Mr. Uthen Lohachitpitak, Chief Executive Officer of Pruksa Holding Public Company Limited stated that the overall market for horizontal real estate this year is highly competitive due to changing consumer behavior in purchasing homes. This necessitates the company to develop products that align more closely with customer demands. Meanwhile, the condominium segment is expected to remain sluggish this year, gradually recovering over the next decade due to the demand for urban housing close to workplaces. As for foreign customers, a slight return is anticipated, but it may not boom as it did in the past.

In the first quarter of this year, the company's sales figures were lower than expected, partly due to delays in launching new projects and a labor shortage affecting construction, which resulted in slower home deliveries to customers. The total sales for real estate projects amounted to 5.344 billion baht, with total revenue of 5.679 billion baht and a net profit of 639 million baht, reflecting a 10% growth compared to the same period last year.

Pruksa Holding's net profit (including real estate and healthcare businesses) stood at 552 million baht. The company still aims for revenue of 33 billion baht this year, with a backlog of 20.2 billion baht, which includes revenue recognition of 18.7 billion baht for 2022. Additionally, there will be seven completed high-rise projects ready for gradual transfer this year, totaling 15.2 billion baht.

The increase in profit in the first quarter is attributed to ongoing efficiency improvements through cost-saving measures in various areas, utilizing automation, construction engineering systems that reduce cement usage, and optimizing transportation routes to lower energy costs. This is complemented by blockchain technology, electronic procurement systems, and the development of a streamlined system, resulting in cost savings and operational expenses exceeding 460 million baht, or 1.4% of revenue.

In the second quarter of this year, the company plans to launch nine new projects worth a total of 5.9 billion baht, comprising eight townhouse projects valued at 5.2 billion baht and one single-house project worth 700 million baht.

 

The design of the projects will be based on the concept of Tomorrow. Reimagined., which has evolved into “Pruksa Living Solutions,” reinforcing the operational approach to enhance housing quality in response to three main living trends: health trends, changing lifestyle trends, and sustainability trends.

 

 

This year, Pruksa's strategy focuses on integrating cooperation between the real estate and healthcare sectors, with plans to develop mixed-use properties that incorporate health services within the same project. The company is also seeking new partnerships to enhance services that best meet consumer needs. In terms of investment, Pruksa has diversified its investment portfolio beyond Thailand, integrating cooperation between real estate and hospital businesses. The first health center, with 50 beds, is set to open in the Pruksa community in front of the Pruksa Avenue Bangna-Ring Road project this August.

At the same time, new business partnerships have been established, with Vimut Hospital collaborating with JAS ASSET to form Senera Vimut Health Service, which will develop the SENERA Senior Wellness project on Khubon Road. This medical center will span 5,713 square meters over four floors, with 78 beds, and is scheduled to open in December. Additionally, investments have been made in Thailand, Australia, Malaysia, and Singapore, focusing on ESG Innovation, digital security systems, and health tech proptech to support the growing trends in housing and healthcare in the future.