ESTAR has unveiled its business plan for the Year of the Tiger, launching 4 new projects worth 3 billion baht. This includes 2 condominium projects in central Bangkok and 2 detached house projects in Rayong province. The company emphasizes the concept of Smart Living 360, offering comprehensive solutions with flexible spaces and fully functional amenities that cater to the New Normal lifestyle at affordable prices. They are also preparing to develop mixed-use community malls to enhance long-term revenue and strengthen their position.

Dr. Torsak Lertsrisakulrat, Managing Director of Eastern Star Real Estate Public Company Limited (ESTAR), revealed that due to the COVID-19 pandemic over the past two years, the company has adjusted its sales and marketing strategies through various online media channels. They have accelerated revenue recognition from sales and transfers of completed projects and have shifted focus to the low-rise market. They recently launched a new project called Velana Amoda in U-Tapao-Ban Chang, Rayong, featuring detached houses priced between 4.5 to 6.5 million baht on a 27-rai plot with 104 units, totaling 540 million baht. This led to the company's performance in 2021, achieving sales of 1.334 billion baht and revenue of 1.326 billion baht, with a net profit of 19 million baht.

 

“The real estate market in 2022 still faces negative factors, including a new wave of COVID-19 and the impact of a slowing economy affecting customers' income and purchasing power. High household debt levels and an increase in non-performing loans (NPLs) have led to tighter lending practices, while construction material prices have risen. Additionally, foreign investor purchasing power has yet to return. However, there are positive factors from government policies aimed at stimulating the real estate market, such as easing LTV measures and reducing transfer and mortgage fees. The decrease in unsold homes due to the slowdown in new project launches last year also contributes to this. We believe that genuine purchasing power for housing still exists in the market for low to mid-range houses and condominiums,” Dr. Torsak stated.

In 2022, the company aims to enhance residents' happiness under the concept of Smart Living 360, focusing on 4 key pillars that ensure comprehensive, cost-effective solutions for both room functionality and common areas that support New Normal lifestyles:

  • CREATIVE DESIGN that not only ensures beautiful building and room designs with complete functionalities but also maximizes the use of every square inch, allowing flexible space adjustments according to residents' lifestyles.
  • BALANCING LIFE to make every day a relaxing day, emphasizing practical designs for common areas that can accommodate social distancing, including activity spaces like studio kitchens or workshop areas to support modern lifestyles, along with health-focused amenities such as shower systems and massage jacuzzis for relaxation, and oversized exercise areas like running tracks around golf courses and multipurpose sports fields.
  • ENVIRONMENT FRIENDLY by considering environmental impacts, utilizing clean energy in projects, such as EV charging stations, car-sharing systems, and solar cells around golf course areas.
  • LIVING INNOVATION enhancing comfortable living with safety innovations, such as digital home entry systems, intrusion detection, surveillance cameras, and conveniences like automated lighting and ventilation systems.

 

In 2022, the company plans to launch 4 new projects with a total value of over 3 billion baht, targeting sales and revenue of approximately 1.7 billion baht. This includes 2 condominium projects under the brand “Quintara Lite,” a new series of affordable condominiums starting at under 2 million baht, located in central areas like Ratchada and Sukhumvit, incorporating the Smart Living 360 concept, such as room designs that fit urban lifestyles (Creative Design) and maximizing every square inch of space, with common areas that support New Normal lifestyles including pocket seats, kitchen studios, workshop spaces, and private classrooms (Balancing Life), along with EV charging stations (Environment Friendly), etc.

In Rayong province, two detached house projects will be launched, starting at under 3 million baht in the Eastern Star Foresto Project, Ban Chang, Rayong, which will comprise over 1,000 residential units in a location connecting Sukhumvit and Burapha Phatthana, maintaining a green environment with trees and common areas. The sales launch is planned for mid to late year, featuring beautiful house designs and flexible space usage according to preferred lifestyles (Creative Design), a NEIGHBORHOOD MALL at the project's front, a three-tier security system (Balancing Life), and plans to incorporate solar cells around the golf course (Environment Friendly). Additionally, there are plans to develop a mixed-use community in the Eastern Star Park area, including a golf course, hotel, residential homes, and a health center to provide comprehensive services that meet the growing consumer focus on health.

 

Dr. Torsak further stated that our houses and condominiums not only come at affordable prices suitable for the current situation but also encompass thoughtful designs for both the living spaces and the utilization of common areas according to modern lifestyles, under the concepts of Touchless & Distancing and Work from Home, allowing more time spent at home with family, balanced by green common areas and enhanced services through retail and various innovations that improve living experiences.

“We are focused on the lifestyle of the new generation, who are smart thinkers, enjoy convenient living, have distinct lifestyles, yet care about health and the environment. Therefore, we have integrated the behaviors of modern living into our designs, addressing the need for privacy, convenient transportation, and amenities that meet their needs while fostering a connection with nature, which is the essence of Smart Living 360,” Dr. Torsak concluded.