CP Land Public Company Limited, a leading real estate developer in Thailand, has announced its real estate business plan for 2024, aiming to aggressively enter new markets by redesigning its entire product line for both low-rise and high-rise developments. The company is also introducing a 10-year warranty** and preparing to launch 5 new flagship projects across 4 provinces nationwide.

Mr. Kirati Satasuk, CEO of CP Land, revealed that the company's performance in 2023 saw a 40% increase in revenue compared to 2022. For 2024, CP Land aims for a 60% growth compared to the previous year, driven by the investment in launching 5 new flagship projects in 4 provinces, which include:

1. Luxury Single-Detached House Project under the brand LUXRIVA RESIDENCES, located in Nakhon Si Thammarat, with prices starting from 12 to 20 million baht. The VVIP Pre-Sale round was launched in February and has already sold out the first phase, with the next phase now open for sale, expected to be ready for transfer by the end of Q3 2024.

2. Premium Single-Detached House Project under a new brand, located in Phitsanulok, with prices starting from 7 to 15 million baht, expected to start sales in Q3 2024.

3. Premium Single-Detached House Project under a new brand, located in Nakhon Sawan, with prices starting from 7 to 15 million baht, expected to start sales in Q3 2024.

4. High-Rise Condominium Project under a new brand, located in Khon Kaen, with prices starting from 2.3 to 4 million baht, expected to start sales by the end of Q3 2024.

5. Low-Rise Condominium Project under a new brand, also located in Khon Kaen, with prices starting from 1.7 to 3 million baht, expected to start sales by the end of Q3 2024.

The launch of these 5 new projects across 4 provinces marks a significant move for CP LAND to reinforce its new image. Following a brand refresh, the company has modernized its image and redesigned its product line for both low-rise and high-rise developments, offering a 10-year warranty** through the Welcome Home Club by CP LAND covering four main areas: 1. Building structure, 2. Roof leaks, 3. Water and electrical system leaks, and 4. Functionality of doors and windows in all new projects. This aligns with the business plan that began to shift in late 2022, with the launch of the new brand LUXRIVA RESIDENCES in Nakhon Si Thammarat serving as the first pilot brand, before CP LAND gradually introduces more new brands in the real estate sector by the end of Q2 2024.

The LUXRIVA RESIDENCES in Nakhon Si Thammarat, which sold out quickly in its first phase, represents an important first step for the new era of CP LAND, gaining trust from high-net-worth individuals, successful local entrepreneurs, and luxury regional customers. This reflects a well-targeted marketing strategy, with a new home design that meets the needs of customers seeking a true residential retreat, underpinned by the company’s construction standards and the introduction of a 10-year warranty** as the first project. The project features modern design that blends Thai cultural elements with local southern culture, incorporating national-level artists and designers to present local wisdom in a contemporary context, while adapting designs to suit the tropical climate, ensuring residents enjoy the utmost comfort and tranquility.

“Overall, the real estate market in 2024 remains a challenge for CP LAND due to economic factors. However, the premium-luxury tier single-detached house market is expected to continue growing, contrary to the general real estate market, as this customer segment has purchasing power without needing loans, provided that the products meet all basic needs and offer a genuine sense of home. CP LAND sees this opportunity and is committed to developing new products under the LUXRIVA RESIDENCES brand and other new brands that align with customer demands in terms of image and functionality, backed by studies from expert teams and a 10-year warranty from Welcome Home Club by CP LAND. This instills confidence in customers that they will receive the best from CP LAND, ensuring that when considering real estate purchases, they think of CP LAND. With this approach, we believe that the CP LAND brand will remain strong, grow alongside new customer interests, and be in high demand,” Mr. Kirati concluded.