"Property Perfect" and "Grand Asset" have revealed their business plan for 2022, aiming to strengthen their financial position. They anticipate a recovery in both the real estate and hotel sectors this year, targeting total revenue of 28.3 billion baht, with plans to launch 15 new projects worth 26.21 billion baht. They also plan to refresh their single-house brand to adapt to changing consumer trends. Grand Asset expects a significant revenue growth of 5.5 billion baht from joint venture condominiums ready for transfer.

           Mr. Sanit Attayanasukul, CEO of Property Perfect Public Company Limited, believes that the overall economic recovery in 2022 will depend on a clear management system to handle the COVID-19 pandemic, preparing for the reopening of the country and allowing citizens to coexist with the virus more effectively. At the same time, it is crucial to expedite the recovery of the tourism sector and implement financial measures, with the government expected to allocate around 1 trillion baht to address systemic economic issues rather than relying solely on fiscal measures through various projects, such as the 'Half-Half' program phase 4. The monetary policy should focus on injecting liquidity into small and medium-sized enterprises at low interest rates of 3-4% to stimulate job creation, similar to successful strategies in Japan and Europe.

            In the real estate sector, this year, low-rise homes are expected to grow significantly in response to increased demand following the pandemic, particularly luxury homes targeting high-end customers. Meanwhile, the condominium market remains sluggish due to the lack of signals indicating a return of foreign investors, leading operators to focus primarily on domestic customers. Before the pandemic, foreign buyers accounted for 40% of the condominium market, with Chinese buyers making up 50%, followed by Hong Kong and Singapore at 25%, and other countries at 25%.

 

       For the business direction in 2022, the group continues to strengthen its financial position with a target total revenue of 28.3 billion baht, comprising 12 billion baht from Property Perfect (PF), 2.8 billion baht from Grand Asset (GRAND), 8.5 billion baht from land sales and lease rights, hotel investment sales, and trust establishment, and 5 billion baht from joint ventures in real estate.

            The group aims to strengthen its financial structure, targeting a further reduction in debt levels after successfully lowering the net debt-to-equity ratio from 2.1 in 2020 to 1.7 in 2021, with a goal of reaching 1.2 this year.

            This year's revenue is expected to grow compared to last year, with a key strategy being the growth of revenue from joint ventures in real estate with three international partners: Hongkong Land, Sumitomo Forestry, and Sekisui Chemical, which are expected to generate a total revenue of 5 billion baht this year. Additionally, the joint venture in rubber glove production is projected to generate another 2.152 billion baht, along with land sales and trust establishment, strengthening the group's financial position.

       Mr. Wongkarun Prasithwiphat, Managing Director of Property Perfect Public Company Limited, stated that for this year's business plan, the group aims to achieve sales of 18 billion baht, with 10.5 billion baht from low-rise projects, 2.5 billion baht from condominiums both domestically and in Japan, and 5 billion baht from joint ventures.

            As for Property Perfect, at the end of last year, the company had a presale backlog of 2.126 billion baht. This year, they plan to launch 15 new projects worth a total of 26.21 billion baht, including single houses valued at 12.845 billion baht, twin houses and townhomes at 1.93 billion baht, and joint venture projects at 11.435 billion baht.

            Notable new projects this year include "Lake Legend Bangna-Suvarnabhumi," a joint venture with Hongkong Land valued at 6.275 billion baht, featuring homes on a hill by the lake, along with the launch of a new single-house brand targeting a new segment in the upper market in locations such as Phaholyothin, Sukhumvit 77-Suvarnabhumi, and Rattanathibet. The company has also refreshed its single-house brand by updating the logo and developing projects to align with changing consumer behaviors through the concept of "PERFECT" in seven aspects.

 

 

 

 

         Mr. Witthawat Wipakul, CEO of Grand Asset Hotels and Property Public Company Limited, stated that this year, Grand Asset is expected to see a clear recovery and growth in both the hotel business, which is anticipated to rebound from the reopening measures.

            This year's revenue is projected to grow significantly, targeting 5.5 billion baht, with 1 billion baht from real estate, 1.8 billion baht from hotels, and 2.7 billion baht from joint ventures. The main revenue will come from "Hyde Heritage Thonglor," a joint venture project that is completed and ready for ownership transfer in the second quarter of this year, which already has a backlog of 2.017 billion baht.

            For the real estate sales target, it is set at 2 billion baht, including 400 million baht from condominiums, 600 million baht from villas in Rayong, and another 1 billion baht from joint ventures. The hotel business aims for revenue of 1.8 billion baht, with confidence that the tourism situation will begin to recover in the second half of the year.

 

            It is expected that the hotels in the group will have an average occupancy rate of over 50% for the entire year, with the domestic tourism market remaining highly significant, while the number of foreign tourists is expected to increase due to reopening measures, as many countries, including Thailand, are beginning to relax travel restrictions, such as the Test & Go program that allows travelers to enter the country without quarantine.

            As for the rubber glove production business, which started operations in 2021 with the installation of machines 1 and 2, revenue has been recorded since last year. This year, it is expected to generate 2.152 billion baht. The company has also received investment promotion from the BOI and is gradually installing additional production lines to ensure revenue recognition from all 16 production lines within this year.