'Asset Wise Public Company Limited' or ASW reinforces its business potential by gradually transferring ownership of 4 newly completed projects in the fourth quarter of 2023, with a total project value of 6.4 billion baht. This year is considered a golden year with a total of 10 completed projects for ownership transfer, amounting to 14.53 billion baht, and another 10 projects expected to be completed and transferred next year, with a total project value of 23.18 billion baht. The company plans to continue expanding into the Phuket residential market after successfully closing sales for the first phase of 'The Title Legendary Bang Tao' within a single day.

Mr. Kramchet Wiphanpong, CEO of Asset Wise Public Company Limited (ASW) , a leading real estate development company focusing on lifestyle under the concept of 'Happiness Designed for You' or 'We Build Happiness', revealed that the overall operations this year are considered a golden year for the company due to the gradual completion of new projects for ownership transfer, totaling 10 projects worth 14.53 billion baht. Among these, 4 new projects are set to be completed and transferred in Q4/2023, with a total value of 6.4 billion baht, including Kave Colony project, which has achieved 100% sales with a project value of over 1.8 billion baht, featuring a prime location near Bangkok University and over 30 amenities catering to the lifestyle of the new generation, as well as those looking for long-term investment returns; Atmoz Oasis Onnut valued at 2.2 billion baht; Atmoz Flow Minburi valued at 1.35 billion baht; and The Arbor Donmueng-Changwattana valued at 1.05 billion baht. Additionally, the company has plans for another 10 projects to be completed and gradually transferred next year, with a total value exceeding 23.18 billion baht, reflecting ASW's potential and confidence in its growth trajectory and strong revenue recognition plans.

Meanwhile, the plan to launch new projects this year has been increased to 15 projects, with a total project value of 30.26 billion baht, up from the original plan of 12 projects worth 22.5 billion baht, to support future growth plans. In Q4/2023, the company is set to launch 5 new projects with a total project value of 15.1 billion baht, including 1. Kave Wonderland with 1,424 units valued at 2.55 billion baht, which will start showcasing model rooms by the end of December; 2. Atmoz Canvas Rayong with 674 units valued at 1.25 billion baht, located next to Central Rayong to accommodate the expansion of investments in the Eastern Economic Corridor (EEC); 3. Modiz Voyage Srinakarin with 813 units valued at 2.6 billion baht, just 300 meters from the yellow line Skytrain station at Sri Kritha; 4. The Honor Yothinpattana project, a luxury single-house development with 106 units valued at over 4.2 billion baht, featuring 6 model houses for viewing; and 5. The Title Legendary Bang Tao with 637 units valued at 4.5 billion baht.

“The Title Legendary Bang Tao project has been highly successful in the Phuket real estate market. After organizing the Agent Day event, we managed to close sales through agents for over 300 units in the first phase, amounting to approximately 2 billion baht in just one day. Therefore, we are confident that Phuket real estate remains in demand among foreign customers,” Mr. Kramchet stated.

The CEO of ASW discussed the overall real estate market in 2023, stating that the market is gradually growing in line with the economic recovery, influenced by the recent increase in policy interest rates. The transition to a new government has led to a lack of continuity in public spending, causing a slowdown in private sector investment, resulting in a vacuum in the real estate market during the second and third quarters, with consumers hesitating to make housing purchases. However, some segments of the housing market still show strong purchasing power, such as campus condominiums, due to a group of people looking to diversify their investment risks and manage their finances by purchasing condos for long-term returns in a low deposit interest rate environment, as well as buying for personal residence. Additionally, it was found that the real estate market in key tourist cities is experiencing good growth from both Thai and foreign tourists purchasing properties as second homes.

The company forecasts that the overall real estate business in 2024 will likely improve in line with GDP, which is expected to grow by 2.8-3.3%, as the overall real estate market in October-November has begun to show positive signs due to various factors, including the Israel-Hamas conflict not escalating, the stabilization of Thailand's policy interest rates, and the momentum of private consumption from various government economic stimulus measures being gradually rolled out, such as the Easy E-Receipt measure starting from January 1 to February 15, 2024, and the Digital Wallet project, among others, as well as the purchasing power from foreigners returning to buy real estate as second homes in important tourist cities like Phuket.

“In 2024, the company plans to expand its real estate investment projects in Phuket through its subsidiaries, including Rompho Property Public Company Limited (TITLE) and Botanica Grand Avenue Company Limited (BGA), to meet the housing needs of foreigners, tourists, and workers in Phuket,” Mr. Kramchet stated.

ASW is engaged in real estate development, focusing on high-rise and low-rise residential projects in prime locations under the concept of 'Happiness Designed for You' or 'We Build Happiness'. Currently, it has developed over 57 condominium and housing projects under its brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, and THE HONOR, with a total project value exceeding 67 billion baht, comprising 41 completed and ready-to-move-in projects and 16 projects currently on sale and under development. The company currently has a backlog of sales awaiting revenue recognition valued at over 16.34 billion baht.