AWR, Thailand’s largest freehold real estate investment trust, combines the stable income of commercial real estate with the growth potential of global branded resorts in a Best-in-Class asset portfolio sponsored by AWC, with 3 values to grow returns, under an international-standard governance structure to deliver maximum value to unitholders.

• THE LARGEST FREEHOLD – with Value Appreciation Growth: Large-scale freehold ownership catering to both Thai and foreign investors, delivering continuous growth on prime, irreplaceable locations in Thailand, enabling unitholders to benefit from rising asset values.
• BEST-IN-CLASS – with Performance Growth: Five quality assets across the hospitality and commercial businesses, delivering stable income with growth, namely The Empire, Banyan Tree Koh Samui Hotel, Banyan Tree Krabi, Meliá Koh Samui and Pattaya Marriott Resort and Spa, under global brands with a combined membership base of more than 400 million worldwide.
• SUSTAINABLE – with Acquisition Growth: Accelerated and sustainable growth, expanding opportunities to grow the portfolio from AWC’s pipelines through a Right of First Refusal (ROFR) covering 9 initially selected assets, a further 48 projects in AWC’s current portfolio and future projects, supported by AWC’s experience and capabilities, top green building standards that enhance efficiency and margins, and a world-class corporate governance structure.

2 October 2026, Bangkok, Thailand - Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group unveils AWC’s Integrated Sustainable Growth Platform, connecting the development of Thailand’s business and tourism destinations with the generation of total returns including development gains, and sustainable growth for investors. Under this model, AWC serves as the “Development Engine”, managing projects from site selection partnership, design, development investment and construction to sourcing, until projects generate income. Meanwhile, AWC Lifestyle Property Real Estate Investment Trust or AWR, focuses on investing in quality assets that have completed development and are already generating income, with operations resilient across various economic cycles, to deliver stable cash flow to unitholders together with growth opportunities from long-term increases in asset value (Value Appreciation). Through this model, AWC can generate Total Returns from developed assets for its shareholders through business growth and efficient capital management. AWR will have an initial investment value of up to THB 51,388 million.

AWR has 3 key values to create sustainable long-term growth:

1. Performance Growth – Stable Growth: Growth from operating performance, with EBITDA from all 5 assets growing by 20% over the past 2 years.
2. Appreciation Growth – Continuous Growth: Increasing asset value from freehold ownership of 5 quality assets in prime locations that are scarce and irreplaceable.
3. Acquisition Growth – Accelerated Growth: Portfolio expansion from the initial 5 assets to 9 assets selected by AWC for AWR’s investment consideration, along with a further 48 projects in AWC’s current portfolio and future projects, from a Right of First Refusal (ROFR) and market opportunities.

Together, the 3 values will strengthen the portfolio and support AWR’s objective of generating regular cash flow and long-term growth.

AWR will be Thailand’s Largest Freehold Best-in-Class and Sustainable REIT, ready to scale its growth, catering to both Thai and foreign investors and broadening investment choice in Thailand’s capital market through an initial portfolio of 5 assets: The Empire, Banyan Tree Koh Samui Hotel, Banyan Tree Krabi, Meliá Koh Samui and Pattaya Marriott Resort and Spa, combining a stable commercial rental income base with income from the hotel business. Diversifying income between hospitality and commercial businesses helps the portfolio weather economic cycles and deliver stable performance.

Asset World Corp REIT Co., Ltd., as AWR’s REIT management company, submitted the registration statement and draft prospectus to the Securities and Exchange Commission, Thailand (SEC) on 29 September 2026. Investors can review these documents for details of the investment structure, financial forecasts, assumptions and risks.

Mrs. Wallapa Traisorat, Chief Executive Officer and President of Asset World Corp Public Company Limited (AWC), said:

“AWC established AWR to create AWC’s Integrated Sustainable Growth Platform for the real estate business. AWC is the Development Engine, developing and creating destinations with consideration for the location, communities, the real estate industry and tourism, to serve quality customer segments, realize the full potential value of each location and generate total returns including development gains. AWR, meanwhile, holds income-generating assets for stable, continuous, accelerated and sustainable growth. We believe this model will help strengthen Thailand’s real estate industry.

Thailand has a wealth of quality destinations. Under our strategy of building a stable and growing quality asset portfolio for AWR, we have selected 5 assets that serve both the business and tourism sectors, bringing together The Empire, 2 global branded resorts in the Ultra-Luxury Wellness Destination segment, namely Banyan Tree Koh Samui Hotel and Banyan Tree Krabi, and 2 resorts in the Family & Friends Luxury Lifestyle Destination segment, namely Meliá Koh Samui and Pattaya Marriott Resort and Spa, combining a diverse range of distinctive offerings. AWR opens a new opportunity for investors to participate in the value and growth of these destinations through freehold assets that we have continuously developed over many years.

These complementary roles allow AWC shareholders to benefit from value realized from assets with established performance, while AWR unitholders receive stable income and opportunities for growth in portfolio value, together with good corporate governance, and helping promote Thailand as a leading business and tourism destination, under our mission of ‘Building Better Future’.”

AWC’s development and management experience, together with its In-house Development Team, provides the foundation for AWR’s initial portfolio and future growth opportunities. AWC’s portfolio has grown to 62 projects, with gross asset value rising from THB 96,460 million at its listing on the Stock Exchange of Thailand in 2019 to THB 224,100 million as of 30 June 2026.

AWR is managed by Asset World Corp REIT Co., Ltd. as REIT Management Company, led by Dr. Paitoon Wongsasutthikul, Chief Executive Officer, formerly Chief Investment Officer of AWC, with extensive experience in real estate investment and portfolio management across hotels, commercial buildings and retail. He will oversee AWR’s investment strategy and portfolio performance. Trust units will be allocated at least 72% to investors, while AWC will hold up to 28%, aligning AWC’s interests with those of unitholders (Alignment of Interest). This is strengthened by a strong governance structure in line with international standards, with a board comprising 60% independent directors, and independent directors jointly appointed with the Trustee’s approval, to ensure value for unitholders.

“AWR’s portfolio will begin with 5 landmark freehold assets in prime locations, connecting 2 key sectors of the Thai economy: commercial business in Bangkok and tourism in 3 of the country’s leading destinations. Our strategy is to manage the portfolio with quality assets in prime locations that generate stable income, hold market-leading positions (Top Positioning) and have the potential to outperform the market. We will focus on enhancing value from each asset’s operations and pursue further investments with discipline, when they can deliver appropriate returns to unitholders. The management fee structure is designed to be linked to distributable income growth in returns per unit (DPU growth), reflecting the alignment of interests between the REIT management company and investors. With AWC’s real estate expertise and a disciplined approach to investment management, we aim to build AWR into a leading quality REIT that grows sustainably in size, value and returns, offering a long-term investment choice for domestic and international investors seeking to participate in the growth of Thailand’s business, capital market and tourism sectors,” said Dr. Paitoon.

The 5 Assets in AWR’s Proposed Initial Portfolio

The Empire is a 58-storey landmark in the heart of Sathorn and one of the largest integrated business and lifestyle destinations in Bangkok’s Central Business District (CBD). It has been developed to combine Grade A offices with dining, lifestyle and wellness experiences in a one destination. It has 158,021 square meters of net leasable area, more than 200 quality tenants from a wide range of industries and a tenant retention rate of approximately 99%, reflecting the strength of its long-term rental income base. Highlights include EA, the largest and highest dining and wellness destination in central Bangkok; EA Rooftop at The Empire, a large rooftop dining and lifestyle venue; EA Wellness Club, one of Bangkok’s leading wellness clubs; and The Empire Residence, Thailand’s first co-living space, connected as a free facility for tenants and a quality community of more than 25,000 people per day. The Empire also holds international building certifications including LEED Gold, WELL Core Platinum and Fitwel 2 Star, with an emphasis on air quality management (Best Air Quality) and a healthy environment for building users, alongside efficient energy management that helps reduce operating costs and supports higher margins over the long term.

Banyan Tree Koh Samui Hotel is an ultra-luxury wellness resort with 88 private pool villas, set on one of Koh Samui’s rarest and most valuable beachfront land plots. Its hillside location offers panoramic views of a tranquil bay, along with the largest private beach on Samui, delivering a retreat that combines privacy with world-class wellness facilities. The resort has received 2 MICHELIN Keys, reflecting international standards of service and asset quality. Over the past 13 years, it achieved RevPAR CAGR of 9.6% and EBITDA CAGR of 11%, demonstrating strong performance and continued growth potential.

Banyan Tree Krabi is a luxury resort on Tub Kaek Beach on the Andaman coast, with 72 sea-view suites and villas, each with a private pool. Set in a prime location surrounded by lush forest at the foot of Khao Ngon Nak and a national park, it offers premium relaxation and wellness experiences, hydrotherapy and international-quality dining. The resort has been recognized with 2 MICHELIN Keys, reflecting its service standards and its ability to attract high-quality travelers from around the world. Over the past 5 years, the resort achieved RevPAR CAGR of 12.9% and EBITDA CAGR of 21.7%, demonstrating strong performance and continuous growth.

Meliá Koh Samui is a 200-room luxury beachfront resort on Choeng Mon Beach, managed by Meliá, a leading global hotel brand. It diversifies the portfolio by reaching quality travelers and families from around the world. Highlights include Boat Suites built from traditional teakwood boats, a lagoon pool winding through the resort and facilities for every generation. Over the past 5 years, the resort delivered RevPAR CAGR of 23.5% and EBITDA CAGR of 22.7%, reflecting strong operating performance.

Pattaya Marriott Resort and Spa is a 287-room beachfront resort on Jomtien Beach, repositioned to serve families and groups of friends under the Marriott brand. Highlights include Waterplay and water activities on its private beach, and dining at Goji Kitchen + Bar, a TripAdvisor award-winning restaurant. In addition, the Marriott Bonvoy customer base of more than 300 million members worldwide supports demand from quality travelers and continuous revenue generation. RevPAR grew 150% after just 1 year of operation, reflecting strong market demand.

All of this reflects the strength of the real estate strategy through which AWC is committed to contributing to the creation of quality destinations for the country, industry and a strong investment ecosystem. Its comprehensive sustainable growth platform benefits the real estate industry by connecting the capital market with world-class quality assets. AWC believes that AWR will serve as an important vehicle for value creation, unlocking long-term growth opportunities and supporting higher industry standards. It will also help position Thai REITs among the leading investment choices for both domestic and foreign investors over the long term.

Investors can review the registration statement and draft prospectus, including the proposed investment structure, financial forecasts, assumptions and risks, at https://market.sec.or.th/public/ipos/IPOSEQ01.aspx?TransID=817258&lang=th

Further information is available at https://www.assetworldcorpreit.com

#AWC #AWR #BuildingBetterFuture

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