Asset Wise Public Company Limited (ASW) has marked a significant achievement by setting a new sales record for 2023, reaching 16.486 billion baht, exceeding its target with a growth of over 16% from the previous year. The year 2023 is seen as a golden year with 10 completed projects ready for ownership transfer, totaling 14.530 billion baht. For 2024, the company plans to transfer ownership of another 10 projects, ensuring continuous revenue recognition. The government’s extension of tax incentives for home buyers is expected to stimulate the market.

Mr. Krungchet Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading property development company focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that the overall performance in 2023 exceeded expectations, achieving a new high sales figure of 16.486 billion baht, a 16% increase from 2022. This surpasses the annual target of 15 billion baht, driven by positive responses to condominium projects launched last year, such as Modiz Avantgarde, a campus condo near Thammasat University valued at 1.800 billion baht, and Kave Town Island, with a total project value of over 3.200 billion baht, which received strong interest from both residents and investors. Recently, the company launched The Title Legendary Bang-Tao condominium project valued at 4.500 billion baht, which sold out through agents on the first day.

The overall real estate market in 2023 faced challenges due to economic risks both domestically and internationally. However, the company continued to grow by developing properties that align with current consumer purchasing power, including city condos for urban workers and campus condos with high demand from students and parents, as well as investors looking to diversify their investments and manage finances through real estate for long-term returns amidst low deposit interest rates and the resurgence of both domestic and international tourism in key tourist cities for second homes. Therefore, despite the challenges, 2023 is also considered a golden year for ASW, as it not only achieved record sales but also had 10 new projects ready for ownership transfer, totaling 14.530 billion baht, which will provide a strong boost for continuous revenue recognition from 2023 to 2024.

Mr. Krungchet Wiphanpong further stated that in 2024, the company will have 10 new projects ready for transfer, with a total value of 19.307 billion baht, including 8 condominium projects worth over 14.057 billion baht, such as Atmoz Kanaal Rangsit, The Title Halo 1, Kave Seed Kaset, Kave Uni.verse, and Kave Town Island, among others, and 2 horizontal projects valued at over 5.250 billion baht, including The Honor Yothinpattana and The Arbor Donmueang – Chaengwatthana. The horizontal projects will gradually recognize revenue over the next three years. Additionally, the company has ready-to-move-in projects and a strong backlog that will enhance its growth potential.

“The overall real estate business outlook for 2024 is expected to improve in line with GDP growth. The National Economic and Social Development Council estimates GDP growth at 2.7-3.7%. The government’s extension of tax incentives for home buyers for another year, effective until December 31, 2024, reducing property transfer registration fees from 2% to 1% and mortgage registration fees from 1% to 0.01% for residences priced below 3 million baht, will positively impact the real estate market, drive economic growth, and alleviate the burden for those looking to purchase properties in 2024,” said Mr. Krungchet.

ASW is engaged in property 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." The company has developed over 62 condominium and housing projects under various brands designed to create happiness for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and the subsidiary company TITLE, with a total project value exceeding 82.1 billion baht, comprising 45 completed and ready-to-move-in projects and 17 projects currently on sale and under development. As of the end of Q3 2023, the company has a backlog valued at over 16.337 billion baht.