SA revealed the business plan of 2021 to become the leader of integrated property business at the national level. It planned for new projects with the total value of over 6 billion baht and aimed for the revenue of 5-6 billion baht.
Siamese Asset Public Company Limited or SA, the integrated property developer, revealed the business plan of 2021 by which it will launch the 2 new projects with the total value of over 6 billion baht. It believes that the new wave of COVID-19 will affect the economy only for the short term. The business can still enjoy the positive factors, including the arrival of vaccine and low interest due to the baht appreciation which promotes the economic recovery. It sets the revenue target at 5,000 - 6,000 million baht. It diversifies the investment into the property for rent, room services, branded residence and NPA purchase for further development. In addition, SA studies the trust establishment to raise the fund for the business expansion.
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited or SA, the integrated property developer under the concept “Asset of life: Profit for all livings” said that the property business for residence in 2021 is expected to be highly competitive. Many companies have to adjust themselves and implement the preemptive strategy to strongly compete in the market and access to as many customers as possible, especially the real demand group which buy the property for their residence. Hence, the entrepreneurs have to emphasize on the project design to make the difference and ensure the residential worthiness.
The Company focuses on the project development in the high-potential zones and creates the difference of each project in various zones. Most projects of the Company are located in the center of the cities, central business districts (CBD) and new central business districts (New CBD). SA has the team specialized in the project design and applies innovation and facilities to make the difference of each project and enhance the residence quality in the good environment in order to respond to both residential and long-term investment purposes of customers.
It believes that the new wave of COVID-19 will affect the economy only for the short term. There will be the positive factors for the business, including the arrival of vaccine and low interest due to the baht appreciation which promotes the economic recovery in this year.
Chief Executive Officer of SA said that in 2021, SA aims to be one of the leading integrated property developers at the national level. It sets the revenue target at 5,000 - 6,000 million baht. At present, the backlog amounts to 7,300 million baht of which 2,000 million baht will be earned in this year. The rest amount will subsequently be earned in the next 3 years.
The Company is about to launch 2 new projects with the value of 6,000 million baht on the locations with real demand of residents near the MRT lines. The 2 projects are 1) The condominium near the BTS line with the value of 2,000 million baht is on the process of land purchase and project design and 2) Blossom Condo @ Fashion 3 project on Ramintra Road near the BTS pink line with the approximate value of 4,000 million baht: SA plans to develop the mixed-use real estate, comprising the hotel, residential units, serviced residence for rent, commercial space and convention hall. SA expects to launch the project in the 1st quarter of 2021.
The Company plans to purchase and develop NPA to add value to the project in the high-potential zones in the center of the cities, such as Sukhumvit zone. The economic recession is the opportunity to buy the property at the reasonable price. The Company plans to double the NPA proportion in the said zones.
Chief Executive Officer of SA said that the Company diversifies the investment risks through the mixed and flexible business plan to increase the recurring income from the property for rent and serviced residence. At present, SA has over 1,000 units of the property for rent and serviced residence. In the same time, it develops the branded residence projects by establishment of Siamese and Kew Green Management Company Thailand, under the cooperation with Kew Green Hotels, for the hotel business management. It applies the services of many globally-leading hotels such as Wyndham, Ramada, the Crowne Plaza by IHG, Cassia by Banyan Tree, to the management of residential condominiums. It gains wide attention from the investors due to its advantages different from other entrepreneurs. It aims to cooperate with those renowned hotels to expand the branded residence into the suburb areas or the high-potential cities outside Bangkok.
The Company diversifies the investment into other businesses, for example food & beverage business such as Kafeology Café, Rosemary Thai restaurant, etc. It expands the investment into the spa and wellness center business. Additionally, it is studying the establishment of real estate investment trust (REIT) to raise the fund for business expansion. REIT will generate the rental revenue from properties, such as hotel, serviced residence, rental office building, etc. , however, requires the yield assessment.
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