Sivaram Real Estate Public Company Limited “SVR” is confident that this year’s revenue is poised to set a new high, surpassing the 726.15 million baht recorded in 2022. This reflects the company's strength in quick turnover project development—fast construction, quick sales, and prompt delivery—along with premium economy value, aligning with future revenue growth towards a high growth level. The company is also counting down to the launch of Sivaram Village (located in Bang Kruai-Sai Noi), Sivaram Park (on Pracha Uthit Soi 76), and Sivaram Hyde (on the Kanchanaphisek Ring Road), with a total value exceeding 1.621 billion baht starting from Q3/2023.

Mr. Ronarit Thitisuriyarak, Executive Director and Senior Chief Financial Officer of Sivaram Real Estate Public Company Limited (“SVR”) revealed that the company's strengths in quick turnover project development—fast construction, quick sales, and prompt delivery—along with premium economy value, have positioned “SVR” as a leader in premium economy real estate development under the concept of “Best Smart Living,” the first of its kind in the country for the real demand group. The company aims for a significant growth rate this year, under the trend of setting a new high record compared to the 726.15 million baht revenue in 2022, reinforcing sustainable growth towards a high growth level in the future.

This growth is driven by the plan to launch 3 new projects worth a total of 1.621 billion baht:

1. Sivaram Village (located in Bang Kruai-Sai Noi) is a project of twin houses and townhouses comprising 242 units on an area of 24-3-39 rai, with a project value of 691 million baht and a selling price range of 2-3.5 million baht per unit. Pre-sales are expected to commence in Q3/2023, with revenue recognition anticipated in the latter half of 2023.

2. Sivaram Park (on Pracha Uthit Soi 76) is a project of single houses comprising 91 units on an area of approximately 22-3-78 rai, with a project value of 528 million baht and an estimated selling price of around 5 million baht per unit. This project is expected to open for pre-sales in Q3/2023, with revenue recognition starting in Q4/2023.

And 3. Sivaram Hyde (on the Kanchanaphisek Ring Road) is a project of single houses sized 100 square wah under the new brand “Sivaram Hyde,” comprising 29 units on an area of over 11-3-80.5 rai, with a project value of 401 million baht and an estimated selling price of around 12 million baht per unit. This project expands the segment for upper-class residents, targeting a new customer group for the company. It is expected to open for pre-sales by the end of Q4/2023, with revenue recognition starting from Q4/2023 onwards.

Thus, the launch of these 3 new projects will positively impact revenue, which will begin to flow in the latter half of the year immediately, as all of “SVR”’s projects are completed before sales, aligning with the quick turnover and quick sales policy for rapid revenue recognition. Meanwhile, the company also has ongoing projects generating revenue, such as Grand Sivaram (Sukhumvit-Bangpu), Sivaram Village (Sukhumvit-Bangpu 58), Sivaram Nature Plus (Assumption-Sriracha), and Sivaram Nature Plus 2 (Sukhumvit-Bangpu) coming in 2023. The revenue recognition from these projects will significantly enhance “SVR”’s growth rate.

“This year, SVR plans to expand project development closer to the CBD area of Bangkok, as the company aims to diversify its product portfolio. Additionally, it seeks to expand its customer base in the upper-class residential segment by developing premium projects at higher price points reaching up to 12 million baht, compared to previous projects priced below 7 million baht per unit. We believe that this customer segment has strong purchasing power, easy loan approvals, and low risk. Therefore, we are confident that the 3 projects set to launch in Q3 will meet the high demand from this customer group and significantly add value to the company.”