SENA has announced its financial results for the first half of 2022, showcasing a positive performance with total revenue reaching 2.568 billion baht and a net profit of 616 million baht. This growth is attributed to increased income from rental and service businesses, as well as the ongoing transfer of ownership for housing and condominium projects. The company has a backlog of 8.702 billion baht, which will contribute to revenue in 2022 and the following year. Additionally, SENA plans to launch 10 new projects valued at a total of 5.866 billion baht and is preparing to issue bonds for the first time to the general public, with bookings expected to open in September.

Ms. Athika Boonrodchao, Assistant Managing Director of Fund Allocation and Investment at Sena Development Public Company Limited discussed the overall performance for the first half of 2022, stating that the company and its subsidiaries generated total revenue of 2.568 billion baht. This includes 2.270 billion baht from the transfer of ownership of housing and condominium projects, along with income from other subsidiaries such as rental and service businesses and solar energy projects, resulting in a net profit of 616 million baht, which accounts for 31.6% of total revenue. During this period, the real estate business recognized income from six condominium projects and one horizontal project.

Among the condominium projects are: 1.) Niche Mono Sukhumvit - Bearing 2.) Niche Pride Tao Pun - Interchange 3.) Niche Mono Charoen Nakhon 4.) Niche Mono Mega Space Bangna 5.) Niche Mono Itsaraphap 6.) Flexi Sathorn - Charoen Nakhon (Phase 1) and the horizontal project includes Sena Vela Theparak - Bang Bo.

 

For the horizontal projects, there are 8 projects including: 1.) Sena Park Grand Ram Inthra Km. 9 2.) Sena Ville Lam Luk Ka - Klong 6 3.) Sena Village Ram Inthra Km. 9 4.) Sena Park Ville Ring Road - Ram Inthra 5.) Baan Burapha 6.) Sena Shop House Phaholyothin Khu Khot 7.) Sena Viva Phetkasem - Phutthamonthon Sai 7 and 8.) Prow Town. Meanwhile, sales in the first half of 2022 amounted to 5.481 billion baht.

In the second half of 2022, SENA plans to cautiously develop new projects while implementing a strategy to diversify new project locations around Bangkok and its suburbs, catering to customers looking to buy for personal use as well as for investment. The company plans to develop approximately 10 new projects valued at a total of 5.866 billion baht, consisting of 6 high-rise and 4 horizontal projects, with sales targets of 6.636 billion baht and transfers of 7.595 billion baht. Nevertheless, SENA maintains its sales target at 13.979 billion baht and transfer revenue at 12.188 billion baht. Currently, the company has a sales backlog awaiting transfer of 8.702 billion baht, with 6.345 billion baht expected to be recognized this year and the remainder in the following year.

However, given the highly volatile market conditions both domestically and internationally, coupled with rising inflation, investing in real estate presents a good opportunity for those looking to save, as bank interest rates are relatively low. Therefore, real estate investment remains a stable and attractive option compared to other forms of investment.

Recently, SENA is preparing to issue bonds to enhance financial cost management and interest efficiency. The company is currently in the process of submitting a registration statement for the bond offering and a draft prospectus to the Securities and Exchange Commission for the second bond issuance of 2022. The bonds have a credit rating of "BBB" with a "negative" outlook from TRIS Rating Co., Ltd. as of May 31, 2022, with a minimum purchase of 100,000 baht and increments of 100,000 baht. The bond offering is expected to open for subscriptions in September.