assets worth 13.1 billion baht.

In this year's second half, AIMIRT will invest an additional 1.1 billion baht in two projects, the first being an industrial warehouse facility in Rayong.

The other project involves the expansion of the company's Pacific Cold Storage facility in Bangkok's neighbouring province of Samut Sakhon.

AIMIRT showed resilience during the Covid-19 pandemic, maintaining cost efficiency during high interest rate periods.