Frasers Property (Thailand) Public Company Limited, or "FPT" announced its Q3 results (April – June 2023) with revenue of 4.468 billion baht and a net profit of 396 million baht following strong demand in the residential sector, particularly in the high-end single-detached home segment. The industrial and commercial sectors also saw significant growth in rental and service income, benefiting from the relocation and expansion of investment into Thailand, as well as a robust tourism sector. For the nine-month performance (October 2022 - June 2023), the company achieved revenue of 11.598 billion baht and a net profit of 1.031 billion baht.

Mr. Thanapol Sirithanachai, Chief Executive Officer (Country Chief Executive Officer) of Frasers Property (Thailand) Public Company Limited stated that FPT has successfully generated stable revenue in Q3 of the fiscal year 2023 (April – June 2023) from its residential, industrial, and commercial businesses. The Q3 performance across all business groups continued to grow from Q2 of the fiscal year 2023 (January – March 2023), with total revenue of 4.468 billion baht, an increase of 30% from 3.424 billion baht, and a net profit of 396 million baht, up 25% from 318 million baht. The company continues to execute its business plan cautiously, focusing on capital management to maintain stability and liquidity to support market recovery opportunities, under a flexible strategy to cope with economic conditions, while also preparing to invest in businesses with potential for value creation alongside organizational management to enhance operational efficiency.

For the nine-month performance of the fiscal year 2023 (October 2022 – June 2023), FPT reported total revenue of 11.598 billion baht, comprising 7.691 billion baht from property sales, 2.061 billion baht from rental and service income, and 1.846 billion baht from other income, with a net profit of 1.031 billion baht.

In Q3 of the fiscal year 2023 the residential real estate sector generated revenue of 2.708 billion baht, driven by ongoing marketing campaigns and effective communication with target audiences, resulting in sales of 6.134 billion baht, particularly for single-detached homes priced at 10 million baht and above, which received a positive response. In Q3, the company launched the Alpina Rama 2 project, a luxury single-detached home priced between 20 – 35 million baht, with a project value of 2.2 billion baht. By the end of this quarter, the company had 78 ongoing projects with a total value of over 108.7 billion baht, and in Q4 of the fiscal year 2023 (July - September 2023), it plans to launch two more housing and townhouse projects with a total value of 2.83 billion baht, while maintaining a backlog of over 1 billion baht to support continuous operational growth.

Meanwhile, the industrial and commercial real estate sectors achieved rental and service income of 710 million baht, supported by the industrial real estate sector benefiting from the China Plus One strategy and changing global political geography, leading foreign investors to relocate and expand their investments in Thailand, which is strategically located and suitable for manufacturing bases. This has resulted in strong demand for factories and warehouses from tenants, including the delivery of a built-to-suit warehouse for a leading logistics service provider in the Asia-Pacific region, with a total usable area of 20,000 square meters in the Frasers Property Logistics Center (Bang Phli 7) Phase 2 in Samut Prakan, maintaining a portfolio occupancy rate of 86%.

In the commercial real estate sector, the portfolio of grade A office buildings in the CBD and mixed-use projects has a high occupancy rate of 93%, thanks to effective management that meets the needs of tenants, building users, and customers comprehensively. Recently, the buildings managed under Park Venture Fyi Center and Samyan Mitrtown received WiredScore certification, a global standard that guarantees the connectivity and digital infrastructure capabilities of the buildings at an international level. The Samyan Mitrtown shopping center and Silom Edge have seen continuous high traffic due to the recovery of domestic consumption and an increase in foreign tourists coming to Thailand, positively impacting the hotel business as well.

With the growth in hotel business revenue, along with management fees, land sales, and the sale of investments in subsidiaries engaged in data center operations, this aligns with FPT's strategy to adjust future investment spending to focus on core business investments, resulting in the recognition of other income totaling 1.05 billion baht in this quarter.

For future projects, FPT plans to develop the Mayfair Marriott Executive Apartment project as a super-luxury condominium to further enhance business growth and increase long-term returns for the company.