Outstanding Performance in 2023

Plus Property reports that amidst the challenging economic landscape of 2024, eight giants in the Thai real estate sector have revealed impressive results for 2023. Sansiri has claimed the top spot with the highest total revenue, while Land and Houses achieved the highest net profit, reflecting their distinct strategies. Additionally, when considering investments through real estate stocks, all eight companies boast a commendable Dividend Yield ranging from 6% to 11%, led by Sansiri at 11%.

8 Top Real Estate Companies: Outstanding Performance and High Dividends

Plus Property has compiled the 2023 performance results of these eight real estate giants, comparing their profit, revenue, and growth rates. This analysis signals important trends for the real estate market in 2024, showcasing different management approaches and highlighting what to watch in the market this year. Real estate stocks are categorized as having relatively high Dividend Yields, with these eight companies showing yields between 6% and 11%, led by Sansiri at 11.0%, followed by Pruksa at 7.7%, SC Asset at 7.2%, Supalai at 7%, Quality Houses at 6.8%, Land and Houses and AP Thailand at 6.6%, and Origin at 6%.

Sansiri Tops Revenue Performance with 39,082 Million Baht

Sansiri has reinforced its strength in the real estate sector, showcasing a record total revenue of 39,082 million baht in 2023, an increase of 11.7% from the previous year, driven by the launch of new projects in both horizontal and vertical segments, particularly luxury single-house projects. Its net profit reached 6,060 million baht, marking a historic high since its establishment 40 years ago, with a 42% increase from 2022's net profit of 4,280 million baht, resulting in a net profit margin of 15.5%.

Land and Houses Achieves Highest Net Profit of 7,482 Million Baht

Land and Houses reclaimed its title as the highest profit-making company, reporting a net profit of 7,482 million baht, down 10% from last year, with a net profit margin of 24.8%. Total revenue was 30,170 million baht, a decrease of 17.9% from the previous year. This year, they plan to launch 11 new projects valued at 30,200 million baht.

AP Thailand Reports Revenue of 38,399 Million Baht

Last year, AP Thailand generated revenue of 38,399 million baht, ranking second in the real estate market. This reflects a 0.8% decrease compared to the same period last year, while net profit rose to 6,054 million baht, up 3% from the previous year's 5,877 million baht, resulting in a net profit margin of 15.8%. This year, they plan to launch 48 new projects worth 58,000 million baht.

Supalai Generates Revenue of 31,818 Million Baht

Supalai reported total revenue of 31,818 million baht, a decrease of 10.4% from 2023, and a net profit of 5,989 million baht, down 27%, resulting in a net profit margin of 18.8%. In 2024, they plan to launch a record 42 new projects worth 50,000 million baht in new locations.

Pruksa Reports Revenue of 26,132 Million Baht

In 2023, Pruksa Holding achieved a net profit of 2,205 million baht, down 21%, with a net profit margin of 8.4%. Total revenue was 26,132 million baht, derived from real estate, healthcare, and other income sources. This year, they plan to launch 30 new real estate projects totaling 29,000 million baht, split evenly between affordable and mid-to-high price segments.

SC Asset Reports Total Revenue of 24,566 Million Baht

SC Asset achieved total revenue of 24,566 million baht, a growth of 13.5%, with a net profit of 2,482 million baht, down 3%, resulting in a net profit margin of 10.14%. In 2024, they aim for record sales of 28,000 million baht and plan to invest over 25,000 million baht across various sectors, including residential, hotels, warehouses, and offices, with 103 projects in total.

Origin Reports Total Revenue of 15,157 Million Baht

Origin generated total revenue of 15,157 million baht, a decrease of 3.7%, with a net profit of 2,718 million baht, down 28% from last year, resulting in a net profit margin of 17.9%. This year, they plan to launch 14 new projects worth 20,000 million baht.

Quality Houses Reports Total Revenue of 9,237 Million Baht

Quality Houses achieved total revenue of 9,237 million baht, a decrease of 2.2%, with a net profit of 2,503 million baht, an increase of 5%, resulting in a net profit margin of 27.1%. In 2024, they plan to launch 6 projects worth over 10,000 million baht in Bangkok.

Forecast for the Thai Real Estate Market in 2024

Mr. Anukool Ratphitaksanti, Managing Director of Plus Property Co., Ltd., an expert ready to address all real estate service needs, analyzes that 2024 is a year of hope for a clearer recovery of the Thai economy. This is supported by government policies stimulating various sectors, such as reducing household expenses, which lowers living costs and leaves more disposable income for other expenditures, alongside welcoming tourists and opening the country as a production hub for large industrial factories for foreign businesses. This has allowed economic activities to resume fully, and real estate operators are adjusting their business plans to be more suitable, highlighting their unique strengths. Some companies are delaying project launches to assess the situation, while others are moving forward with new projects at full capacity, and some are expanding in the housing market while seeking revenue from other channels. Overall, the past year aligns with data from the Real Estate Information Center (REIC), which predicts that the housing market will recover due to adjustments by operators balancing unsold inventory and new products, with an expected 108,886 new housing units, a 13.7% increase. However, major real estate companies in the country continue to showcase impressive performance, reflecting a positive growth trend in the real estate business.

Nevertheless, the real estate market still faces several risk factors that need to be monitored and prepared for, including the direction of economic recovery in various countries that may impact Thailand, trends in rising energy and commodity prices, which pressure costs and inflation rates, and the increase in interest rates by banks. Nonetheless, Plus Property believes that in 2024, the real estate business still has growth potential, and operators must continuously adapt and seek new opportunities.

*Data presented by Plus Property from www.set.or.th as of February 29, 2024.