ASW reaffirms its strength with 9-month sales of 17.474 billion baht as new projects generate positive momentum, pushing accumulated sales to 90% of the annual pre-sale target. The new condominium project in Bang Tao, “ViVi”, sold out immediately on its first day of sales. The real estate market outlook for the end of the year is optimistic due to lower interest rates and positive signals from tourism, with Phuket remaining a favorite destination worldwide. ASW is preparing to develop “THE TITLE Balcony” in Nai Yang, a new Leisure Condominium project to meet international demand, while also planning to launch additional projects in Phuket to accelerate market penetration as the year ends, confident in achieving the sales target of 19.5 billion baht.

Mr. Kram Chatchai, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of “Happiness Designed for You” or “We Build Happiness,” stated that ASW has consistently maintained sales growth. In the first 9 months (January-September 2023), the company achieved pre-sales of 17.474 billion baht, accounting for 90% of the annual target of 19.5 billion baht, representing a 20% increase from the same period last year. Notable projects contributing to sales include the newly launched KAVE Ally Chaengwattana, a campus condominium opposite Phranakhon Rajabhat University, near two BTS lines, valued at 1 billion baht, catering to students, workers, and investors.

Additionally, the Leisure Residences project in the tourist city of Phuket, developed by Rompho Property Public Company Limited or TITLE, a subsidiary, has received excellent feedback in line with the recovery of Thai tourism. The THE TITLE Villa Kirara, a flagship luxury villa project within the mixed-use development “The TITLE Park” in Bang Tao-Cherng Talay, valued at 1.5 billion baht, launched in August, has also seen strong demand. Recently, THE TITLE confirmed its success in developing projects in Bang Tao by launching a new condominium brand with the project “ViVi”, a stylish condominium valued at 700 million baht, located just 700 meters from Bang Tao Beach. This project targets a new segment with affordable prices starting from just over 3 million baht, aiming to reach a broader customer base. Launched in late September, it received overwhelming responses from customers and agents, selling out on the first day, reflecting the confidence of international customers in the company's brand.

Mr. Kram added that in the final quarter, attention must be paid to the direction of economic stimulus policies from the new government. Although the real estate market faces challenges regarding purchasing power, it is supported by a reduction in the policy interest rate from 1.75% to 1.50% per annum, which will positively impact housing loan approvals. Meanwhile, tourism continues to show positive signals, especially in Phuket. The Tourism Authority of Thailand's Phuket Office reported that in the first seven months of this year, the number of tourists reached over 5.58 million, close to last year's figures, with major tourists coming from Russia, China, and India. Additionally, the Phuket Tourism Business Association predicts that tourism revenue for the entire year could reach 550 billion baht, growing by about 10% from last year, reaffirming that Phuket remains a popular destination for people worldwide.

For ASW's operations in the final stretch of the year, the company aims to drive business by focusing on controlling and managing expenses at appropriate levels, managing ready-to-move-in project portfolios, and proceeding with the launch of new projects as planned for 2023, totaling 10 projects valued at 22 billion baht, strategically located in Bangkok and surrounding areas as well as Phuket, which has high demand from international customers with strong purchasing power seeking long-term residences, as well as short-term tourists expected to enter the country during the high season from Q4 2023 to Q1 2024. The company is preparing to launch THE TITLE Balcony Naiyang, a Leisure Condominium project valued at 3.8 billion baht, as another highlight project to drive sales at the end of this year, along with plans to launch a new project near Kamala Beach, known for its relaxing atmosphere suitable for families and those looking to escape the hustle and bustle, which is also a popular location among international tourists, luxury resorts, and high-end villas, thus catering to both residential and investment needs. More details will be available soon.

“The final quarter of the year is a crucial time for the real estate market, where operators will launch campaigns to stimulate sales and attract consumers considering purchasing new residences. It is also the high season with a significant influx of international tourists. ASW is preparing both ready-to-move-in projects and launching new projects in strategic locations to meet the demands of Thai and foreign customers, including considering launching new projects in Phuket beyond the planned ones, as the Leisure Residences in Phuket have consistently received positive responses since the beginning of the year. We are confident that Phuket will be another key driver to help ASW achieve its annual sales target of 19.5 billion baht,” Mr. Kram concluded.

Asset Wise Public Company Limited (ASW) is engaged in real estate development, focusing on high-rise and low-rise residential projects in strategic locations under the concept of “Happiness Designed for You” or “We Build Happiness.” The company has developed over 80 projects of condominiums and housing estates under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and brands under Rompho Property Public Company Limited or “TITLE,” a subsidiary, with a total project value exceeding 132.851 billion baht, comprising 25 completed and ready-to-move-in projects and 19 projects currently on sale and under development. As of the end of Q2 2023, the backlog value amounted to over 32.779 billion baht.