Chivathai has unveiled its business plan for 2022, aiming for revenue of 3 billion baht from the "Chivathai Pinklao and Chivathai Hallmark Ladprao-Chokchai 4 (Phase 2)". The company is also preparing to purchase land for the development of 6 new projects worth 5 billion baht. In 2022, it will strengthen its business by entering the second-hand home market under the name "CHEWA RENUE", targeting an additional 400 million baht in revenue over the next three years, as a new avenue to build on its core business. The goal is to become the number one leader in quality and after-sales service.

            Mr. Boon Chunkiat, Managing Director of Chivathai Public Company Limited, or CHEWA, stated that the overall real estate business this year still sees continuous demand for housing. However, the high household debt levels are affecting the purchasing power and borrowing capacity of most customers. Therefore, he suggests that the government address the ongoing rise in household debt to mitigate future impacts on purchasing power.

In 2022, the company will continue its business plan by purchasing 6 plots of land for the development of 6 new projects worth over 5 billion baht. This includes 2 Hallmark projects valued at 2 billion baht, 1 Hallmark Lite project worth 800 million baht, 2 Chewarom projects valued at 1.5 billion baht, and 1 Chewahome project worth 700 million baht. All 6 projects are expected to begin development in 2023.

 

 

 

This year, the company will launch the Chivathai Hallmark Ladprao-Chokchai 4 (Phase 2), which includes 380 units valued at 994 million baht. It is a low-rise condominium in a loft style located in the Ladprao area, close to the Yellow Line and the future Gray Line subway, which is currently under construction and expected to start sales this year.

Another project is Chivathai Pinklao, consisting of 593 units valued at 1.587 billion baht. It is a 13-story condominium located on Arun Amarin Road, near Rama 8 Bridge, providing convenient access to the Bang Yi Khan BTS station. It is expected to be ready for transfer and revenue recognition in the second to third quarter of 2022.

This year, the company anticipates revenue of 2.8 to 3 billion baht from these two projects and existing projects with a backlog of approximately 1.8 billion baht, which will be gradually recognized as revenue.

 

Additionally, the company is also entering the second-hand home market, which is becoming increasingly popular due to its selling points of "location" and "size" that meet the new normal lifestyle. The team is actively pursuing the second-hand housing market under the name "CHEWA RENUE" by bidding for properties from the Department of Legal Execution, renovating them to make them livable, and selling them to interested buyers. The company expects to attract interest from the target group, aiming for an additional 400 million baht in revenue from this channel over the next three years, as a way to further build on its core business.