Mr. Khajornsit Singserm, CEO of Siamese Asset Public Company Limited (SA) stated that the business plan for the next three years (2023-2025) will focus on balancing revenue from property sales and income from related businesses to reduce risk and ensure stable growth. The target is to achieve at least 10 billion baht in revenue from property sales, split evenly between horizontal and vertical projects, alongside approximately 1.7 billion baht from other related businesses. It is anticipated that within three years, recurring income will account for about 10-15% of total revenue.

This year, the company expects to generate around 1 billion baht in profit, with revenue recognition from the real estate sector projected at 5.9 billion baht. This includes ready-to-sell products from vertical projects worth 2,407.22 million baht and horizontal projects worth approximately 86.90 million baht. Currently, the company has 8 completed projects (under transfer of ownership) valued at 20 billion baht, and 5 ongoing projects worth 19.5 billion baht. The backlog of sales awaiting transfer is valued at over 6,506.6 million baht, which will gradually be recognized until 2025.

In 2023, the company plans to launch 7 new projects valued at 18.2 billion baht, including 4 new horizontal projects totaling 7 billion baht, which consist of:

1) Siamese Kin Ram Inthra (Phase 2) developed as twin houses and townhomes, totaling 36 units priced between 6-10 million baht, with a project value of approximately 250 million baht.

2) Siamese Holm Phaholyothin-Vibhavadi developed as single-family homes priced between 8-12 million baht, totaling 192 units, with a project value of approximately 1.7 billion baht.

3) Siamese Blossom Phaholyothin-Vibhavadi developed as twin houses and townhomes priced between 2-5 million baht, totaling 445 units, with a project value of approximately 1.7 billion baht.

4) Monsane Ratchaphruek Chaeng Watthana developed as luxury single-family homes priced between 15-25 million baht, totaling 175 units, with a project value of approximately 3.3 billion baht.

For the vertical projects, the focus will be on developing 3 mixed-use projects in prime urban locations, incorporating commercial rental spaces and accommodations in the form of hotels or serviced residences to diversify income sources. Plans include launching the Wellness & Healthcare project in Talingchan and two other projects with a total project value of approximately 11.4 billion baht.

Regarding other businesses, such as the hotel sector, the Tribe hotel in the Sukhumvit area is set to open this year. The food and beverage business will launch at the Landmark @MRTA Station to serve residents, along with the development of technology in residential living, rental businesses, and health-related services integrated into new projects to meet the needs of residents. The finance and investment sector is expected to continue its growth from last year, benefiting from the return of tourists and foreign investors, as well as government economic stimulus policies.