Sena Development Public Company Limited (SENA) has announced its strategy for 2024, focusing on FOCUS, DEEP DIVE, and DELIBERATE as it welcomes the Year of the Golden Dragon. The company aims to drive its business under the theme "POWER OF TOGETHER: Uniting Forces for Sustainable Living" by expanding all business sectors to achieve a total revenue target of 15.1 billion baht. SENA plans to launch 17 new projects valued at a total of 28 billion baht, with sales targets of 17.5 billion baht and transfer goals of 12.7 billion baht.

Associate Professor Dr. Kesara Thanyalakphak (Dr. Yui), Managing Director of Sena Development Public Company Limited (SENA), a leading real estate developer known for its fully solar-powered villages and energy-efficient homes, shared insights on the real estate market outlook for 2024. She noted that the market continues to face challenges due to ongoing economic risks, including household debt, rising commodity prices, and the highest interest rates in a decade, leading financial institutions to deny up to 70% of housing loans. Additionally, land prices have increased by 1.5% (YoY), causing housing prices to rise by an average of 5-10% (YoY), compelling all operators to adapt accordingly.

“The issue of household debt is impacting the Thai real estate situation, and SENA cannot escape these challenges. However, we have developed effective management strategies to address these issues while maintaining a positive trajectory, as evidenced by our success in 2023, where we launched 16 new projects worth over 17.793 billion baht, generating revenue exceeding 10 billion baht at 10.954 billion baht, a growth of over 12%. We achieved a gross profit of over 3.2 billion baht, with transfer values at 8.432 billion baht, reflecting a growth of over 9%. All operational results are trending positively and improving continuously,”

Dr. Yui further stated that while SENA's performance last year was satisfactory, the various issues affecting consumers show no signs of diminishing. Therefore, in 2024, SENA plans to focus on business growth while addressing national economic challenges alongside broader social issues. Importantly, all operations will align with sustainable development principles that resonate with the company's vision of being a Lifelong Trusted Partner, emphasizing the collaborative power of its business groups, including SENA Development, SENX, and SENA Green Energy, which are ready to support and promote each other, embodying the Power of Together to foster business growth and ensure SENA remains a vital partner in enhancing the quality of life for customers across all age groups and generations.

Dr. Yui elaborated that the success of SENA this year is based on the collaborative power of its teams, structured around three strategic dimensions: FOCUS, DEEP DIVE, and DELIBERATE.

FOCUS: Emphasizing deeper segmentation, SENA targets the real demand segment capable of purchasing homes priced between 1 million and 3.6 million baht, or with monthly incomes not exceeding 30,000 baht. This group represents the largest segment, accounting for 54% of household incomes in Bangkok and its vicinity, aligning with SENA's expertise in the Affordable Segment. Currently, SENA has 99 projects available for sale, valued at approximately 116.396 billion baht, with 47 projects in the Affordable segment worth 37.409 billion baht, aiming to lead this market segment. Concurrently, SENA is poised to capture the number one market share in the BOI condo segment, which currently mandates a price cap of 1.2 million baht and a minimum area of 24 square meters. SENA has 22 projects under the brands SENA KITH, COZI, and ECO TOWN, totaling 9,785 units or nearly 13.9 billion baht in project value.

Additionally, SENA is expanding its segment into the upper market through its subsidiary SENX, which specializes in the upper market segment, planning to launch luxury single-house projects in prime locations in Bangkok, priced around 30 million baht, featuring elite-level personal services provided by our partner Hankyu Hanshin Properties Corp (HHP) from Japan, adhering to international hotel standards.

DEEP DIVE: SENA continues to delve into the specific needs of each resident group, not only aiming to be a Lifelong Trusted Partner that develops products and services to accompany customers through all life stages but also innovating real estate management solutions tailored to various financial situations of customers. This approach simplifies access to housing loans, enabling more individuals to own homes.

Currently, SENA is the only company offering innovative real estate management solutions that cater to all financial statuses of buyers, or New Financial Services and Innovation, acting as a personal financial advisor to facilitate comprehensive access to housing loans. A team of financial analysts provides services, including non-bank loans to manage credit or enhance access to housing loans, under the supervision of the Bank of Thailand.

SENA aims to deliver comprehensive solutions to customers, especially those facing financial readiness issues or credit challenges, compounded by rising housing prices that do not align with current incomes and increasing interest rates, making homeownership increasingly difficult, even for affordable homes. Therefore, we have developed a financial innovation called "Cash for Kindness" to assist customers in accessing housing loans more easily, thereby increasing opportunities for housing loan accessibility. In 2023, this initiative helped customers who were denied loans by banks access a total of 300 million baht in loans.

Moreover, SENA is preparing to officially launch its Financial Asset product soon, which will serve as a financial asset to facilitate homeownership, addressing the needs of the Generation Rent, particularly Gen Y and Z, who find it increasingly challenging to own homes due to soaring prices that outpace current incomes.

DELIBERATE: In addition to developing quality housing with financial innovations to enable everyone to own homes, SENA is thoughtfully considering (DELIBERATE) aspects of living in homes to ensure everyone enjoys a comfortable life with well-being, fostering happiness for themselves, those around them, and the community, addressing the challenges of today and the future through SENA LOW-CARBON initiatives. Living sustainably is made easy by SENA through various products and services, such as zero-energy homes, low-carbon condos, EV-ready installations, promoting public transport via V Move, free shuttle services, waste management systems for recycling, and Zeroboard, a carbon emission calculation platform, along with the SENA360 and SMARTIFY applications that facilitate low-carbon living.

Meanwhile, SENA Green Energy Co., Ltd. is positioned in a continuously growing clean energy trend, aiming to expand its solar business into the B2C market and plans to broaden its EV Charger business to become a comprehensive distributor. The electric vehicle business under the Neta brand is also preparing for expansion with a sales target of 1,000 units, along with related business models that will elevate it beyond a typical dealer. The reforestation project has upgraded its business plan to the international carbon credit market, targeting 10,600 rai this year.

Dr. Yui concluded by summarizing SENA's business goals for 2024, stating that for the overall business, SENA aims to launch 17 new residential projects valued at 28 billion baht, comprising 5 housing projects and 12 condo projects. The pre-sales target for this year is set at 17.5 billion baht, with a transfer target of 12.7 billion baht. For project management and service businesses, the revenue target is 1.4 billion baht, while the clean energy business aims for 1 billion baht in revenue.

“Another key focus for SENA's operations is sustainability, which has been a continuous commitment. This year, SENA Group aims to reduce carbon emissions by no less than 19,800 tons, equivalent to planting over 1,984,800 trees, through products and services such as 1,015 zero-energy homes, 10 low-carbon condos, solar installations for 1,800 homes, EV-ready installations for 1,015 homes, 1,000 EV cars, waste management initiatives, and reforestation efforts increasing from the initial 306 rai to a total of 10,000 rai, along with various energy-saving measures within the organization,” Dr. Yui concluded.