LPN is moving forward with its organizational drive in 2023 under the concept of “Transform for Better Living,” aiming for strong and sustainable growth in all dimensions. The company plans to develop projects that enhance livability across the board under the brand “168”, with plans to launch 17 projects worth a total of 14 billion baht.

Mr. Opas Sripakdi, CEO and Managing Director of L.P.N. Development Public Company Limited (LPN), stated that 2023 is a challenging year for driving the organization amidst changing consumer behavior in the housing market following the COVID-19 pandemic. LPN has designated 2023 as a year of transformation to lead to better housing development in line with the concept “Transform for Better Living” to meet the needs of people of all ages and expand its customer base through the development and design of housing that aligns with the lifestyles of customers at all levels, aiming for a total revenue of 50 billion baht from 2022 to 2026 as per the 5-year roadmap.


Mr. Opas Sripakdi, CEO and Managing Director of L.P.N. Development Public Company Limited (LPN)

“2023 is a year that must face challenges on multiple fronts, including the ongoing COVID-19 pandemic that has altered customer behavior, the potential global economic downturn, rising interest rates, and upcoming political changes following the elections in the first half of 2023. Therefore, the company plans to elevate its management to achieve strong and sustainable growth, starting with the pilot unveiling of a new look for project development under the ‘168’ brand, which has already begun to create a clearer new experience for LPN. Additionally, there are plans to expand residential development into premium housing projects, following positive customer feedback that has allowed the successful sale of the BAAN 365 RAMA 3 project,” Mr. Opas said.

As LPN steps into a new dimension that centers on customer needs (Customer Insight) as a key to organizational development, LPN is committed to creating better experiences for target customers to build new brand awareness for ‘168’. This includes restructuring internal management to ensure consistent revenue distribution and a profit growth of at least 10% per year, as part of the ‘Turnaround’ organizational drive that began in 2022 and continues into 2023, which consists of:

  • Corporate Transformation: Changing the business structure, developing real estate vs. services. After separating the management structure of L.P.P. Property Management Co., Ltd. (LPP) as an independent entity in 2022, LPN still holds 100% of the shares. Currently, LPN operates in real estate development, including the development of condominiums and residential homes across all price levels to meet the needs of buyers in all target groups.
  • Management Transformation: Changing the company structure to Business Units. In 2022, LPN restructured its internal management into a Business Unit format, consisting of 4 business units:
    1) Condominiums
    2) Value residential homes
    3) Premium residential homes
    4) Rental business. In 2023, this will increase to 5 business units by adding another unit for developing Value residential homes to align with the expansion plan for 2023 and increase sales from condominiums with tenants through services and rentals, catering to investors seeking higher returns than deposits while maintaining low risk through professional management by LPN.
  • Project Development Transformation: Developing projects under the concept of livability or Livable Communication. In 2023, LPN plans to develop projects that emphasize unique designs under the ‘168’ brand, creating residences based on the concept of “Livable Community,” which is the core concept for creating various projects to meet the changing lifestyles of customers today, such as installing EV Chargers and Solar Cells in every project, along with amenities to enhance the living experience in prime locations.
  • Digital Transformation: Utilizing technology to enhance efficiency and reduce operational costs. LPN aims to achieve a “Fully Digital Organization” in all departments by 2024 to increase operational agility, supporting marketing, sales, design, and service efforts to create a more effective customer base and provide new experiences across various channels, addressing the lifestyles of people today and in the future.
  • Brand Transformation: Adjusting the brand image to meet the needs of the new generation. 2023 will be a year of expanding awareness and creating new experiences for LPN among both existing and new target groups as a quality housing developer for 34 years.

Recently, the company updated its logo in October 2022, marking a new milestone for the LPN brand with more harmonious lines that reflect its working and development philosophy.

The brand is moving towards sustainable strength, and this year LPN is also ready to create collaboration opportunities with business partners (Collaboration & Partnership) in various areas to enhance brand accessibility to customers, including adjusting internal working methods to motivate employees to use creativity with customer needs as the focus, and attracting new generations to join the workforce in the future #striveforexcellence.

“In addition to the aforementioned business strategies, 2023 is also designated as a year of environmental focus, with guidelines for managing CO2 emissions under the Carbon Neutrality approach (where CO2 emissions equal CO2 absorption) and implementing a zero waste policy for all construction projects to align with the government’s policy to reduce carbon dioxide (CO2) emissions in Thailand by 20-25% by 2030. This policy aligns with the company’s commitment to sustainable development in three dimensions: economy, society, and environment, starting from applying international green building design principles in project development since 2009 and continuously developing these principles into standards under the concept of 6 Green LPN,” Mr. Opas stated.

In 2023, LPN has set a total revenue target of 7.6 billion baht, representing a 20% growth from 2022, with plans to launch 17 new projects worth a total of 14 billion baht under the “168” brand, divided into:

  • 4 condominium projects worth 5 billion baht.
  • 13 residential projects worth 9 billion baht, with 3 premium residential projects set to open for pre-sale on February 25-26:
    - Residence 168 Ratchaphruek
    - Maison 168 Muang Thong
    - Villa 168 Westgate

14 projects are scheduled to begin delivery in 2023, divided into:

  • 2 condominium projects:
    - Lumpini Condo Town Ekachai 48
    - Lumpini Township Rangsit-Klong 1 (Phase 3)
  • 12 residential projects: Residence 168 Ratchaphruek, Residence 168 On Nut 46, Maison 168 Muang Thong, Villa 168 Westgate, Venue 168 Westgate, Venue 168 Kukot Station, Venue 168 Ratchaphruek, Haus 168 Westgate, Haus 168 Kukot Station, Haus 168 Ratchaphruek, and 2 new projects.

In 2022, LPN reported total revenue of 6.136 billion baht, a 42% growth compared to 2021, divided into:

  • Condominium projects: 3.769 billion baht.
  • Residential projects: 2.064 billion baht.
  • Rental business revenue: 303 million baht.
  • Special income from office building sales: 2.590 billion baht.

And has a backlog of recognized revenue worth 1.845 billion baht that will generate income in 2023-2025, along with an inventory worth 7 billion baht.

2023 will be the first year in five years for LPN to expand residential project development in provincial areas again, after previously launching condominium projects in Udon Thani, Chonburi, Pattaya, and Cha-am. This is due to the opportunity for investment expansion in line with urban growth, transportation routes, and buyer demand. LPN will focus on expanding project development in provinces with high growth potential and purchasing power, especially in the Eastern Economic Corridor (EEC).