Thailand’s Sansiri charts course for future

/ EdgeProp
May 8, 2018 7:00 AM SGT
Artist’s impression of the view towards the Chao Phraya River from oka Haus’ roof garden (Pictures: Sansiri)
Singapore is a key market for Thai property developer Sansiri Public Co, says CEO Apichart Chutrakul. The company is Thailand’s market leader in the foreign buyer segment. This year, it aims to increase sales to foreign internationals by 40% to THB13 billion ($550 million), with Singaporeans accounting for THB1.3 billion, or 10% of the international sales.
Chinese nationals are expected to make up the biggest source of this revenue stream at THB5.22 billion of international sales by value, followed by Hong Kongers at THB4.35 billion. Buyers from Taiwan, another key market for Sansiri, are expected to contribute THB630 million of revenue. The company also plans to expand into South Korea and Japan this year.
Apichart: We believe things will change, and planning for the future will ensure our survival
To tempt both foreign and local buyers, Sansiri will offer an abundance of choices by launching 31 projects worth nearly US$2 billion ($2.6 billion) this year. This is a 65% increase in total gross development value compared with the 14 projects with US$1.2 billion in GDV launched in 2017. The projects will span the whole gamut of property types, from condominiums to townhouses and detached houses, with the majority (77%) in Bangkok and the remainder in other areas, including Chiang Mai, Pattaya and Phuket.
Established in 1984, Sansiri has been listed on the Stock Exchange of Thailand since 1996. According to Sansiri, it had a portfolio of more than 320 projects as at last September. It has set itself apart from other developers with subsidiary Plus Properties, which enables it to provide a more complete suite of services in addition to property development. They include consultancy and brokerage services, project sales, property management and concierge service.
Strategy of partnerships
Sansiri has charted a strategy of long term partnerships with leading companies and government agencies to entrench its position as Thailand’s leading and only full-service developer. Last...