Property Perfect's business plan for 2023 aims for total revenue of 22 billion baht, focusing on growth in three main areas: horizontal projects, joint ventures, and hotel businesses. The sales target for Property Perfect is set at 16.5 billion baht, with the launch of 14 new projects valued at 17.7 billion baht, expanding the mid-range housing segment with strong purchasing power and increasing the proportion of luxury home sales to 1 in 5 among the market leaders in the high-end housing sector, along with the introduction of a new condominium project after four years.

Mr. Wongsakorn Prasithwiphat, Managing Director of Property Perfect Public Company Limited, announced the business direction for 2023, stating that the group aims to create growth in all dimensions, including revenue, sales increases, new product development, and business diversification.


Mr. Wongsakorn Prasithwiphat, Managing Director of Property Perfect Public Company Limited

This year, the estimated total revenue for the group is 22 billion baht, which includes:

  • Real Estate Business
    - Property Perfect: 16 billion baht
    - Grand Asset: 6 billion baht
    or broken down as follows:
    - Horizontal projects: 9.6 billion baht
    - Condominium projects: 3 billion baht
  • Joint Venture Projects: 6.4 billion baht
  • Hotel Business: 3 billion baht

 

“This year's expansion is driven by three main factors: the growth from horizontal projects, which is a strength of the company, and we will aggressively launch additional horizontal projects, resulting in sales from horizontal projects accounting for 74% of total sales. Additionally, there is growth from joint venture projects, which this year is a year of reaping the benefits from investments in both horizontal and condominium projects.

Revenue from joint ventures is expected to account for 30% of total revenue, driven by continuous sales growth, with a target of 62% sales growth from joint ventures compared to last year. Importantly, the hotel business of the group shows clear signs of recovery, with expected revenue doubling due to the recovery of the tourism sector. Hotels in Bangkok are expected to generate revenue similar to that of 2019, before the COVID-19 situation, with an average occupancy rate of 72% across all hotels in the group. Furthermore, the company is diversifying its business by investing in commercial real estate to create long-term revenue, which will start generating income in 2024.”

Mr. Wasan Srirattanapong, Chief Business Development Officer of Property Perfect Public Company Limited

Regarding Property Perfect's business plan, Mr. Wasan Srirattanapong revealed that this year the company aims for sales of 16.5 billion baht from horizontal projects worth 9.7 billion baht, condominium projects both domestically and in Japan worth 2.4 billion baht, and joint ventures worth another 4.4 billion baht.

This year, 14 new projects will be launched, with a total value of 17.7 billion baht, including 9 single-family and twin-house projects worth 11.73 billion baht, 3 townhome and commercial building projects worth 2.77 billion baht, 1 joint venture project with “Sumitomo Forestry” worth 2.2 billion baht, and 1 condominium project worth 1 billion baht, marking the introduction of a new condominium project after four years.

“This year's approach will focus on increasing products in the high-end housing segment, which has grown over the past 2-3 years and continues to grow. This year, the sales target for luxury homes is set at 50% or 5 billion baht, making it 1 in 5 of the market leaders in luxury homes by introducing new products such as three-story single-family homes in urban locations.

A new three-story luxury home brand “Wavilla” will be launched, along with new house designs in both the company's high-end projects and joint ventures. For the new projects, there will be an increased focus on mid-range single-family home projects to broaden the market for customers with strong purchasing power.

This year, there will be 7 new mid-range single-family home projects worth a total of 10.93 billion baht under 2 main brands: Perfect Place and Perfect Park. This year, there will also be a new low-rise condominium project on Pattanakarn Road behind Sinphat Hospital, scheduled to launch in the second quarter.”

 

Overall, more than 50% of sales will come from projects in 4 main zones, both on the eastern and western sides of Bangkok, including Krungthep Kreetha, Sukhumvit 77, Chaiyaphruek, and Ratchaphruek. In each location, the company has both ongoing projects and new project launches, as well as plans to develop them into comfortable residential communities.

Additionally, the company continues to develop new products to enhance value and meet trends and consumer behaviors by incorporating environmentally friendly and hygienic technologies into new house designs, such as installing solar roofs for electricity from solar energy, implementing smart home systems to reduce contact for the hygiene of residents, and installing EV chargers to support electric vehicle users, among others.