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Innovation becomes the new battleground for developers 


CREATING MORE value for residential projects by collaborating with innovative tech firms, providing services that match new-generation demand, and guaranteeing a high return for those investing in property for rental purposes, are ways to boost sales during a continuing period of intense competition, according to leading property firms.

   
For example, Sansiri has announced what it terms a Property Tech business model focused on innovation and the digital ecosystem, including plans to establish a venture-capital subsidiary to expand the developer’s investment in property-related business, and to improve its property business service.
The investment focus will be on business that is innovative and technology to support the company’s core business of developing residential projects for sale. 
New business identified under the strategy can either improve the process for conducting its core business, or be innovative business that will provide added value to Sansiri’s core operations, president Srettha Thavisin said.
“We believe this is a new era for the [residential] property sector, during a period when the market faces intense competition,” he added.
Ananda Development is also launching a new business model to collaborate with start-ups and innovative firms to provide new technology and more services to its customers.
“That is the challenge for doing business when the market faces high competition,” chief executive officer Chanond Ruangkritya said.
The developer has already joined hands with enterprises such as Hubba, Seedstars, Sasin and Builk, he said, adding that it is offering the first pilot project under this collaborative approach – the Haupcar car-sharing service – at its Ideo Q Chula-Sam Yan and Ideo Mobi Sukhumvit properties.
Ananda Development also plans to set up a venture-capital fund to invest in start-up and other innovative businesses, with a view to providing more services to customers in the future. 
This is the way to do business for the long term, Chanond said.
Origin Property, meanwhile, is offering its latest service, Your Digital Butler, as it focuses on innovation and after-sales service as strengths to satisfy the new generation of customers, CEO Peerapong Jaroon-Ek said.
“A butler is a service provider in British society. We are not the normal butler, but we are a butler with innovation, which applies digital technology in services. This is our new strength that will help us to grow with sustainability,” he explained.
Based on this concept, the company will provide service applications for consumers with a digital lifestyle, while also providing hotel-type services that offer efficiency and safety.
The residential developer will also join hands with its partners to provide privileges for condo residents, Peerapong said.
 
Health and wellness package
“We have decided to launch a new marketing strategy by offering a health and wellness programme and life insurance for our customers as an early marketing campaign to guarantee an annual return on investment of between 5 and 8 per cent a year for those who buy units in our residential projects for rent,” said Siriya Thepcharoen, deputy CEO, marketing and sales, at Nusasiri, another listed developer.
“These innovations are the way to boost sales now that the market is so highly competitive,” she added.
Nusasiri is one of a number of property firms to have launched a marketing campaign to boost sales by guaranteeing a specific return on investment for customers buying a property with a view to generating rental income.
The offer covers purchases for rental purposes at any of its condominium projects in Bangkok and Khao Yai, with a guaranteed annual rate of return of 5-8 per cent within the first six years – and a guaranteed offer to buy the condominium back from customers that sign up under the campaign. 
Nusasiri’s innovative offer of a health programme is made in collaboration with Panacee Medical Centre, while the developer also offers life-insurance coverage equal to the residential value, Siraya said.
The campaign runs until the end of this year.
 

Published : February 02, 2017

By : SOMLUCK SRIMALEE THE NATION