Asset Wise Public Company Limited (ASW) has announced its strong performance in 2023, achieving a new record with revenue of 7.175 billion baht, a growth of 20%, and a net profit of 1.092 billion baht. The pre-sale sales last year reached 16.486 billion baht, growing by 16%, exceeding the set target. In 2024, ASW plans to continue its expansion in the real estate market by launching 12 new projects valued at a total of 25.92 billion baht, with a sales target of 17.8 billion baht, an 8% growth, and projected revenue of 8.7 billion baht, an increase of 38%.

Mr. Kramchat Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept "Happiness Designed for You" or "We Build Happiness," revealed that the overall performance in 2023 exceeded the company's targets, achieving a new high with revenue of 7.175 billion baht, a growth of 20%, and a net profit of 1.092 billion baht. This success is attributed to the continuous transfer of ownership of new projects, with 10 completed projects valued at a total of 14.53 billion baht, providing a strong revenue recognition momentum from 2023 to 2024. The accumulated pre-sale sales for 2023 also set a new record at 16.486 billion baht, growing by 16% compared to the previous year and surpassing the original target, with a total of 15 new projects launched, valued at over 30.26 billion baht, exceeding the initial goal of 12 projects worth 22.5 billion baht.

The overall real estate market in 2023 faced challenges due to economic risks both domestically and internationally. However, growth depends on operators who can identify business opportunities and are ready to invest. Last year, ASW invested in Rompho Property Public Company Limited (TITLE), which recently launched The Title Legendary Bang-Tao project valued at 4.5 billion baht, receiving positive responses from both Thai and foreign customers, achieving over 80% sales. The company also plans to continue developing projects, including the Botanica Grand Avenue luxury pool villa project valued at 13 billion baht.

For the business plan in 2024, the company aims to continue its growth by launching 12 new projects worth 25.92 billion baht and setting a sales target of 17.8 billion baht, an 8% growth, with a revenue target of 8.7 billion baht, a 38% increase. This will be achieved through sustainable growth strategies across all dimensions, such as focusing on creating quality homes and condominiums to win consumer hearts, developing projects in areas of expertise, and expanding opportunities to new potential locations throughout Bangkok, the surrounding areas, the EEC, and Phuket. The company is also committed to seeking new business and investment opportunities continuously to create a stable recurring income portfolio for the long term.

In the first half of 2024, the company plans to transfer ownership of 6 new projects, including three KAVE brand campus condominiums: Kave Seed Kaset, Kave Universe Bang Saen, and Kave Town Island, with a total project value of over 5 billion baht, currently averaging over 75% sales. Additionally, there are projects such as Atmoz Kanaal Rangsit valued at 1.65 billion baht, The Title Halo 1 Naiyang valued at 1.537 billion baht, and The Honor Yothinpattana valued at 4.2 billion baht, along with The Arbor Donmueang – Chaengwatthana valued at 1.050 billion baht.

Mr. Kramchat further stated that the overall real estate business in 2024 is expected to improve in line with GDP growth projected at 2.2-3.2%. However, there are pressure factors such as household debt issues and increased mortgage rejection rates from commercial banks. Positive factors include the extension of tax relief measures for buyers of properties priced below 3 million baht until the end of 2024, which will encourage potential homebuyers this year, along with the anticipated reduction in interest rates mid-year and the recovery of the tourism sector. The recent permanent visa-free measures for tourists from China are expected to take effect on March 1, 2024, which should invigorate the Thai economy.

“With the company's strengths as a developer of condominiums that meet customer needs, being a market leader in condominiums near educational institutions with high purchasing power, and expanding investments in Phuket, a global tourist destination covering both condominiums and luxury pool villas, we believe that 2024 will be another significant year of growth for ASW,” Mr. Kramchat concluded.

ASW operates in real estate development, focusing on high-rise and low-rise residential projects in potential locations under the concept "Happiness Designed for You" or "We Build Happiness." Currently, the company has developed over 62 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and projects under Rompho Property Public Company Limited (TITLE), a subsidiary of ASW, with a total project value of over 82.1 billion baht, comprising 45 completed and ready-to-occupy projects and 17 projects currently for sale and under development. As of the end of 2023, the company had a backlog of sales waiting to be recognized, valued at over 19.575 billion baht.