Bangkok, December 17, 2018 - "Singha Estate" reaffirms its position as a Premier Lifestyle Developer, revealing that the commercial business in Bangkok shows promising growth trends due to the government's mass transit development plans. The company announces its intention to develop more than 170,000 sq.m. of commercial projects with an investment budget of over 15 billion baht, emphasizing sustainable growth strategies by focusing on high-potential locations with significant growth opportunities, offering new lifestyle experiences, and creating sustainable value for society and the environment.

 

 

          Mr. Narit Chayaklin, CEO of Singha Estate Public Company Limited or “S” discussed the direction of Singha Estate's commercial business, stating that the company has a five-year business plan targeting the premium market. Following the successful launch of the Singha Complex, The Luxury Mixed-Use project, which was officially unveiled last week, the mixed-use business trend in Bangkok continues to grow. Key factors include the government's expansion of mass transit systems, leading to the development of several areas into new business, commercial, and residential districts. A significant challenge is creating a city that ensures residents have a good quality of life sustainably. Current project developments will focus on environmental friendliness and the integration of smart technology, while also considering the blending of traditional community lifestyles, which will make Bangkok a charming city with a unique identity that can attract everyone and enable sustainable growth in the future.

 

 

          “For Singha Estate, the commercial business is crucial for creating long-term growth for Singha Estate as it can generate stable recurring income. The company will expand its business through new project developments and investments (M&A) when assets reach suitable growth levels. We can sell these assets into real estate investment trusts (REITs) to raise funds for future business opportunities, enabling the company to achieve continuous growth. Additionally, this business will contribute to improving the quality of life and creating new lifestyles for everyone, including sustainable development that allows society and surrounding communities to participate in environmental conservation as well as the preservation of culture and community lifestyles,” Mr. Narit stated.

 

 

          The company adopts the concept of being a Premier Lifestyle Developer in its commercial business development to offer new lifestyle experiences in every dimension. In addition to developing projects in high-potential locations, careful design and space allocation, and sourcing quality retailers and comprehensive facilities, the company aims to stand out and differentiate itself in three dimensions. The first dimension is caring for the environment and surrounding communities through sustainable development, such as preserving large trees in the original area (Urban Sanctuary) of the Singha Complex project, constructing and managing energy-efficient buildings according to international standards (Energy Saving), and providing knowledge for effective waste management through the Sea You Tomorrow project, which will significantly reduce the problem of marine debris from urban waste.

 

          The second dimension is providing excellent service and experiences for customers through a perfect blend of Human Touch and SMART Technology. The company invests in appropriate Smart Technology that is convenient for real-life use, can be maintained and developed continuously. When combined with a dedicated service team that cares for customers warmly, it will leave customers impressed and comfortable with the services and various facilities. For the Singha Complex project, an application called S Life has been developed for users of the Singha Complex, creating experiences that meet the lifestyle needs of the new generation, such as access control for elevators, payment in the food court foodPLACE using QR code, and providing Super Wifi with speeds up to 1GB/sec.

 

 

          The third dimension is creating a happy Sharing Community that shares, supports, and respects the local culture of the existing community. This encourages the community to participate in the company's sustainability projects. The integration of new lifestyles with traditional ways of life makes the projects charming and unique, attracting people from various backgrounds. For example, the amphitheater in the Singha Complex project is designed for the surrounding community to use as a workspace or to engage in various artistic activities together.

 

          “Currently, Singha Estate has plans to develop a new mixed-use project codenamed Oasis on Vibhavadi-Rangsit Road, valued at 3.695 billion baht. The project will feature a 36-story office building with approximately 53,000 square meters of rental space (NLA), divided into office space and some retail areas. The project is expected to take about three years to develop starting from early 2019, including the Crossroad project in the Maldives. Overall, the company has allocated an investment budget of approximately 15 billion baht for the commercial business over the next five years (2019-2023). Currently, we have about 130,000 sq.m. of rental space from Sun Towers and Singha Complex, aiming to increase to a total of 300,000 sq.m. in the next five years, adding another 170,000 sq.m. This is considered one of the core businesses that Singha Estate prioritizes,” Mr. Narit concluded.

Thank you for the information from www.singhaestate.co.th