• AssetWise (ASW) has set a new record with accumulated sales of 17.874 billion baht over 11 months, surpassing the target for 2024, thanks to three highlighted projects: THE TITLE CIELO RAWAI, Aquarous Jomtien Pattaya, and KAVALON, which received positive responses and boosted new sales.
  • Emphasizing strengths in facing challenges in the real estate market by diversifying products, brands, and locations instead of relying on a single market.
  • Confident that measures to reduce transfer and mortgage fees in the final quarter will stimulate transfers of ready-to-move-in condos and homes, ensuring the company achieves its revenue target of 8.7 billion baht.

ASW has broken sales records, achieving a new high with 11-month pre-sales of 17.874 billion baht, following the successful launch of three highlighted projects in Phuket and Pattaya. The strong response has driven sales up, showcasing the company's resilience in the real estate market by diversifying products, brands, and locations. The anticipated benefits from the measures to reduce transfer and mortgage fees are expected to stimulate transfers of ready-to-move-in projects priced below 7 million baht. ASW is confident that it will meet its revenue target of 8.7 billion baht for 2024.

Mr. Kramchad Wiphanpong, CEO of AssetWise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that during the first 11 months of 2024 (January-November), the company achieved accumulated sales of 17.874 billion baht, marking a new sales record and exceeding the target for 2024.

The projects that have significantly contributed to sales in the second half of the year and will be key drivers in the final quarter of 2024 include: 1. THE TITLE CIELO RAWAI, a leisure condominium project valued at 1.2 billion baht developed by Rompho Property Co., Ltd. (TITLE), which achieved 90% sales within just one week of launch; 2. Aquarous Jomtien Pattaya, a luxurious staycation residence condominium project near Jomtien Beach valued at 5 billion baht; and 3. KAVALON, the latest campus condominium project adjacent to Bangkok University valued at 4.5 billion baht, which has received positive feedback from both residents and investors.

“2024 is a year where the Thai real estate market faces various challenges. ASW has prioritized risk diversification, not relying on a single market by 1. Diversifying products to develop residential projects across multiple segments to meet the needs of consumers from all generations; 2. Diversifying brands by building on established brands like KAVE campus condominiums and creating new brands to reflect different concepts in each project, such as Aquarous for beachside condos or CHANN for riverside vacation homes; and 3. Diversifying locations by developing residential projects in Bangkok and its vicinity and expanding to tourist cities following the recovery of Thai tourism, particularly in Phuket, where our THE TITLE brand plays a crucial role in driving sales and revenue for the company this year,” Mr. Kramchad stated.

Mr. Kramchad further mentioned that in the final month of 2024, the government's real estate market stimulus measures, which are set to expire by the end of the year, such as reducing property transfer registration fees from 2% to 0.01% and mortgage registration fees from 1% to 0.01% for transactions and appraised values not exceeding 7 million baht, will encourage consumers looking for housing to make quicker purchasing and ownership decisions. This will positively impact the overall market and help the company achieve its revenue target of 8.7 billion baht in the final quarter.

“Currently, the company has accumulated revenue of over 7.8 billion baht in the first nine months, which accounts for 90% of the annual revenue target for 2024. We are confident that with the potential of the locations, the quality of the projects, our risk diversification strategy, and various measures, ASW will definitely achieve the targets we have set,” Mr. Kramchad concluded.

ASW has expanded its plan to launch new projects in 2024 to 13 projects, with a total value of 36.86 billion baht, representing a 42% increase compared to the initial plan announced earlier this year and a 22% increase from the previous year. The backlog at the end of Q3 2024 is approximately 23.07 billion baht, which is expected to gradually recognize revenue until 2026.

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 its 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 Co., Ltd. (TITLE), a subsidiary of the company, 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 total backlog is valued at over 23.07 billion baht.