18 Jan 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: