Uthai Uthaisangsuk, chief operating officer of Sansiri Plc, presents the company's 2018 business direction.
Uthai Uthaisangsuk, chief operating officer of Sansiri Plc, presents the company's 2018 business direction.

Sansiri budgets Bt15 bn for 2018 investments

Real Estate January 30, 2018 01:00

By SOMLUCK SRIMALEE
THE NATION

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LISTED PROPERTY firm Sansiri Plc has set aside an investment budget of Bt15 billion to buy land for residential projects this year and in 2019, with plans to launch 31 new properties worth Bt63 billion in 2018.



Of the new projects, 12 will be condominiums worth Bt33.5 billion, eight will be single-detached houses worth Bt20.1 billion, while 11 others will be townhouse projects worth Bt9.6 billion. 

The company’s investment budget will come from its initial cashflow and the issuance of five-year debenture worth Bt4 billion early this year, with interest rate of 3.35 per cent.

It is part of the company’s efforts to drive its presales to Bt45 billion this year or up 16 per cent from the year 2017. Last year, the developer recorded total presales of Bt38.6 billion, up 24 per cent from the prrevious year, the company’s chief operation officer Uthai Uthaisangsuk said at press conference yesterday..

In the first nine months of 2017, Sansiri reported a total revenue of Bt23.12 billion and a net profit Bt2.04 billion. 

He added that for the current year, the company foresees three significant trends – domestic and global economic recovery; changes in consumer behaviour and a new way of living; and technology disruption that represents new opportunities for many businesses.

The company believes that the adaptive ability along with this technology disruption will be winning weapon in becoming the trendsetter of each industry. All these factors contribute to a positive outlook of the property market expansion and spur consumers’ purchasing power. This year, the company will, therefore, focus on offering a wide range of property projects with various impressive services that best address different needs of all customer groups and expanding customer base in Bangkok, provinces and foreign countries.Another important direction for this year is to continue and strengthen partnership with existing and new local and international companies, said Uthai.

Given the market trends, the company targets presales from overseas customers to reach Bt13 billion, a rise of 40 per cent from its overseas presales of Bt9.3 billion last year. 

It will focus on Asia markets this year, including Hong Kong, South Korea, Taiwan, and Japan, he said.

Meanwhile, the company plans to launch between four to six projects worth between Bt12 billion and Bt19 billion in partnerships with BTS Group Holdings Plc and Tokyu Group.

The company also plans to launch the first Standard Residence and Monocle Residence in Thailand this year, following its investment in The Standard and Monocle last year, Uthai said.

Meanwhile, Sansiri will launch JustCoco-working space in four locations, with the first two at AIA Sathorn in May and another at All Seasons Place in August.

It will offer Sansiri’s customers the privilege of using the services.

Hostmaker will also start its property management services for Sansiri customers which will strengthen Sansiri’s competitive advantage in overseas markets, he said.