Supalai Public Company Limited has announced its robust business roadmap for 2024, setting records in various dimensions including the number of projects, total value, sales targets, and revenue goals.

Dr. Prateep Tangmattatham, Chairman of the Executive Board of Supalai Public Company Limited, revealed that the overall real estate economy in 2024 is expected to improve due to declining interest rates, stabilizing inflation, and a resurgence in tourism and exports. However, it remains to be seen whether real estate operators will compete to launch more new projects this year.

Dr. Prateep Tangmattatham, Chairman of the Executive Board of Supalai Public Company Limited

In 2024, despite facing various challenges in the housing market, the real estate sector is expected to continue its momentum, driven by the adaptability of real estate operators. The demand for residential products, particularly in the mid to upper segments, remains strong, while signs of recovery are emerging in the condominium market in prime locations.

The overall outlook for the company in 2024 is one of expansion across various dimensions, driving real estate investments both domestically and internationally. This year, the company plans to launch the highest number of projects with the highest total value, aiming for record sales and the highest project transfer value. New initiatives will include innovative product designs, new house models, improved product quality, and eco-friendly housing innovations, alongside investments in new locations to broaden the market reach. Supalai aims to develop residential projects across 29 provinces, having launched a total of 441 projects since its inception. Additionally, the company continues to invest in Australia, partnering with leading real estate firm Stockland Communities Partnership HoldCo Pty Ltd to establish a joint venture named "SSRCP HoldCo Pty Ltd," injecting an additional 12.6 billion baht to develop 12 new projects worth 137.7 billion baht across four states and five major cities, bringing the total to 24 projects worth 187.7 billion baht, with 22.3 billion baht in total capital from Supalai. The newly acquired projects are expected to generate revenue this year as they have already begun development.

For the business direction in 2024, the company remains committed to developing its business and continuing strong growth, setting new ambitious targets. It aims for an all-time high in both project launches and sales, with a sales target of 36 billion baht, total revenue of 36 billion baht, and a land acquisition budget of 8 billion baht. This year is set to break records for the highest number of new project launches and total value, with 42 projects worth a total of 50 billion baht, covering all products and price segments to meet diverse consumer needs. The company plans to launch 38 new residential projects worth 43.5 billion baht and four condominium projects worth 6.5 billion baht, while also expanding into three new provinces with potential locations: Lampang, Ratchaburi, and Lopburi, ensuring coverage across 29 provinces to meet consumer demand nationwide.

Mr. Traitecha Tangmattatham, Managing Director of Supalai Public Company Limited, discussed the company's performance in 2023, which faced challenges due to economic uncertainties. However, the company managed to move forward strongly, achieving sales of 28.864 billion baht in Thailand, launching a total of 26 new projects, both horizontal and condominium, worth a total of 29.64 billion baht, including 23 horizontal projects (8 in Bangkok and surrounding areas, 15 in regions) and three condominium projects.

Mr. Traitecha Tangmattatham, Managing Director of Supalai Public Company Limited

Highlighting the key points for 2024, the company is set to aggressively enter the real estate market, launching the most horizontal projects in Bangkok, surrounding areas, and regions. In the first quarter, it plans to launch 14 projects worth a total of 14.99 billion baht, while also increasing its share in the luxury single-house market targeting high-end customers with projects priced at 10 million baht and above, aiming to increase sales proportion by 56% from the previous year. The company will also introduce new brands and focus on developing product designs that align with the lifestyles of all target customer groups, creating a new series of house designs with innovations for sustainable living. It will expand into high-potential locations that meet residential needs, such as Arun Amarin, Krungthep Kreetha, and Phutthamonthon, while also re-entering the condominium market with unique functions and designs at competitive prices. Additionally, it will collaborate with partners to launch special campaigns for Supalai customers, such as a campaign offering 0% interest for the first year, while driving environmentally friendly business practices and sustainable energy management, aiming to reduce greenhouse gas emissions by 40% by 2030 from BAU (Business As Usual).

It is anticipated that 2024 will be another year of growth in sales, revenue, and profits for the company, with residential projects covering up to 29 provinces and ready-to-move-in products meeting customer demands, along with financial cost readiness, innovative product development, comprehensive marketing and sales, and environmentally friendly services.