Mr. Narit Chayaklin, CEO of Singha Estate Public Company Limited stated that the company's 5-year business plan (2020-2024) includes ongoing investment plans, with a budget of 68 billion baht. This investment will cover 30 residential projects valued at 37.5 billion baht, 4 commercial projects or office buildings for rent valued at 8.5 billion baht, and hotel projects valued at 22 billion baht.

        The residential sector plans to launch 6 new projects this year valued at 10 billion baht, along with the introduction of 5 new brands, including 2 high-rise and 3 low-rise brands, to expand the market to cover the mid to upper segments with an average price of 200,000 baht/sq.m., which is experiencing good growth. It is expected that by the end of the year, one condominium project will be launched, while 2-3 low-rise projects will also be introduced. Currently, there is a backlog to be transferred in 2020 worth over 6 billion baht, with a sales target of over 8 billion baht, some of which can be sold and transferred this year. The company aims for revenue of 15 billion baht in the next 5 years.

 

 

        The office rental business recently acquired the Metropolis building with an investment of 1.725 billion baht, offering 14,000 sq.m. of rental space. The company currently owns 3 office buildings: Sun Towers, Singha Complex, and Metropolis, with a total area of over 140,000 sq.m. and an occupancy rate of over 90%. Within 5 years, the goal is to have 300,000 sq.m. of commercial space, with a planned investment of 8.5 billion baht to acquire 4 more projects, including the development of the SO Oasis project, which is under construction and expected to be completed by 2021.

 

 

        For the hotel business, the business plan aims to double the number of hotels from 39 to 80 by 2025, growing at a rate of 15% per year under Singha Hotel and Resort Public Company Limited (SHR). Last year, the company launched the Crossroads project in the Maldives, valued at over 10 billion baht, and this year the project is expected to generate full-year revenue, targeting over 2 billion baht. Revenue from this project will be crucial for significant growth for SHR. Additionally, SHR has prepared a 5-year investment budget of 22 billion baht to acquire 41 more hotels and resorts, focusing on investment in key tourist areas such as the Asia-Pacific and Mediterranean regions.

     

        The company also plans to expand its business by starting to develop a new sector in renewable energy, which is expected to commence in 2020, to meet global market demands and promote environmental sustainability, thus creating sustainable growth as a Global Holding Company.

          From the 5-year business plan, the company expects total revenue of 30 billion baht, with revenue contributions from the residential sector at 50%, office rental sector at 15%, and hotel sector at 35%.

          For 2020, the company aims for total revenue of approximately 20 billion baht, with revenue from the residential sector estimated at 9-12 billion baht, office rental sector at around 1 billion baht, and hotel sector at approximately 6.5-7 billion baht.

 

Information from Singha Estate