Mr. Kramchad Wiphanpong, Chief Executive Officer of Asset Wise Public Company Limited, a leading real estate development company focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," stated that due to the continuous recovery trend of tourism in Thailand, especially in Phuket, a global residential destination, the company has decided to expand its business into Phuket. This will be done in collaboration with a real estate development company that has extensive expertise and understanding of the Phuket market, aiming to drive the Phuket real estate market's growth through foreign markets.

Mr. Kramchad Wiphanpong, Chief Executive Officer of Asset Wise Public Company Limited

Recently, Asset Wise has acquired shares in Rompho Property Public Company Limited (TITLE), which is listed on the Market for Alternative Investment (mai). TITLE is one of two real estate development companies in Phuket that are publicly traded. Asset Wise will hold a 57% stake through its subsidiary, marking a Good Timing (timely opportunity), Good Deal (favorable agreement), and Good Company (reputable firm) that will support the success of this acquisition. The reason for this acquisition is considered Good Timing because the tourism situation in Phuket has improved, leading to increased demand for residential properties from foreign tourists, compensating for the slowdown in demand during the COVID-19 pandemic over the past three years. TITLE has been able to sell and transfer ownership of all its projects at a rapid pace, with its latest project, THE TITLE HALO 1 NAIYANG, launched in November 2022, achieving over 79% sales, with ownership transfers expected to begin in the first quarter of 2024.

Regarding Good Deal, it enhances confidence among customers, partners, and investors significantly. The expertise and strength of both companies play a crucial role in driving the Phuket real estate market's growth, while TITLE will help increase Asset Wise's revenue streams. The Good Company aspect stems from TITLE being a market leader in condominiums in Phuket, with a management team that has been in the business for over 10 years, a reliable network, and land in prime locations ready for continuous project development. Both TITLE and Asset Wise share similar DNA, particularly a passion for real estate, a commitment to developing quality projects, attention to design details, effective cost control, and a strong reputation for construction quality and after-sales service. Additionally, TITLE already has a customer base that appreciates its brand, especially among foreign target groups, due to the strengths of its projects in design and decoration that meet user needs, along with spacious and lush common areas that surpass competitors. This will be a key factor in enhancing competitiveness and driving business growth, as well as generating good returns on investment in the future.


Mr. Kramchad further stated that TITLE has plans for 9 projects to be developed by 2026, with a total value of 14 billion baht, situated on over 80 rai in three prime locations in Phuket: 5 projects at Nai Yang Beach, 3 projects at Bang Tao Beach, and 1 project at Rawai Beach. Additionally, Phuket is in the process of expanding its international airport in Phase 2 to increase its capacity to accommodate foreign tourists, which Asset Wise predicts will be a contributing factor to achieving the revenue target of 10 billion baht over the next three years (2024 - 2026).

Collaborating with TITLE reaffirms Asset Wise's confidence in the growth potential of the Phuket real estate market and marks an important starting point for expanding investments in real estate. This follows previous partnerships with Botanica Luxury Phuket Co., Ltd., a leader in luxury pool villa development in Phuket, to develop the BOTANICA Grand Avenue project, which aims to be the best luxury pool villa on Bang Tao Beach, expected to be ready for viewing in September this year.