Property Perfect has revealed its joint venture project plan for the next three years, aiming to generate a total revenue of 13 billion baht. Starting from 2022, the company expects to earn 5 billion baht from joint ventures, a fivefold increase compared to 2021, while continuing to launch new projects to enhance collaboration and ensure long-term growth.

Mr. Wongsakorn Prasithwiphat, Managing Director of Property Perfect Public Company Limited, disclosed the overall business outlook for the group in 2022, stating that total revenue is expected to improve compared to 2021, with a recovery close to pre-COVID-19 levels. The key strategy is to increase revenue from joint ventures with three international partners: Hongkong Land, Sumitomo Forestry, and Sekisui Chemical. The company aims to achieve a total revenue of 13 billion baht from joint ventures over the next three years (2022-2024), with clear growth and profit increases. For 2022, the target is set at 5 billion baht, while 2023 and 2024 are expected to contribute an additional 4 billion baht each year.

“In 2022, the company aims for revenue from joint ventures to reach 5 billion baht, compared to this year’s revenue of 1 billion baht, marking a fivefold increase. This will come from the joint venture with ‘Hongkong Land’ amounting to 1.4 billion baht, with the official launch of the new project ‘Lake Legend Bangna-Suvarnabhumi’ in March, featuring single-family homes priced between 30-120 million baht. Additionally, the ongoing expansion of the ‘Lake Legend Chaeng Watthana’ project will introduce more lakeside mansions in phase 2, starting at 60 million baht. There will also be significant revenue from the joint venture with ‘Sumitomo Forestry’, which includes the ‘Hyde Heritage Thonglor’ condominium project worth 2.5 billion baht, scheduled for completion and transfer of ownership in Q2/2022. Currently, there is a backlog of 2 billion baht, or 40% of total joint venture revenue, and the ‘Lake Forest’ project, featuring single-family homes priced between 3.5-7 million baht, is expected to generate an additional 500 million baht, totaling 3 billion baht. Furthermore, the company has a joint venture with ‘Sekisui Chemical’, offering innovative homes using Japanese technology, priced between 20-60 million baht across five locations in the Perfect Masterpiece project, which will contribute another 600 million baht in revenue.”

Regarding the growth strategy for joint venture projects, the company leverages partnerships to strengthen its capabilities, particularly in developing premium projects. In the past, it has successfully created distinctive high-end single-family homes that stand out in the residential market. Collaborating with these three international partners enhances potential and clearly supports long-term business growth, Mr. Wongsakorn stated.