QHHRREIT announced its maximum offering price on February 17th, expected to be no more than 6.70 baht per unit.
QHHRREIT announced its maximum offering price on February 17th, expected to be no more than 6.70 baht per unit. Subscriptions will be open from February 23rd to 27th. Targeting the Super Prime CBD area, the trust will invest in 'Center Point Chidlom' for a long-term 30-year term, expecting a return of at least 10.8% in the first year after the first capital increase.
February 10, 2569 Mr. Monrat Padungsit, Managing Director of Land and Houses Asset Management Co., Ltd., in his capacity as the manager of the Quality Houses Hotel and Residences REIT (QHHRREIT). revealed that
QHHRREIT is proceeding with its second additional investment in the 'Center Point Chidlom' project, reinforcing its leadership in investing in hotel and serviced apartment properties in the super prime CBD of Bangkok. The trust projects a strong occupancy rate of 91.2% for the first nine months of 2025.
The company is confident in generating stable long-term returns, with projected dividend payments to unitholders in the first year after the first capital increase of no less than 10.8%. The maximum offering price for the new capital units will be announced on February 17, 2026, via the Stock Exchange of Thailand website. The maximum offering price will not exceed 6.70 baht per unit, giving existing unitholders and the general public the opportunity to subscribe simultaneously from February 23-27.
Mr. Monrat stated that the overall Thai tourism sector is entering a new growth phase, particularly Bangkok, which holds the top spot as one of the world's leading tourist destinations. This is coupled with the Ratchaprasong-Chidlom area being upgraded to become a full-fledged world-class shopping destination.
These factors have a direct positive impact on the occupancy rate and average daily rate (ADR) of hotels and serviced apartments in this area, leading to continuous growth. Furthermore, the timing of this investment is highly advantageous due to the declining interest rate environment, which will directly benefit the trust fund by lower financing costs for additional long-term loans. This will reduce operating costs, enhance profitability and net cash flow, and enable the trust fund to deliver attractive returns to unit holders.
Mr. Sukawat Bhavasant, Senior Director, Land and Houses Asset Management. As the trust manager, QHHRREIT states that it focuses on investing in high-quality assets in super prime locations. Currently, it has four main assets: Center Point Plus Pratunam, Center Point Sukhumvit 10, Center Point Plus Silom, and Center Point Chidlom. Regarding the listing...
This additional investment in the Center Point Chidlom project is in the form of a long-term leasehold right for 30 years (June 1, 2569 – May 31, 2599), with the following key features:
- The location is a strategic super prime location. The project is located on Langsuan Road in Pathumwan district, a prime location with extremely high and scarce land values. It's close to Chidlom BTS station and Lumpini Park, and surrounded by world-class amenities, making it highly sought after by expat customers.
- High Asset Quality This 24-story building features 178 guest rooms and parking for up to 82 cars, offering a total usable area of over 22,360 square meters. It provides a variety of room types, from studios to three-bedroom units, along with a full range of amenities including a swimming pool, children's playroom, Blue Spice restaurant, fitness center, recreation rooms, and meeting rooms. The building is well-maintained and continuously updated to maintain its modern facilities.
- Proven Performance The property has delivered outstanding performance, with the average occupancy rate soaring to 91.2% in the first nine months of 2025, up from 90.0% in 2024, reflecting the strength of the brand and genuine demand for accommodation.
- Secure Revenue Structure This investment is structured to provide stable benefits and growth opportunities. The trust will receive a fixed rental income of approximately 51.32 million baht per year, with a 2% increase every 3 years, and a variable rental income of 90% of net profit after deducting the fixed rental income. This ensures that unit holders fully benefit from the growth of the company's performance.
Ms. Mallika Tassaniphan, Senior Director of Center Point Sukhumvit 10 and Center Point Chidlom Hotels. As the management team of Center Point Hotel, they stated that the Center Point Chidlom project is a high-quality asset, comparable to a crown jewel on Langsuan Road in the central business district (CBD), surrounded by leading shopping malls and Grade A office buildings.
Managed under the 'Centre Point' brand by QHI, a subsidiary of Quality Houses Public Company Limited (QH), which has over 30 years of experience in the hotel and serviced apartment business, coupled with continuous rebranding and service upgrades, the project is modern and perfectly caters to the lifestyles of both Thai and international residents.
Ms. Rapeeporn Boonyarak, Department Head, Product Distribution and Development, Siam Commercial Bank Public Company Limited. Speaking as a financial advisor and underwriter, he said:
This capital increase represents a good investment opportunity, given the assets' prime locations which are rare in the current market, coupled with an attractive offering price. The trust will announce the maximum offering price by February 17, 2569, via the Stock Exchange of Thailand website. The maximum offering price will not exceed 6.70 baht per unit, which is considered appropriate, worthwhile, and offers investors a good return.
The trust will invest in assets valued at no more than 1,233.50 million baht, which is approximately 6.1% below the lowest valuation from two independent appraisers. This represents assets with a discount from their initial valuation. Furthermore, they offer a high yield due to their pricing structure and potential.
The projected return on investment for unit holders in the first year after the first capital increase is expected to be no less than 10.8% (based on financial reports and data under a hypothetical scenario for a 12-month period, estimated from June 1, 2026 to May 30, 2027, adjusting assumptions for the additional number of units issued and offered for sale to approximately 69 million units, long-term loans of approximately 835 million baht, and the offering price of the additional units to 6.70 baht per unit). This is considered exceptionally high compared to bond or deposit yields.
The trust will raise funds by issuing up to 69.0 million new trust units and borrowing up to 1,000 million baht in long-term loans. This capital increase offering will be open to both existing unit holders and the general public from February 23-27, 2569.
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