SA spread out a plan for the second half of the year, launched 4 new projects emphasizing on low-rise from opening the country, expanded the customer group to obtain more foreign customers, and targeted the revenue of the year 2022 to reach 4,2500-4,900 million baht.
Siamese Asset Plc. (SA) opened a plan for the second half of the year, preparing to open 4 new projects, which were Siamese Home@Phaholyothin-Rangsit, Siamese KIN Phase 2, Siamese Talingchan, and Siamese Luxury Home@Ratchapruek, emphasizing on low-rise. The big boss “Kajonsit Singsansern” revealed the strategy to penetrate more foreign customers after the government had fully opened the country, raising the outstanding location like Rama 9 and Sukhumvit with the strong believe that the recovered demand could bustle the real estate business, pinning this year’s revenue to 4,500-4,900 million baht.
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited or SA, a full-service real estate developer under the concept ‘Asset of Life that Generate Profit for Every Lifestyle’, revealed that for the business strategy in the second half of the year, the Company still emphasizes on the revenue from real estate group mainly, such as ready-for-sale apartment in Sukhumvit, focusing on foreign customers that need the location next to BTS with Branded Residences service and investors that need the return from renting out with potential tenant. There is also the return of sales from completed projects that are ready to be transferred in the amount of 200-300 milion baht per month with the revenue recognition in low-rise real estate group from Monsane’ Exclusive Villa Ratchapruek-Pinklao. Moreover, there would be more regular revenues coming from other businesses as well. For example: Hotel, restaurant, Cloud Kitchen, and asset management business.
In the beginning of the year 2022, the Company had launched 2 new projects, which are Landmark@Kasetsart TSH Station and Monsane’ Exclusive Villa Ratchapruek-Pinklao. Towards the end of the year, the Company has planned to launch another 4 projects, which are Siamese Home@Phaholyothin-Rangsit, Siamese KIN Phase 2, Siamese Talingchan, and Siamese Luxury Home@Ratchapruek.
“The declining number of infected persons with COVID-19 in Thailand causes the economic overview to have better direction. Also, the relief measure and opening the country of the government on 1 May results in normal leisure travel or business travel. These are the additional positive factors for the Company because the condominiums are in the interest of foreign tourists due to having the outstanding location. For example: Landmark@MRTA Station is popular among Chinese tourists because it is a New Chinatown and is located not far from the Chinese Embassy Bangkok. There is also the ready-for-sale apartment in Sukhumvit that is popular among European tourists. Hence, we believe that the return of demand will improve the industry trend and become another reason that helps to support the Company’s performance to grow strongly”.
The Chief Executive Officer mentioned that the Company has maintained the growth target of revenue in the year 2022 to be about 4,500-4,900 million baht by separating into the revenue from completed project that is ready to be transferred about 2,000-2,500 million baht; the low-rise projects that can be transferred at the end of this year in amount of 1,000 million baht in approximate; the projects that will be completed in Quarter 4, which is Rama 9 Building C project in the amount of 1,000 million baht; and from other related businesses.
For the progress of asset management business, SA has established the subsidiary namely “Siamese Asset and Wealth Management” or SAM as well as bringing the professional executives experiencing in asset management business for more than 30 years to join the work and planning to purchase NPA-NPL for management. Currently, it is in the process of requesting for asset management company license, which is expected to receive an approval faster than the forecast soon.