Frasers Property Home (Thailand) reveals business plan for 2023 including its first condominium project and 11 projects totalling 17,500 million baht

BANGKOK, 18 JANUARY 2023

Frasers Property Home (Thailand) expects a steady recovery in the local real estate market for 2023 and is ready to move ahead launching 11 projects worth over 17,500 million baht. Leveraging the strategy “Build upon old foundations, growth on new grounds”, the company will oversee the development of new projects targeting different segments throughout Bangkok, catering to the increasing demand for single housing and targeting homebuyers with a steady income flow in provinces that see urban growth and jobs. This will be supplemented by the low-rise condominium development project in the city centre, along with an additional new luxury single housing brand. Revenue of Frasers Property Home (Thailand) is estimated at 13,000 million baht by the end of the year, a 14% jump from 2022.

Mr. Saenphin Sukhee, Chief Executive Officer of Frasers Property Home (Thailand), Public Company Limited assesses the overall economy for 2023 to be steadily recovering, with increased investment from the private sector as a result of the government’s economic policies, the upcoming general elections, and the opening of the country that is enabling the return of tourists, expected to be over 20 million in 2023. The tourism sector will be an important force in Thai economic growth, projected at 3.0 – 3.5%, along with the expansion of infrastructure across the country, especially as the key urban areas gear up for the tourist sector. Foreign investors will also be returning, which will boost the Thai real estate sector.

“As for the company’s 2023 business plan, the targeted revenue is 13,000 million baht, a 14% increase from 2022. 11 new projects are to be launched, worth a total of 17,500 million baht, comprising seven single housing projects, two townhome projects, one twin housing project, and one condominium project. The company is aiming for a major transformation according to the plan, to emerge as a strong player in every segment, under the vision Think New, Make New, Always New to generate a constant flow of revenue growth via two key factors that propel the organisation forward. One is to Build upon old foundations, developing projects that offer quality and innovative products to targeted customers for elevating their quality of living in a sustainable manner. The other is to Growth on new grounds by creating new opportunities to maintain business growth and comprehensively cater to home buyers’ every need and creating a new living experience” Mr. Saenphin mentions.

The 4 strategies to “Build upon old foundations, growth on new grounds” comprise of:

1. Plan to launch housing projects at every price point. The company aims to increase the ratio of single housing development in every segment, especially luxury single housing projects, targeting customers with a steady income flow in provinces that see urban growth and jobs through offering quality and innovative products, as well as placing importance on utilization that reflects individuality, adjusting the functionality to suit customer behavior while maintaining leadership in the townhome market with the development of quality projects on high potential real estate that provides customer-pleasing functions. Moreover, twin housing projects with designs and functions that are comparable to single houses will be developed at affordable prices in convenient areas within the urban vicinity.
2. Launch of Big Campaign in order to stimulate sales throughout 2023 with marketing campaigns and special promotions throughout the year to influence the consumers’ decision to buy as well as generate brand awareness.
3. Target the low-rise condominiums, as this segment is rebounding after the Covid-19 situation, especially condominiums in the 3-5 million baht range which has the highest increased demand ratio in 2022, to which the market supply cannot yet meet. The company plans to develop low-rise condominium projects in urban locations near metro train links under a new brand that will be launched soon.
4. Increase the portfolio of single luxury / super luxury housing, which will increase the ratio of luxury housing developments to the 60-120 million baht range under 3 key brands, which are The Royal Residence (a new brand) Alpina, and The GRAND, targeting new-gen families that require utility space for various needs that can be adjusted according to their individual lifestyles.