Kanda Property is pleased to announce that sales for 2022 exceeded the target of 3.3 billion baht, generating revenue of 2 billion baht. The 5 Kanda Concept aligns with consumer needs, and we are confident that real demand will continue to support the growth of the low-rise housing market. In 2023, we are set to launch 5 new projects worth a total of 5 billion baht.

Mr. Haskorn Boonyang, Deputy Managing Director of Kanda Property Co., Ltd. stated that the performance for 2022 was satisfactory, with total sales slightly exceeding the target of 3.3 billion baht. Revenue from transfers reached 2 billion baht, although it fell short of the 2.5 billion baht target. However, this revenue is comparable to 2021. This was partly due to the company launching only 2 new projects instead of the planned 5, due to construction delays during the rainy season. Additionally, we have revised the house designs in the new projects to maximize the utility of each function.

The new projects launched this year include the iLeaf Prime project in Lam Luk Ka, Klong 2, and the iLeaf Prime project in Pattaya-Najomtien, which are both located in new areas as part of the Kanda Change strategy. The company plans to expand into new locations with 1-2 projects each year, developing projects under the 5 Kanda Concept, which includes:

1. Multi Generation - Emphasizing the importance of Thai family living together.

2. Easy Maintenance - Designed for easy upkeep.

3. Eco Smart - Environmentally friendly.

4. Flood Protection - Flood prevention in every project.

5. Space Matter - Prioritizing the design of all usable spaces.

 

“This marks another success in our Kanda Change strategy and the 5 Kanda Concept applied to the redesign of homes and the development of new projects. A clear example is the iLeaf Prime project in Lam Luk Ka, Klong 2, which has adjusted the internal functions of the homes under the Space Matter concept, making the usable space of the townhome comparable to that of a single-family home, allowing full utilization of every area. We have also added a backyard garden to bring residents closer to nature, which has received positive feedback. The iLeaf Prime project in Lam Luk Ka, Klong 2 has already sold over 40 units worth more than 120 million baht just one month after its launch. Meanwhile, the iLeaf Prime project in Pattaya-Najomtien has sold 50 units worth 150 million baht,”

 

The low-rise housing market in 2022 was stable, without significant fluctuations, but there continues to be ongoing demand from actual residents. It is expected that the low-rise housing market in 2023 will remain stable, similar to 2022, despite opinions from various parties suggesting that the Thai economy may be affected by the global economic downturn. However, we believe that the demand for actual housing will help drive the low-rise housing market forward. Additionally, the announcement to reopen the country on January 8, 2023, will further invigorate the tourism sector, especially in tourist provinces such as Chonburi (Pattaya), Phuket, and Chiang Mai.

As for the business plan in 2023, the company will continue to implement the Kanda Change strategy and the 5 Kanda Concept, along with the launch of 5 new projects worth 5 billion baht. This includes 3 projects that were postponed from 2022 and 1 project in a new location. The company has allocated a budget of 1 billion baht to acquire additional land for project development in 2023-2024, which will result in a total of 17 projects under sale and new launches in 2023, valued at 11 billion baht. The sales target is set at 3.5 billion baht, representing a 10% growth, and the revenue target is 2.5 billion baht, or over 20% growth.