Mr. Sanphin Sookhee, Chief Executive Officer of Frasers Property Home (Thailand) Co., Ltd., shared an overview of the real estate business this year, anticipating signs of recovery, particularly in the condominium sector, which shows positive trends. Meanwhile, the landed property segment remains highly competitive. Key factors supporting business growth include the overall recovery of the Thai economy in 2023, bolstered by government economic measures, increased private sector investment, upcoming elections, and policies to reopen the country that are expected to bring back over 20 million foreign tourists this year. The tourism sector will be a crucial driver for the Thai economy, projected to grow by 3.0 - 3.5%, alongside the expansion of infrastructure nationwide, especially in major cities to accommodate the return of tourism, as well as the gradual return of foreign investors, leading to a revitalization of the Thai real estate market.

As for Frasers Property Home (Thailand), the business plan for 2023 aims for a significant transformation to strengthen all aspects of operations. The company targets a revenue recognition of 13 billion baht, a 14% increase from 2022, with over 39% of revenue expected from single-family homes. Additionally, the company 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. Six projects are set to launch in the first half of the year, with the remaining projects scheduled for the second half, all under the vision of 'Think New, Do New, Be New Always.'

For Frasers Property Home's strategy this year includes enhancing the proportion of single-family home developments across all segments, particularly in the luxury and super-luxury categories. The company aims to increase the share of luxury single-family home projects priced between 60-120 million baht across three main brands: The Royal Residence (a new brand), Alpina, and The GRAND. The focus will be on attracting new-generation families seeking functional living spaces that can be adapted to their lifestyles. A Big Campaign will be organized to boost sales throughout 2023, especially for townhomes, which will feature marketing campaigns and special promotions all year round.

Importantly, this year marks the first time that Frasers Property Home will enter the low-rise condominium market, recognizing the market opportunity as the post-COVID-19 situation improves. The condominium market is beginning to recover, particularly for low-rise condos priced at 3-5 million baht, focusing on locations near shopping malls and public transport. This year, the company plans to develop one low-rise condominium project in Ratchada Soi 7 under the brand name KLOS, targeting the new generation with lifestyle-oriented offerings. Additionally, Frasers Property Home is currently preparing to acquire a real estate business from another company, which is expected to generate immediate revenue and facilitate significant growth once the deal is finalized.