Frasers Property (Thailand) Public Company Limited, or “FPT”, a leading comprehensive real estate service provider in Thailand, announced its performance results for the year 2021 (January - December 2021) with total revenue of 15,613 million baht and a net profit of 1,869 million baht. Despite the ongoing challenges posed by the COVID-19 pandemic, particularly towards the end of the year due to the Omicron variant outbreak, which impacted the recovery of the business sector, the company expects an improved economic outlook in 2022. FPT has prepared proactive plans to drive the organization forward robustly under the One Platform strategy, aiming to expand its customer base in the residential, industrial, and commercial real estate sectors.

Mr. Thanapol Sirithanachai, Chief Executive Officer (Country CEO) of Frasers Property (Thailand) Public Company Limited, stated, “In 2021, the company faced various challenges, but FPT was able to navigate through these situations steadily and strongly, reflecting the potential of our comprehensive real estate platform and effective proactive operational strategies along with cost control, enabling us to achieve our performance targets amidst uncertainty and an economic slowdown. Last year, the company continued to prioritize employee health and safety while focusing on personnel development to enhance capabilities and prepare the organization for market recovery opportunities, which show positive trends in this new year.”

Overall, in 2021, FPT maintained its ability to cope with uncertainties and economic challenges from the COVID-19 situation effectively. In the latest quarter (October-December 2021), the company reported total revenue of 4,043 million baht, an increase of 17.4%, and a net profit of 749 million baht, up 396% compared to the previous quarter, which included profit recognition from the redemption of investment units in joint ventures amounting to 381 million baht, resulting in total revenue for the 12 months (January-December 2021) of 15,613 million baht and a net profit of 1,869 million baht.

Additionally, the company significantly reduced costs and total expenses, combined with the ability to synergize among its three real estate business segments (Synergy) and diversify risks (Diversified) through its comprehensive real estate platform, allowing the company to generate continuous cash flow and maintain a strong financial position.

The severe and prolonged COVID-19 outbreak, particularly the rapidly spreading Omicron variant during the last quarter of the previous year (October-December 2021), hindered full-scale sales and marketing activities. Furthermore, high household debt levels affected loan rejection rates and customers' home-buying decisions. In the past 12 months (January-December 2021), the “Frasers Property Home” business segment recorded total revenue of 11,117 million baht by adjusting its online marketing strategy and developing single-family and twin houses that are in demand, enabling it to expand its target customer base among middle to upper-income groups.

The “Frasers Property Industrial” and “Frasers Property Commercial” segments generated consistent revenue streams for the company, recording revenue of 2,178 million baht in 2021 (January-December). The factory and warehouse businesses maintained a high occupancy rate of 86%, with continuous demand for rental space driven by the growth of the e-commerce and electronics sectors. Additionally, the focus on logistics risk diversification and the relocation of production bases to Thailand, along with the COVID-19 situation, has led to a growing demand for short-term warehouse rental space. The office leasing business also maintained a high occupancy rate of over 90%, emphasizing flexible lease management strategies and providing high-quality Grade A office spaces in prime business districts.

“For 2022, FPT will continue to move towards becoming the leading comprehensive real estate brand in the country, alongside developing innovative products and services that meet the ever-changing needs of customers. This year, the company is prepared to drive growth by expanding its customer base across all business segments,” Mr. Thanapol added.

Comparison Table of Financial Performance for the 12-Month Period (January – December)



Financial Performance for Calendar Quarter 4/2021 (October – December 2021)