Sivaram Real Estate Public Company Limited “SVR”, the first premium economy property developer in Thailand, is aggressively expanding its portfolio with plans to launch 6 new projects worth a total of 4.632 billion baht in the Year of the Dragon. The company aims to establish a presence in the Phutthamonthon and Bangkae-Sathorn areas to broaden its customer base and meet the diverse needs of residents, targeting a revenue growth of no less than 35-50% this year from new and ongoing projects.

Mr. Ronarit Thitisuriyarak, the Executive Chairman and Senior Chief Financial Officer of Sivaram Real Estate Public Company Limited (SVR), revealed that the company plans to launch 6 new projects in 2024, totaling 4.632 billion baht, which will contribute to the company's growth target of 35-50% this year from the new projects as well as the ongoing ones.

The new projects will begin pre-sales starting in the second quarter of 2024, including the Sivaram Hyde project (Bangkae-Sathorn), featuring European luxury-style single-family homes with 29 units, comprising 9 L-sized homes and 12 XL-sized homes, valued at 400 million baht, with prices starting from 13.90 million baht.

The Sivaram Hyde (Phutthamonthon Sai 3) project will feature Art Deco-style single-family homes with 31 units, including 17 M1-sized homes and 14 M2-sized homes, valued at 422 million baht, with prices starting from 12.90 million baht.

The Sivaram Nature Plus Bangpu 104 project will consist of three types of homes: townhouses, duplexes, and single-family homes in the Bergen Norway style, with a total of 488 units, including 232 TH5 townhouses, 141 TH5.40 townhouses, 108 SDH duplexes, and 7 DH single-family homes, valued at 1.453 billion baht. This project is operated by Sivaram Plus Land Co., Ltd., in which SVR holds a 60% stake and the Phutthaprommongkol Group holds 40%, marking the first project following their joint venture.

Additionally, the Grand Sivaram 2 project (Sukhumvit-Bangpu) will feature 254 two-story Art Deco-style single-family homes, including 105 S+ homes, 84 M+ homes, and 65 L+ homes, valued at 1.438 billion baht, with prices starting from 4.5 to 7.0 million baht.

Moreover, there are projects from last year that have been postponed to open this year and will start generating revenue from January 2024 onwards, including the Sivaram Park (Pracha Uthit 76) project, which consists of 91 single-family homes on 50 square wah plots, covering approximately 22-3-78 rai, valued at around 600 million baht, with starting prices of about 5 million baht per unit. This project has already received 18 bookings worth approximately 100 million baht since January.

The Sivaram Village (Bangkrui-Sainoi) project will feature 242 units of duplexes and townhouses on 24-3-39 rai, valued at around 700 million baht, with prices ranging from 2 to 3.5 million baht per unit, and will begin generating revenue from February onwards, with 20 units already booked worth approximately 100 million baht.

Additionally, there are 5 ongoing projects that will continue to generate revenue, including the Sivaram Grand (Sukhumvit-Bangpu), Sivaram Nature Plus (Assumption-Sriracha), Sivaram Nature Plus 2 (Sukhumvit-Bangpu 83), Sivaram City (Nikhom Phatthana-Rayong), and Sivaram Village (Sukhumvit-Bangpu 58). SVR also has approximately 1.2 billion baht worth of homes available for sale to support continuous high growth, resulting in a total of 11 projects that will gradually generate revenue until 2025-2026. All SVR projects are completed before sale, so there is no backlog of ownership transfers.

Overall, the real estate market in 2024 is expected to recover moderately. However, considering the demand from consumers, there is a continuous increase in demand for horizontal properties in Bangkok and its vicinity. This consumer demand has prompted the company to strategize the expansion of new projects in areas such as Phutthamonthon, Bangkae-Sathorn, and Bangkrui to meet the diverse needs of residents and enhance opportunities for the company to grow its sales continuously in the future.