In response to the dissemination of misleading information regarding Sansiri Public Company Limited and its land acquisition methods, which has led to public misunderstanding and tarnished the company's reputation, the company wishes to clarify that:

  • The process of sourcing and purchasing land by Sansiri is conducted legally, transparently, and is verifiable at every stage. The company has a clear approach to evaluating land purchases through comprehensive risk assessments across various dimensions.
  • Before approving the purchase of each land parcel, Sansiri has a specialized land sourcing team that conducts preliminary checks and detailed assessments of the land being offered for sale. This includes a thorough feasibility study of the project in terms of macroeconomic factors, urban expansion, population, and national infrastructure, as well as considerations of market pricing, location, competitor analysis, investment costs, and expected profits, resulting in the company consistently achieving net profits.

Regarding the Thonglor land (KHUN by YOO):

  • Sansiri and its subsidiaries, as well as the company's directors and executives, have no affiliations with N & N Asset Co., Ltd., the seller of the land in question.
  • Sansiri purchased the Thonglor land in 2016 at a price of 1,100,000 THB per square wah from N & N Asset Co., Ltd., which has owned the land since 2008. This price is considered reasonable compared to the market rate.
  • Claims that Sansiri overpaid for the land, suggesting it should have been purchased for only 565 million THB or 650,000 THB per square wah, are unreasonable, as no landowner in Thonglor would sell their land at such a low price.
  • Furthermore, N & N Asset Co., Ltd. acquired this land in 2008, and it is normal for landowners to sell their property for a profit; it would be unrealistic to expect them to sell at 650,000 THB per square wah, which is significantly below market value.
  • Sansiri's subsidiary, Anavath Co., Ltd., has never lent money to N & N Asset Co., Ltd. Evidence in the land department's mortgage contract (attached document) shows that the mortgage was to secure the seller's compliance with the land sale contract, including clearing tenants from the land to transfer ownership free of any encumbrances. Once the seller completed these actions, Sansiri proceeded to acquire the land and developed it into a condominium project that has since been sold and transferred to customers.

Sansiri is currently considering legal action against those who have disseminated misleading information that has harmed its reputation. Sansiri reaffirms that its operations are conducted legally, transparently, and are verifiable, and wishes to clarify this matter.