Venture Global Holding Co., Ltd. (VGH) highlights that "The Centro Condo" has achieved impressive sales with completed units ready for transfer in June 2023, totaling 304 units valued at 500 million baht. The company is moving forward with new projects in the Amata-Panthong area and several other new developments, both land and condo, aiming to boost performance to over 1 billion baht. They are confident in becoming a publicly listed company on the stock exchange within 5 years.

Mr. Pirapol Rangsimanurak, CEO of Venture Global Holding Co., Ltd. (VGH), stated that the overall real estate market shows positive signs. Two main factors contribute to this outlook: 1. The COVID-19 situation is improving and is expected to return to normal by 2023, leading to economic recovery in manufacturing, tourism, and exports that were previously stalled. 2. The ongoing large-scale government investments in the Eastern Economic Corridor (EEC) are continuously improving, presenting a great opportunity for real estate businesses. It is anticipated that foreign investors will show interest, which will increase purchasing power and housing demand in the EEC, with an expected annual population increase of about 100,000 people.

The company's plan is to continuously expand projects, both land and high-rise, by 1-3 projects per year, aiming to enter the stock market within 5 years. The company's strength lies in its strong capital, having partnered with a Singaporean firm in real estate, along with a professional team with extensive industry experience, ensuring stable and sustainable development. The management vision emphasizes that the real estate sector has moved beyond traditional methods and that adaptability and innovative thinking are crucial for sustainable growth in the current environment.

Mr. Jakkrapan Bumpenkietkul, COO of Venture Global Holding Co., Ltd. (VGH), mentioned that in the past six months, the real estate market in the eastern region, particularly Bangsaen, continues to show strong housing demand with a clear upward trend, evidenced by the successful sales of The Centro Condo project, which was completed and ready for transfer ahead of schedule. The project consists of 2 buildings with 304 units, valued at 500 million baht.

“The company has achieved its sales targets, closing sales for The Centro Condo faster than expected, even as the economy begins to recover. This success stems from thorough market research, strategic location selection, and well-planned project designs that meet the needs of target groups for both living and investment,” said Mr. Jakkrapan.

The standout feature of The Centro Condo is its prime location adjacent to Park In Market and close to key educational institutions in the eastern region, such as Burapha University. The area is surrounded by residential, educational, and employment opportunities, making it a vibrant community. Additionally, the project boasts a design that harmonizes modernity with nature, focusing on energy efficiency, particularly with the innovative Dual Key Concept, which is popular internationally. This design resembles two bedrooms with separate entrances, allowing for distinct living spaces.

“The Dual Key Concept is designed for larger families or investors who can rent out two rooms while holding a single title deed. It also allows for flexible use of space for living and working, which has been well-received in the market. The project has reserved only 7 units in this format for booking once the building is completed, allowing customers to see the actual rooms and views before making a decision,” Mr. Jakkrapan added.

With the successful sales and closure of The Centro Condo, this marks an important first step for the company in developing new residential projects that cater to modern lifestyles in the Amata-Panthong area and future developments in the Eastern Economic Corridor (EEC).

Mr. Jakkrapan stated that the company is preparing to acquire more land for continuous new project development in the EEC, where signs of economic recovery are evident. This area has significant potential for future economic growth. The new projects will include both land and condos to ensure sustainable income continuity, with revenue targets of 350 million baht in 2022, 450 million baht in 2023, 500 million baht in 2024, and 1 billion baht in 2025, aiming for a public listing within 5 years.

“The success of The Centro Condo project will lead to new developments that the company is preparing to launch, including twin houses and single houses in the Amata Nakorn area, which are currently in the design phase and expected to be launched in early 2023, along with plans for 2-3 additional projects in the EEC in the future,” Mr. Jakkrapan concluded.