Frasers Property Home (Thailand) anticipates a continuous recovery in the real estate sector for 2023, launching a full-scale offensive with plans to introduce 11 new projects totaling over 17.5 billion baht. The strategy focuses on "strengthening existing waters while growing in new arenas", expanding the portfolio of horizontal projects across all segments throughout the city to meet the growing demand for single-family homes. The aim is to target customers with stable incomes in rapidly developing provinces and job centers, complemented by plans to develop Low Rise condos in prime urban locations. Additionally, a new luxury single-family home brand will be introduced, with a revenue recognition target of 13 billion baht by the end of 2023, reflecting a 14% growth from 2022.

Mr. Sanphin Sukhi, CEO of Frasers Property Home (Thailand) Co., Ltd., assessed the overall Thai economy for 2023, indicating a trend of continuous recovery supported by government economic measures, increased private investment, upcoming elections, and policies to reopen the country, which are expected to bring back over 20 million international tourists in 2023. The tourism sector will be a key driver for the Thai economy, projected to grow by 3.0 - 3.5%, alongside the expansion of infrastructure nationwide, particularly in major cities to accommodate the return of tourism and the influx of foreign investors, revitalizing the Thai real estate market.

“For 2023, the company aims for a revenue recognition target of 13 billion baht, a 14% increase from 2022, with plans to launch 11 new projects worth over 17.5 billion baht, including 7 single-family home projects, 2 townhome projects, 1 duplex project, and 1 condominium project. The company is undertaking a significant transformation plan to create substantial changes in business operations, aiming for strength in all aspects under the vision of "Think New, Do New, Always New" to generate returns on steadily growing revenue through two key drivers: strengthening existing waters by developing projects that meet the needs of target customer groups with quality and innovative products to enhance quality of life and sustainable living, and growing in new arenas by creating new opportunities to maintain business growth rates and comprehensively meet the housing needs of buyers, providing a unique living experience,” Mr. Sanphin stated.

The four strategies for strengthening existing waters and growing in new arenas include:

  1. Plans to launch housing projects at all price levels, with a focus on increasing the proportion of single-family home developments across all segments, especially luxury single-family homes, targeting customers with stable incomes in rapidly developing provinces and job centers. The company will offer quality and innovative products that reflect personal style and adapt functionality to customer behavior while maintaining market leadership in townhomes by developing quality projects in high-potential locations with features that resonate with customers, as well as developing duplex homes that emphasize design and functionality comparable to single-family homes, focusing on locations near cities and amenities at accessible prices.
  2. Launching a Big Campaign to stimulate sales throughout 2023, planning marketing campaigns and special promotions all year round to encourage consumer purchasing decisions while enhancing brand awareness and recognition.
  3. Entering the Low Rise condo market, recognizing market opportunities as the COVID-19 situation eases and the condominium market begins to recover, particularly for Low Rise projects priced between 3-5 million baht, which saw the highest demand in 2022, while available inventory in the market is insufficient to meet the rising demand. The company plans to develop Low Rise condos in urban locations near public transport under a new brand, set to launch soon.
  4. Expanding the portfolio of luxury and super-luxury single-family home projects, increasing the proportion of luxury single-family home developments priced between 60-120 million baht across three main brands: The Royal Residence (a new brand), Alpina, and The GRAND, targeting modern families seeking living spaces that meet their needs and can be adapted to their lifestyle.