Mr. Boon Chunkiat, Managing Director of Chewathai Public Company Limited (CHEWA), revealed that in 2022, despite various situations that could impact the overall real estate market, and the foreign market not fully recovering yet, the company continued to show consistent growth. In 2022, the company reported total revenue of 2.148 billion baht and a net profit of 120 million baht, an increase of 70% from the previous year.


Mr. Boon Chunkiat, Managing Director of Chewathai Public Company Limited (CHEWA)

In 2023, the company plans to invest and launch new projects, starting with the introduction of a single-house project under the Chewaram brand, namely Chewaram New Ratchaphruek, located on the new Ratchaphruek Road (Road No. 346), with a project value of approximately 687 million baht, expected to start recognizing revenue in the fourth quarter of 2023.

Additionally, the company plans to acquire land for further project development, targeting 7 projects within 2023, with a total project value of 6.35 billion baht (with a land acquisition budget of approximately 1.7 billion baht), including:
- 2 low-rise condominium projects under the Chewathai Hallmark brand, valued at approximately 2 billion baht
- 1 high-rise condominium project under the Chewathai brand, valued at approximately 1 billion baht
- 1 low-rise condominium project under the Chewathai Hallmark Lite brand, valued at 700 million baht
- 2 single-house projects under the Chewaram brand, valued at 1.5 billion baht
- 1 townhome project under the Chewahome brand, valued at approximately 800 million baht.

The company continues to seek new business opportunities and is open to joint ventures in real estate and related businesses.

During a time when many companies are launching promotions to encourage customer decisions, Chewathai has prepared numerous promotions tailored to each project's target group, starting from the beginning of the year with the “Guaranteed! Book for 0 Baht and Receive a Trip to Georgia for Every Unit” promotion, offering this special benefit to customers who book and transfer condos in three prime locations:
- Chewathai Kaset-Nawamin
- Chewathai Hallmark Ladprao - Chokchai 4
- Chewathai Pinklao

From January 15 to March 31, 2023, every unit will receive a travel package and round-trip airfare to Georgia worth 40,000 baht.

Since the launch, the response has been quite positive, with many customers showing interest. It is believed that this promotion will meet consumer needs by providing both a new residence and an international travel package.

In addition to condos, Chewathai is also preparing to assist those who wish to own a home but may face challenges with loan approvals and real estate information through the upcoming project “Want to Buy a House but Facing Problems? Come to Chewathai,” aimed at helping aspiring homeowners from the preparation stage, loan application, to selecting the right project. A professional team will be introduced to assist all customers, expected to be another option for those wanting to own a home but are still concerned about loan approvals or need consulting.

Furthermore, in February, June, and September of this year, there will be major promotions from Chewathai called “MEGA SALES” to give back to customers throughout the year, expected to continue attracting customer interest.

The overall real estate market forecast for 2023 shows a growth trend in line with the economic recovery, supported by positive factors from tourism and related businesses. However, there are several factors that may impact growth, such as rising real estate prices due to a limited supply of existing housing projects. Therefore, most new projects will calculate prices based on increased new costs due to inflation, rising minimum wages, and increased construction costs from material prices and energy costs, which are both production and transportation costs. Another factor is the government's policy rate hikes, which continuously increase loan and deposit interest rates, leading homebuyers to face higher installment payments or longer repayment periods. Financial institutions or banks will have stricter criteria for loan approvals, and approved loan amounts may be reduced. Although there are periodic government measures to support the real estate sector, they may not be sufficient to stimulate overall market growth.

Customer care is the company's top priority. Chewathai continues to develop product quality and after-sales service through Chewa Care to reinforce its position as the number one choice in customers' hearts regarding quality and service (for real estate companies with revenues not exceeding 5 billion baht). At the same time, it continues to maintain product quality to achieve Zero Defect for customers purchasing projects from Chewathai, ensuring they receive the best from pre-sales to after-sales services, along with numerous special rights and services from us,” said Mr. Boon Chunkiat.

Additionally, the second-hand home business under Chewa Renew, which auctions properties from the Department of Legal Execution for renovation, sold a total of 38 units in 2022. Although this is still a small number, it marks a good starting point for learning about auction processes and sourcing properties from AMC or selecting non-performing loans from these companies.