Mr. Apichart Chutrakul, CEO of Sansiri Public Company Limited (SIRI), a leader in the country's real estate development sector, revealed that 2024 marks a significant year of growth as Sansiri enters its 40th year. Over the years, Sansiri has become a leading organization and a sought-after workplace for the new generation. We have weathered numerous crises, recognizing that crises and opportunities go hand in hand. Each crisis has made us stronger and allowed us to grow. We do not grow merely because we have been around for a long time, but because we are ready to change quickly and continuously with the potential of our people nurtured under the same DNA: SPEED TO MARKET, ATTENTION TO DETAIL, and WORK FROM HEART. As we step into our 40th year, Sansiri is ready to announce its business plan with the approach of “RESILIENT GROWTH - Sustainable Resilience,” leveraging our capabilities, expertise, and innovations to enhance our business and drive holistic operations to deliver products and services that resonate with consumers and stand out from competitors. Our target net profit is expected to set a new record for the best performance in the 40 years since the company's establishment, marking a stable progression from the previous year. In 2023, the company launched 44 new projects worth a total of 65 billion baht, achieving an ALL-Time High, growing 50% from the previous year and increasing tenfold from the COVID period, covering all products including condominiums, single-family homes, duplexes, and townhomes across all price segments to meet every demand and location, targeting those with genuine housing needs. Amidst challenging circumstances, we are committed to developing our business and continuing to grow strongly while prioritizing social responsibility and environmental sustainability, which Sansiri believes is crucial for creating a sustainable future.

Continuing to Restructure for Organizational Transformation by Appointing New Generation Leaders to Drive Growth into a New Decade in line with the vision of becoming a leading real estate development company in Thailand, offering comprehensive housing products and services accessible to everyone and creating sustainable benefits for all stakeholders.

Giving Back to Society by Supporting Inequality Reduction in alignment with the policy to enhance access to compulsory education, Sansiri has signed a collaboration with the Educational Equality Fund for a period of 3 years to create the Ratchaburi Model with the project “Zero Dropout: Every Child Must Learn”, with Sansiri supporting funding of 100 million baht, piloting in Ratchaburi to become a model province, aiming to help eliminate dropout rates by 2024, which has made significant progress. Importantly, we have no business interests in the area, so there is no conflict of interest.

Maintaining Growth Levels and Strengthening the Industry

Mr. Uthai Uthaisangsuak, President of Operations at Sansiri Public Company Limited, revealed that Sansiri continues to maintain growth levels effectively amidst the economic recovery, with ongoing new project launches and marketing campaigns and activities, such as the Museum of YOU event held in October 2023, resulting in Sansiri achieving sales of 49 billion baht in 2023, while transfer values (including joint venture projects) reached 39 billion baht, and successfully sold out 28 projects worth a total of 51 billion baht.

Among the launched projects are the successful extensions of the Narasiri and Bukan brands within the Sansiri Luxury Collection, as well as the refresh of the Setthasiri and D Condo brands. For the high-rise project launches, there are 6 new D Condo projects in 6 potential locations nationwide, with a total project value of over 6.3 billion baht, targeting large community locations near universities and job centers in Bangkok, Hat Yai, and Phuket, along with the return of high-end condominiums such as Chuch Ratchathewi and Via Ari, as well as new condominium brands.

“For 2024, Sansiri is advancing its business for sustainable growth, planning to launch a total of 46 projects worth a total of 61 billion baht in potential locations in Bangkok and provincial markets, increasing the proportion of luxury home projects and targeting sales of 52 billion baht and transfer values of 43 billion baht, starting with the horizontal business group planning to launch a total of 26 projects worth a total of 35 billion baht. The highlights of this year include two projects from the Sansiri Luxury Collection: the super-luxury single-family home ‘Narasiri Bangna Km. 10’ valued at 3.8 billion baht, priced between 45 – 70 million baht, along with the successful expansion of the luxury single-family home brand with the launch of 7 Setthasiri projects worth a total of 14.4 billion baht, starting with the new Georgian-style Setthasiri Watcharapol - Thepraksak project valued at 2.7 billion baht, reinforcing our leadership in the super-luxury and luxury real estate market in Thailand, while also advancing the affordable horizontal market through the launch of 6 Saransiri projects worth a total of 9.1 billion baht, focusing on the first home for families, and 4 Anasiri projects worth a total of 4.1 billion baht to deliver a comprehensive product range including single-family homes, duplexes, and townhomes. Additionally, Sansiri is preparing to expand its horizontal portfolio with the launch of 2 new brands: ‘Narinsiri’, a new premium single-family home brand with the first project ‘Narinsiri Krungthep Kreetha’ valued at 1.8 billion baht, and ‘Mabel’, a new affordable single-family home brand priced around 5-7 million baht with ‘Mabel Bangna 26’ valued at 850 million baht. For the high-rise business group, Sansiri plans to launch 20 condominium projects worth a total of 26 billion baht, continuing the successful strategy from last year, focusing on expanding investments into tourism cities more significantly, with highlights including the launch of ‘The Standard Residence Hua Hin’ valued at 4.1 billion baht, the first Branded Residence in Asia and the third in the world under The Standard, a leading boutique hotel and lifestyle brand, and the launch of 2 new Via projects worth a total of 2.5 billion baht in prime locations with high demand but low supply in Sukhumvit 34 and 61, as well as continuing to penetrate the affordable condominium market with the Campus Condo brand through the launch of 3 D Condo projects worth a total of 2.8 billion baht, and the ongoing development of projects under The Move brand and condominiums. Furthermore, we are preparing for an exciting refresh of The Base brand for launches this year totaling 3 projects worth around 4.5 billion baht,” Mr. Uthai stated.

Sansiri remains committed to its green mission and is the first real estate company in Thailand to aim for net-zero greenhouse gas emissions by 2050 through the driving of 4 key pillars: ‘Process-Product-Partner-Investment’. Another important plan is to deliver every new project of Sansiri with Green Living Designed Home innovations, starting from design and construction to delivering clean energy homes, ensuring residents have a high quality of life and significantly saving energy, with each household able to reduce energy consumption by up to 18% per year. We aim to expand this initiative to all new The Base condominium projects in 2024, where the common areas will incorporate the Green Living Designed Home approach to operations, targeting an initial energy reduction of around 6%.”

Implementing 3 Strategies to Maintain Leadership in the Residential Real Estate Sector

Mr. Phumipak Chulmanichot, Chief Strategy Officer of Sansiri Public Company Limited, stated, “In the past year, real estate developers have continued to launch new projects, as there was a halt in launches during COVID. However, we view that the Thai economy will not fully recover in the near future due to both domestic and international factors. Domestically, we see interest rates as a significant challenge, while the recovery of the tourism market may stimulate demand from foreign buyers, especially for condominiums.

To achieve our set goals, Sansiri continues to advance through 3 key strategies to drive the organization while being prepared to handle all situations and maintain its leadership position in the residential real estate development business, which include:

  1. Maintaining consistent growth in performance by increasing the proportion of new project launches, especially horizontal projects, and efficiently managing investments to keep liquidity at a high level. For the first 9 months of 2023, the net profit was 4.76 billion baht (an increase of 91% from the same period last year and ranked 1 in the real estate sector), the highest in the 40-year history since the company's establishment, and exceeding the total net profit of 2022, reflecting the company's effective management to create stronger growth in the future and aligning with the Business Direction set.

Additionally, Sansiri aims to provide maximum returns to shareholders from continuously growing profits to ensure investors receive higher dividends in the future, with the latest dividend yield for 2023 at 12.4%.

  1. Managing the portfolio of ready-to-sell products to diversify across various locations to create opportunities and competitive advantages. This involves controlling the level of products for sale at each price level to remain appropriate before considering launching new projects, emphasizing investment discipline over seizing every opportunity that arises. With the new projects launched this year, Sansiri will have ready-to-sell units nationwide worth a total of 146 billion baht, which will lead to continuous revenue growth for Sansiri over the next 3 years.

Under this strategy, Sansiri is ready to expand investment opportunities with new business partners to jointly develop projects, as well as return to focus on strategic locations in major cities and tourism areas with potential, benefiting from clear infrastructure development roadmaps and the recovery of tourism, which is popular among foreigners, including Phuket, Chiang Mai, Pattaya, and Hua Hin. Plans are in place to launch a total of 13 projects in provincial areas worth a total of 16 billion baht, growing 170% from the previous year. For strategic locations like Phuket, a 5-year strategic plan has been developed to launch 16 new projects worth a total of 15 billion baht, including plans to open the Sansiri Hub or Sansiri's office in Phuket in 2024, along with the launch of The Standard Residence Hua Hin in February.

Continuing the Sansiri Community model in each location where Sansiri develops projects and enhancing them into perfect living communities, with 4 additional communities: Srinakarin-Praksa, Bangna Km. 10, Siwalee, and Ring Road – Lam Luk Ka, following the success of the previous 8 communities, including Krungthep Kreetha, Bangna-Lake 26, Rangsit-Bangpoon, Ratchaphruek-346, Krungthep-Pathum Thani, Westgate, Rama 2-Ring Road, and Pracha Uthit 90.

  1. Enhancing the quality of products, services, and sustainability to be number 1 in the residential real estate sector, aligning with the increasing launches of mid-range and high-end projects, which is one of Sansiri's key strategies to maintain its status as a leader in the real estate industry in every dimension. Every Sansiri project is assured of quality management by a professional team, addressing all care needs from Plus Property Company, delivering sustainable quality of life to customers and relevant stakeholders.

Supporting Information

Sansiri plans to develop a total of 46 new projects in 2024 worth 61 billion baht, divided into horizontal projects of 26 projects worth a total of 35 billion baht and condominiums of 20 projects worth a total of 26 billion baht, targeting sales of 52 billion baht and transfer targets of 43 billion baht.

Recently, a grand promotion ‘Sansiri Gives!’ has been launched to thank customers, offering homes, condos, and townhomes with special promotions to welcome the New Year, featuring 85 quality projects ready for occupancy nationwide in all locations, meeting the continuous demand from customers seeking housing, making it easier to own a home. Sansiri offers up to 3 million baht* in cash back and discounts of up to 300,000 baht* on ready-to-move-in homes, condos, and townhomes from Sansiri from now until March 31, 2024, targeting sales of 10 billion baht and contributing to stimulating the real estate market and related businesses in the early part of the year.