"Habitat Group" has unveiled its business plan for 2019, aiming to drive continuous growth by doubling its new project launches in Bangkok and Pattaya, with a total value exceeding 8 billion baht. This move defies the current real estate market trends, reaffirming confidence in the high-end condominium market in prime locations within Bangkok's CBD and Pattaya, where demand continues to grow. The company is also focused on strengthening its business by increasing its rental income portfolio and opening two new hotels, while expanding its international customer base into new markets such as Japan, Taiwan, Singapore, India, and the Middle East, moving beyond its previous focus on China and Hong Kong to diversify risk.

 

 

           Mr. Chanin Wanichwong, CEO of Habitat Group Co., Ltd., a leader in premium real estate development for investment in Thailand, stated that despite external factors such as global economic volatility, exchange rates, energy prices, the US-China trade war, political uncertainties, and rising interest rates leading many real estate developers to lower their targets and be cautious in land investments, Habitat Group remains confident in the purchasing power of its high-end customer segment.

 

           Thus, in 2019, the company aims to continue its growth trajectory with plans to launch five new projects worth over 8 billion baht, focusing on developing real estate in prime locations according to its business strategy, particularly in Bangkok's business zones (CBD) along the BTS lines, including Thonglor, Phrom Phong, and Asoke, as well as in central Pattaya. This year, the sales target is set at 3 billion baht, a 50% increase from the 2 billion baht sales achieved in 2018.

 

 

           "This year, the company remains committed to continuous growth according to the established plan, as evidenced by the investment in real estate development projects that will double both in number and investment value compared to 2018. At the same time, this year will also emphasize risk diversification by expanding the customer base to be more diverse and increasing the recurring income portfolio for the company," Mr. Chanin stated.

 

           The new project launches this year will include three projects in Bangkok under the "Walden" brand, featuring luxury low-rise condominiums in CBD locations, with a total value of approximately 3.5 billion baht, and two projects in Pattaya, which will be lifestyle investment projects that continue to attract world-class hotel brands for management, with a total project value of approximately 4.5 billion baht. The first project is located in North Pattaya, expected to officially launch for sale in the first quarter of 2019, while the other project is a beachfront condominium in Na Jomtien on an 8-rai plot, currently in the design phase and expected to launch in mid-2019. For the Pattaya market, larger projects with more units will be developed to meet the ongoing demand, and last year, Habitat successfully completed sales of its projects in Pattaya.

 

 

           Overall, the high-end condominium market continues to show strong growth and remains highly sought after by both local buyers and foreign investors, particularly in areas with limited development potential but high demand, aligning with the company's strategy to focus on developing projects in prime locations, such as in Bangkok near BTS stations, allowing for competitive pricing that appeals to target customers, as well as in Pattaya, which is experiencing good growth due to tourism trends and the Eastern Economic Corridor (EEC) development projects.

 

           "These factors enable Habitat Group to proceed with its growth plans by doubling its investment in real estate projects, and we foresee positive growth in the Thai real estate market this year, supported by ongoing government infrastructure development projects, along with increased private sector investments, especially in the EEC area. However, the company's products must remain competitive, with a focus on distinctive design to differentiate from market competitors," Mr. Chanin concluded.

 

 

           Mr. Chanin further stated that regarding risk diversification in business operations, Habitat Group aims to expand its target customer base to be more diverse by seeking opportunities in new markets beyond its existing customer groups from Thailand, China, and Hong Kong. The company plans to penetrate new markets such as the Middle East and other Asian countries like Japan, Taiwan, Singapore, and India. Last year, the company achieved sales of 600 million baht from foreign buyers, accounting for 30% of total sales, and expects this figure to grow to 40% of total sales.

 

           Additionally, in 2019, the company aims to increase its recurring income portfolio from the current 10% to 30% within three years to create revenue stability and strengthen the business. Currently, it operates two hotels in Pattaya: The Ville Jomtien and X2 Vibe Pattaya Sephere, managed by its subsidiary, Habitat Hospitality. This year, the company will also launch two more hotels in Pattaya: X2 Pattaya Oceanphere, set to open in the second quarter, and Best Western Premier Bayphere Pattaya, scheduled for the third quarter of this year.

 

           "The key to stable and strong growth lies in effective risk management, where all decisions are based on data and made within our areas of expertise. The increased number of project launches this year underscores another significant step in Habitat Group's growth," Mr. Chanin concluded.

 

Thank you for the information from www.habitatgroup.co.th