Lalin Property has observed positive signs as Thailand begins to ease lockdown measures, distribute vaccines in strategic areas, and revive exports and tourism, injecting money back into the economy. It is expected that in the fourth quarter, purchasing power will increase, leading to fierce competition in the real estate sector with final promotions, creating a golden opportunity for consumers.

Mr. Churachart Chakrakul, Managing Director of Lalin Property Public Company Limited (LALIN), a developer of quality real estate projects under the concept of ‘Homes Built on Good Intentions’, revealed that the government's relaxation of lockdown measures, including the reduction of curfew hours and the reopening of 10 businesses under strict health measures, will positively impact the overall economy in the final quarter of this year. Additionally, efforts are being made to encourage tourists to return fully, including plans for pilot areas and reducing quarantine times for travelers entering Thailand who have been fully vaccinated for at least 14 days, allowing them to quarantine for only 7 days. The extension of the Special Tourist Visa (STV) for another year is also part of the preparations for reopening the country to drive economic growth after the fourth wave of COVID-19 in Thailand. This has led to a noticeable improvement in economic confidence among both the economy and the public. If the government proceeds with an additional 1 trillion baht stimulus to support and drive economic activities, it will lead to an overall economic recovery, helping businesses regain their potential as seen in various countries in Europe and Asia that have already implemented similar measures and returned to normal life.

The overall economy seems to be moving in a positive direction, and Lalin Property continues to implement a cautious business plan to maintain strong business stability. “The company evaluates the situation to adjust its business strategies, including organizational lean management and improving work processes for greater efficiency and effectiveness by implementing IT systems across the organization,” which has resulted in increased agility in operations to align with current times. The company is also focused on launching new projects at the right time to meet actual purchasing power in the market. Financial liquidity management is also a priority for the company, which has prepared backup plans with a total credit line of 2.6 billion baht from banks, an outstanding bond limit of 2 billion baht, and sufficient cash reserves for current business operations. The company aims to develop residential projects that fulfill consumer lifestyles and has integrated technology into all aspects of the organization, including digital marketing to reach customers directly, as consumers today demand faster access to information.

Regarding the overall real estate business in Thailand in the fourth quarter of 2021, Mr. Churachart assessed the situation, stating, “With the decreasing number of COVID-19 cases and the government’s accelerated vaccine distribution plan in strategic economic areas, the number of vaccinations has increased significantly, sending positive signals for overall economic confidence and the Thai real estate business.” If Thailand can continue to control the number of infections, economic confidence will recover even faster. As the country’s main mechanisms resume operations, purchasing power will also begin to return. It is believed that the final quarter of the year will be a highly rewarding time for consumers, as operators are likely to offer special promotions, interest rates remain low, and government measures to reduce transfer and mortgage fees for those purchasing homes or condominiums priced below 3 million baht, which will end this year, will also stimulate consumer purchasing decisions.

In the first half of 2021, Lalin Property reported revenue of 3.2 billion baht, accounting for 53% of the annual revenue target of 6 billion baht, and is confident it will meet its goals while maintaining a sales target of 7 billion baht. This is driven by a marketing strategy focused on real demand customers, utilizing data from customer insights to shape marketing strategies. In the fourth quarter, the company plans to launch two new projects in the Nonthaburi and Suvarnabhumi areas, Mr. Churachart concluded.

For more information about Lalin Property, please contact the Call Center at 1778 or visit www.lalinproperty.comhttp://www.lalinproperty.com.