• AssetWise showcases its performance for the first 9 months of 2024, achieving revenue of 7.8 billion baht, a 63% increase from the previous year, accounting for 90% of the annual revenue target.
  • Net profit stands at 1.3 billion baht, growing 114%, with a backlog of 23.07 billion baht, set to recognize revenue continuously until 2026.
  • Recently, the company has launched a total of 13 new projects valued at 36.82 billion baht.
  • In the final quarter, 4 major projects will be launched, including the "KAVALON" campus condominium near Bangkok University, continuing expansion into Pattaya and Phuket as tourism shows positive signals.
  • Confident that the strategy of entering new markets, strong branding, and good transfers will drive revenue to meet the target of 8.7 billion baht.

ASW reports strong performance for the first 9 months of 2024, generating 7.8 billion baht in revenue, a robust 63% growth, and accounting for 90% of the annual revenue target of 8.7 billion baht, with a net profit of 1.3 billion baht, up 114% from the previous year. The company boasts a strong backlog of 23.07 billion baht, set to recognize revenue continuously until 2026, and is ramping up plans to launch a total of 13 projects valued at 36.82 billion baht, including 4 major projects to close out the year: the "KAVALON" campus condominium near Bangkok University, while also targeting key tourist cities like Pattaya and Phuket as tourism shows positive trends. The company is confident that its strategy of entering new markets, strong branding, and effective transfers will support revenue growth to meet the target of 8.7 billion baht.

Mr. Kramchad Wiphanpong, CEO of AssetWise Public Company Limited (ASW), a leading real estate development company focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," stated that the company achieved total revenue of 7.8 billion baht in the first 9 months of 2024 (January-September 2024), reflecting a 63% increase compared to the same period in 2023 (YoY), resulting in total revenue currently accounting for 90% of the annual target of 8.7 billion baht. Meanwhile, the company reported a net profit of 1.3 billion baht, growing 114% from the previous year.

Notable projects with significant transfer volumes in Q3/2024 include the Kave Town Island campus condominium project near Bangkok University, valued at 3.5 billion baht, and the THE TITLE HALO 1 leisure condominium project developed by Rompho Property Public Company Limited (TITLE), a subsidiary, valued at 1.537 billion baht, both of which have received positive responses with continuous transfer volumes. Both projects have been recognizing revenue since Q2/2024, while the accumulated sales for the first 9 months reached 14.578 billion baht, a 24% increase compared to 2023, accounting for 82% of the annual sales target of 17.8 billion baht.

As of the end of Q3/2024, the company has a backlog of approximately 23.07 billion baht, which will provide a solid foundation for ASW to recognize strong revenue until 2026.

Mr. Kramchad further stated that ASW has recently considered expanding its new project launches in 2024 to a total of 13 projects valued at 36.82 billion baht, an increase of about 42% compared to the initial plan announced earlier this year and up over 22% from last year. This expansion aligns with the positive signals from the tourism sector since the beginning of the year, especially in Phuket, which saw a total of 7.36 million international tourists in the first 9 months, a 22.57% increase from last year. Given the positive response from previous project launches in key tourist cities, the company is moving forward with new residential projects targeting important tourist locations in Thailand, such as Pattaya and Phuket, in the final quarter of the year.

In Q4/2024, the company plans to launch a total of 4 new projects: 1. Aquarous Jomtien Pattaya, a luxurious condominium project with 606 units near Jomtien Beach, valued at 5 billion baht; 2. Kavalon, the latest campus condominium project with 2,192 units located adjacent to Bangkok University, targeting students, staff, and investors, valued at 4.5 billion baht; 3. THE MODEVA, a leisure residence project with 859 units in a prime location near Bang Tao Beach, valued at 6.2 billion baht; and 4. THE TITLE ARTRIO BANG-TAO, a leisure residence project with 435 units near Porto de Phuket and lifestyle amenities, valued at 2.6 billion baht.

“The strategy of expanding into new high-potential markets like Phuket, along with the strength of ASW and TITLE brands, has instilled confidence in both Thai and international customers regarding quality, allowing us to maintain strong sales and transfer levels across all projects. Additionally, enhancing our Recurring Income portfolio through expansion into new businesses will help drive ASW to achieve its sales and revenue targets for this year,” Mr. Kramchad stated.

AssetWise Public Company Limited (ASW) is engaged in real estate 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”. To date, the company has developed over 71 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, as well as brands under Rompho Property Public Company Limited (TITLE), a subsidiary, with a total project value exceeding 103.366 billion baht, comprising 53 completed and ready-to-move-in projects and 18 projects currently under development and for sale. As of Q3 2024, the company has a backlog valued at over 23.07 billion baht.