Many may not know that before Pruksa Real Estate became the billion-baht real estate company it is today, it started its business by building townhouses. The first project was Pruksa 1, operating under Pruksa Real Estate Co., Ltd., founded by Mr. Thongma Vijitpongpun in 1993.

From its inception to today, spanning 30 years, Mr. Thongma has demonstrated a vision that never stands still, always moving forward to develop the business. This vision has been a crucial driving force behind Pruksa's growth into a major real estate company, continuously striving to deliver housing that embodies 'Good Living, Happy Living' while expanding into new businesses in line with global trends. This is evident from its ventures into hospitals, e-commerce, and alternative energy.

The business journey of Pruksa over three decades is fascinating, and what Pruksa will do next is certainly worth watching.

From Townhouses to Premium Residences

Mr. Thongma Vijitpongpun, the founder of the company, currently serves as the Vice Chairman of Pruksa Holding Public Company Limited. He shared the story of Pruksa's origins, stating that the company was established on April 20, 1993, launching with the Pruksa 1 project in Rangsit-Klong 8. It began constructing and selling townhouses under the BOI (Board of Investment) project to support low-income earners in owning their own homes by developing townhouse products that meet market demands and incorporating construction technology, becoming a leader in revolutionizing the housing construction industry with precast technology. After successfully establishing townhouses, the company studied the needs of new customer segments and subsequently developed other types of housing projects, including single houses, condominiums, townhomes, and duplexes, catering to the diverse lifestyles of different customer groups, covering needs up to the upper market.

In addition to project development, the organization has also advanced, with several significant changes worth noting:

• In 2004, Pruksa Precast Factory was established, making Pruksa a leader in the home construction industry by adopting precast technology from Germany and building the first precast concrete factory in Thailand, using the most modern machinery at that time with an investment of 650 million baht.

• In 2005, it transformed into a public limited company and began trading on the Stock Exchange of Thailand. In the same year, it expanded its customer base from townhouses to single houses under the brand 'Passorn', focusing on enabling middle-income customers to own large single houses that offer the best value for their money.

• In 2007, due to changes in public transportation systems and the emergence of electric train projects, consumer housing concepts shifted, leading to a high demand for condominiums. Pruksa adjusted its strategy by constructing condominiums under the brands Ivy The Seed and City Ville.

• In 2014, it opened the 6th and 7th Pruksa Precast factories, utilizing world-class technology, allowing Pruksa to produce up to 1,120 units per month and becoming the first Green Factory in Thailand in the precast concrete manufacturing industry with a concrete recycling system.

• In 2020, it entered the premium market with the 'The Reserve' project to expand its customer base into the upper market, covering all target segments, which is another strategy for sustainable growth for Pruksa.

Establishing Pruksa Holding to Support Growth

After significant business growth, in 2016, the company established a holding company named Pruksa Holding Public Company Limited. Mr. Thongma explained that this holding company was created to support and enhance the agility of expanding into new businesses that can generate continuous revenue, with three main strategies: 1) Maintain leadership in the real estate market for low to middle-income housing, 2) Increase the company's market share in the upper housing market, and 3) Expand investments into new businesses that generate continuous revenue.

Expanding into the Hospital Business

Pruksa's hospital business began in 2017 under the name 'Wimut', located on Phahonyothin Road, with an investment of 5 billion baht, marking Pruksa's first step into the health business, which will serve as another source of regular income beyond real estate and enhance the value of housing projects through health care services and nursing homes for the elderly, with the 'Wimut Doctor's Clinic' model.

“Wimut Hospital opened for full service in 2021. We are committed to ensuring patients maintain good health, free from physical and mental suffering, with specialized centers and a team of doctors who care for patients as if they were family, providing precise diagnosis and treatment with modern medical technology and equipment at accessible costs,” said Mr. Thongma.

2022: The Year of New Business Expansion

In 2022, Pruksa experienced significant changes, with a key development being the establishment of a Corporate Venture Fund worth 3.5 billion baht to seek new business opportunities aligned with future global trends, focusing on two areas to support its core business: PropTech, such as solutions aimed at enhancing customer experience, digital sales and marketing, as well as Smart Home IoT, and Senior Living. The other area is Health Tech, which will focus on medical service platforms via the internet, managing the supply chain for health-related businesses, and healthcare-related equipment.

Additionally, it expanded into new e-commerce business by establishing Synergy Growth Co., Ltd. to leverage digital technology as a tool for business expansion, as well as establishing Inno Precast Co., Ltd. to meet precast demands and forming a joint venture named Pan New Energy Co., Ltd. to sell and install solar roofs, supporting the use of alternative energy while continuing to apply synergy strategies to strengthen the capabilities of affiliated companies.

A significant regional collaboration was announced, establishing the 'CapitaLand SEA Logistics Fund' in partnership with two leading companies: CapitaLand Investment Group (CLI), a global leader in real estate investment management, and Ally Logistic Property (ALP), the most advanced integrated warehouse solution provider in Taiwan's logistics industry, to invest in and develop real estate assets for the industry and logistics in key countries across Southeast Asia.

Moving Forward with Delivering 'Good Living, Happy Living'

At the beginning of 2023, Pruksa announced a new goal of delivering housing that embodies 'Live well, Stay well', which not only develops beautiful homes with innovative designs but also integrates health factors, good communities, and enhances the quality of life in the true sense of 'Good Living, Happy Living'.

The three affiliated businesses—real estate, healthcare, and e-commerce—will combine their strengths to elevate living standards, catering to the digital lifestyle, such as the concept of Multi-Gen homes that accommodate all ages, using home automation to improve life, connecting lifestyles through the MYHAUS application that controls IoT in homes at the touch of a finger, utilizing alternative energy like solar roofs and EV-Chargers, and collaborating with Wimut Hospital to provide health care services and benefits to residents. Furthermore, Pruksa Real Estate plans to partner with external partners to enhance the 'Good Living, Happy Living' experience.

“Our intention from the beginning until today is to ensure that Thai people have homes where they can live happily. We must thank over 260,000 Thai families who have trusted Pruksa for the past 30 years, and we will strive to create good living conditions to ensure that every life associated with Pruksa experiences 'Good Living, Happy Living' to the fullest,” concluded Mr. Thongma.

On the occasion of its 30th anniversary, Pruksa is offering a discount package on products and services within its network for current customers who are Pruksa Members, as well as customers transferring ownership and visitors to projects in April. Additionally, there will be special flavor ice cream made for the 30th anniversary celebration, offered to customers visiting the projects (in selected projects) from April 22 to 30.