The Property Perfect Group and Grand Asset reveal plans to reduce debt and strengthen financial stability, aiming to cut debt by 8 billion baht in 2024 and an additional 8 billion baht in 2025, resulting in the lowest debt-to-equity ratio in a decade and saving 1 billion baht in interest expenses. They are also accelerating revenue generation from joint venture projects, preparing to recover an investment of 4 billion baht within 2 years. For 2025, they plan to collaborate with new partners to invest further in the real estate business.

Mr. Sanit Atthayanasukul, CEO of Property Perfect Public Company Limited, stated that the Property Perfect Group (PF) and Grand Asset Hotels and Property (GRAND) aim to strengthen their financial structure by reducing debt, increasing liquidity, and boosting sales, revenue, and profits. Despite ongoing challenges in the real estate sector, enhancing financial strength is crucial for sustainable growth and maximizing business potential.

“The group plans to reduce total debt by 16 billion baht, having already cut 8 billion baht this year through the sale of the Hyatt Regency Sukhumvit hotel and bond repayments. By 2025, we aim to further reduce debt by another 8 billion baht, with 3 billion baht from Property Perfect and 5 billion baht from Grand Asset, through land sales, joint venture investments, and bond repayments. This debt reduction plan will save us 1 billion baht in interest expenses, significantly lowering costs and increasing profits due to reduced interest payments, while enhancing financial liquidity. Importantly, this will bring the group's debt-to-equity ratio below 1, the lowest level in a decade.”

Additionally, they will accelerate revenue generation from joint venture projects, having started collaborations with three leading international partners since 2018, successfully differentiating their residential market with international standards. In 2025-2026, the group expects to recover 4 billion baht in investments and shareholder loans from joint ventures, enhancing liquidity and cash flow.

Currently, the group is developing joint venture projects in both horizontal and condominium formats, with a total project value of 27.95 billion baht, including a joint venture with “Sumitomo Forestry, a leader in forestry and home construction from Japan, for the high-end condominium project “Hyde Heritage Thonglor” valued at 6.2 billion baht, expected to close sales in 2026, and the single-family home project “Lake Forest Ratchaphruek New Cut” valued at 4.45 billion baht. They also collaborate with “Hongkong Land”, a global real estate developer, on the “Lake Legend” luxury homes project by the lake in two locations: Chaeng Watthana and Bangna-Suvarnabhumi, with a total value of 13.87 billion baht. Furthermore, they are working with “Sekisui Chemical”, a leader in the Japanese homebuilding market, to develop innovative homes using modular construction systems in the Perfect Masterpiece project across five locations: Krungthep Kreetha, Ramkhamhaeng, Sukhumvit, Rattanathibet, and Chaeng Watthana, with a total value of 3.43 billion baht, expected to close sales across all five locations by mid-next year.

Looking ahead to 2025, the group is confident in the potential and opportunities for business expansion, driven by new project launches and increased sales from luxury projects in Bangkok and other provinces. The company also plans to develop projects under a new concept to attract high-end customers and will collaborate with new partners to invest further in the real estate business, enhancing competitiveness and creating added value for the business.