Frasers Property (Thailand) Public Company Limited (FPT), a leading comprehensive real estate service provider in Thailand, announced its first half financial results (January-June 2022) totaling 7.788 billion baht, which aligns with the company's targets and reflects the success of its proactive business strategy implementation across all business segments, including residential real estate, industrial, and commercial sectors. Additionally, the company benefited from the recovery of the domestic economy, resulting in growth across all dimensions.

Mr. Thanapol Sirithanachai, Chief Executive Officer (Country CEO) of Frasers Property (Thailand) Public Company Limited, stated, "The performance over the past 6 months (January-June 2022) is satisfactory and in line with our plans. The last quarter marked a period when FPT began to reap the rewards of our efforts to adapt to the economic situation through a proactive market strategy and an increase in new customer segments. FPT will continue to focus on developing innovative products and services to deliver experiences that meet the ever-changing needs of customers while strengthening the brand 'Frasers Property Thailand' to be a top choice for clients."


Mr. Thanapol Sirithanachai, Chief Executive Officer (Country CEO) of Frasers Property (Thailand) Public Company Limited

In the overall calendar of the second quarter of 2022, the company issued bonds worth 3 billion baht, which attracted significant interest from high net worth individuals and cooperatives, reflecting confidence in the potential of the comprehensive real estate platform and FPT's past performance. The funds raised will be used to repay loans, expand business, and for working capital in 2022.

By adjusting its business strategy to generate revenue through new product offerings that better meet customer needs, the company achieved total revenue of 4.374 billion baht in the 3-month period (April-June 2022), with a net profit of 680 million baht, and total revenue for the 6-month period (January-June 2022) reached 7.788 billion baht, with a net profit of 991 million baht, achieving a gross profit margin increase of 6% compared to the same quarter last year.

With the adjusted strategy of the residential real estate segment, Frasers Property Home is advancing the development of more single-family home projects to expand its high purchasing power customer segment. In the first half of the year (January-June), Frasers Property Home has launched over 6 projects priced between 2-35 million baht out of a total of 18 projects, amounting to a total value of 20 billion baht. For the second half of 2022 (July-December), the company plans to launch an additional 12 projects including single-family homes, duplexes, townhomes, and projects in provincial areas.

The Frasers Property Industrial and Frasers Property Commercial segments generated steady revenue for the company, recording 597 million baht in the first half (January-June 2022). The factory and warehouse business maintained a high occupancy rate of 85.4%, benefiting from a slowdown in exports that increased demand for short-term warehouse rentals, which is expected to continue until the end of 2022. In the last quarter, Frasers Property Industrial increased its investment stake as a major shareholder in modern warehouse projects in Indonesia, located in Karawang, Makassar, and Banjarmasin, expanding its overseas portfolio by over 150,000 square meters. The overall industrial real estate portfolio managed by the company has now grown to 3.25 million square meters. Additionally, the company has been gradually selling assets to the FTREIT, resulting in special income of 622 million baht in the latest quarter.

In the commercial real estate sector, the company has maintained a high occupancy rate, with office buildings retaining over 90% occupancy. The focus is on providing a new service model, Core & Flex, which combines standard and flexible office space to comprehensively meet tenant needs. For the two projects currently under development, the company has made progress on the mixed-use project Silom Edge, which is set to open for the first time in September 2022, coinciding with the handover of the Queen Sirikit National Convention Center to NCC Management and Development Co., Ltd. Furthermore, the reopening of the country has driven increased consumer spending, revitalizing the 'Samyan Mitrtown' shopping center and improving the hotel business.

Comparison Table of Financial Performance for the 6-Month Period (January – June)

Financial Performance for the Calendar Quarter 2/2022 (April – June 2022)