Property Perfect and Grand Asset have unveiled their business plan for 2021, focusing on a turnaround strategy by adjusting operational tactics, selling land, and investing a total of 20.2 billion baht to generate profits and reduce the debt-to-equity ratio to 1.2 times. They are also entering a new high-profit, high-demand business in rubber glove production and export. For the real estate sector this year, Perfect aims for sales of 17.3 billion baht, while Grand Asset targets 1.1 billion baht, expecting total group revenue to reach 21.37 billion baht, with additional income from joint ventures and rubber glove businesses amounting to 3.2 billion baht.

Mr. Sanit Atthayanasukul, CEO of Property Perfect Public Company Limited, revealed the operational direction for 2021, stating that the group plans to adjust its operational strategy to achieve sustainable growth and financial stability. This includes selling undeveloped land and lease rights, divesting hotel investments, and establishing a trust fund totaling 20.2 billion baht, which breaks down as follows:
- Undeveloped land, such as land in Chaeng Watthana, Ram Inthra, and Ramkhamhaeng valued at 10.2 billion baht.
- Land on Ratchadapisek Road valued at 1.5 billion baht.
- Hotel investments entering REIT, namely Royal Orchid Sheraton and Hyatt Regency Sukhumvit, valued at 8.5 billion baht.



This strategy aims to enhance profitability, reduce financial costs, and alleviate debt burdens, targeting a net debt-to-equity ratio of 1.2. The core business will focus on revenue growth, continuing joint venture projects with international partners, as the company has not launched any condominium projects for three consecutive years since 2019.

This year, the group is also expanding investments into a new business with high demand and profitability, namely the production and export of rubber gloves, which will help bolster long-term revenue. The estimated total revenue for this year is projected to be 21.37 billion baht, consisting of 13.07 billion baht from Property Perfect, 2.1 billion baht from Grand Asset, and 6.2 billion baht from land sales and investments. Additionally, there will be revenue from joint ventures in real estate of 4 billion baht and from the rubber glove business of 3 billion baht.

Mr. Wongkorn Prasithwiphat has set a sales target of 17.3 billion baht this year, with 12 billion baht from horizontal projects, 2 billion baht from joint ventures, 2.5 billion baht from domestic condominiums, and 800 million baht from condominiums in Japan.
In 2021, six new projects worth 9.93 billion baht will be launched, all of which are horizontal projects.
1. Lake Legend Bangna-Suvarnabhumi is a new joint venture project set to launch this year, in collaboration with Hongkong Land, located in Bangna-Suvarnabhumi, comprising 100 rai of lakeside homes valued at 5.1 billion baht with 128 units, launching in Q3 2021.
Also, the joint venture with Hongkong Land and Sumitomo Forestry, which continues to sell, is Lake Forest New Ratchapruek.
2. New Segment - Super Luxury in Sutthisarn, comprising 8 units, features 3-story single houses priced at 50-55 million baht and 5-story home offices priced at 70-80 million baht, with a project value of 70-80 million baht, launching in August 2021.
3. Modi Villa Bangna 2 with 96 units, project value of 420 million baht, launching in March 2021.
4. Perfect Park Bang Yai with 447 units, project value of 1.7 billion baht, launching in September 2021.
5. Perfect Park Phaholyothin-Jatujak with 140 units, project value of 780 million baht, launching in September 2021.
6. Perfect Place Sukhumvit 77 - Suvarnabhumi with 164 units, project value of 1.43 billion baht, launching in September 2021.

In these new projects, AIS will provide AIS 5G signal services.

Continuing joint ventures with Hongkong Land in the Bangna-Suvarnabhumi area are set to launch in Q3.

New Segment - Super Luxury in Sutthisarn, comprising 8 units, features 3-story single houses priced at 50-55 million baht and 5-story home offices priced at 70-80 million baht.

Mr. Witthawat Wipakool, CEO of Grand Asset Hotels and Property Public Company Limited, stated that this year, Grand Asset aims for sales of 1.1 billion baht from real estate, with 500 million baht from condominiums and 600 million baht from villas in Rayong province. The hotel business has been significantly impacted by the COVID-19 situation, resulting in hotel revenues last year falling short of expectations. This year, a recovery and rapid growth are anticipated in the second half, with estimated revenues of 1.5 billion baht. However, due to the ongoing uncertainty surrounding the virus outbreak, the operational plan for 2021 will primarily focus on the domestic tourism market, aiming for an average occupancy rate of 50% throughout the year.

The company is also venturing into a new business, recognizing the significant global demand for rubber gloves. They have partnered with Vatchachai Rubbermet Co., Ltd., a reputable manufacturer and exporter of high-quality rubber gloves, to establish Grand Global Gloves Co., Ltd. (GGG) to produce and sell synthetic rubber gloves (Nitrile) under the GGG brand in both domestic and international markets, particularly targeting countries with high rubber glove usage rates such as the United States, Europe, and Japan. They have invested in a factory on a 21-rai site in TFD 2 Industrial Estate, Chachoengsao, consisting of two buildings, with the first building under construction featuring 8 production lines and an annual production capacity of 21 million boxes or 2.1 billion pieces. It is expected to be completed in April and commence production in May, while the second building is scheduled for completion by the end of this year, with 8 machines and a total production capacity of 21 million boxes per year. Additionally, there are plans to expand the production capacity of natural rubber gloves alongside nitrile gloves to meet global market growth, with estimated revenue from the rubber glove business this year at 3 billion baht.

GGG Rubber Glove Factory in TFD 2 Industrial Estate, Chachoengsao, is currently constructing the first building with a production capacity of 21 million boxes per year or 2.1 billion pieces per year.