Sena Development is following its mission to "enhance access to housing" and is part of the solution to the challenges of home ownership and loan approvals with the launch of "Cash for Good," a comprehensive financial assistance program for home buying. This service emphasizes both consultation and loan programs regulated by the Bank of Thailand, ensuring that everyone can own a Sena home without concerns about their credit.

Assoc. Prof. Dr. Kesara Thanyalakphak (Dr. Yui), Managing Director of Sena Development Public Company Limited, stated that everyone is aware of the importance of sustainable development today, which arises from the world's main social challenges, categorized into four key issues: environmental problems and climate change, access to healthcare services, inequality, and urban concentration. One significant issue that has not seen concrete action is urban concentration. Many discuss it, but finding solutions is not easy.

Urban concentration includes the need for housing development that ensures adequate housing for everyone, providing secure, sustainable living at affordable prices. However, in reality, owning a home is increasingly difficult, especially for low to middle-income individuals. This is due to several factors, such as inflation leading to a continuous rise in living costs, housing prices increasing faster than incomes, dwindling savings, and rising debt burdens. As of 2023, the average household debt in Thailand reached approximately 560,000 baht, with projections for 2024 estimating household debt to rise to about 91% of GDP, a high rate for the economy.

Moreover, interest rates are currently on the rise, at 2.5%, the highest in a decade. Many Thais face financial or credit issues, reducing their purchasing power for housing, which contrasts with the rising costs of housing driven by land, labor, and construction expenses. These factors make it increasingly difficult for banks to provide housing loans, with strict measures leading to a loan rejection rate exceeding 50%, a growing problem.

Dr. Kesara further stated that all sectors likely have their approaches to addressing these issues. Sena Development has always prioritized the challenge of accessing housing, which is one of the company's main missions: to enhance access to housing for people. This aligns with the United Nations' sustainable development goals, particularly SDG 11: Sustainable Cities and Communities, which emphasizes ensuring access to adequate, safe, and affordable housing and basic services. Sena has developed various products and innovations to support this solution, including the "Cash for Good" service, or The Lending Hand Who Understands, a financial assistance program for housing loans, led by experienced executive Ms. Jintana Klaisuwan.

Sena recognizes that many people want homes but lack financial planning, making it difficult to secure loans. Some cannot access funding sources to buy homes. Therefore, they have sought ways to assist customers wishing to purchase housing. Ms. Jintana Klaisuwan, Executive Chairman of Cash for Good Co., Ltd., explained that Cash for Good acts as The Lending Hand Who Understands, providing financial assistance for housing loans with a team of experts to analyze and plan, promoting financial discipline for better credit. This helps improve borrowers' credit status, increasing their chances of loan approval for housing or green loans, such as solar roofs or electric vehicles.

“Cash for Good will serve as a personal financial assistant, helping analyze and plan finances to choose loans that are most beneficial and suitable for customers, making home ownership easier. It consists of three main services:

  • Analyze customers' financial status using credit bureaus and DSR (Debt Service Ratio) with a team of experts and recommend loans that best match the customer's credit.
  • Provide personal loans and small loans regulated by the Bank of Thailand to support home purchases in cases where financial status does not meet bank requirements.
  • Build credit through leasing to create a good payment history and credit for future home ownership.

Cash for Good began trial services in 2023, yielding positive results, helping people secure housing from banks' rejection rates of about 7-10%, totaling approximately 300 million baht. Interest in the service is increasing, and this year, we aim for Cash for Good to help people access home ownership or reduce loan rejection rates from banks by at least 10-15%, which will directly reflect in increased home sales for Sena,” said Ms. Jintana.

“Sena Development prioritizes supporting everyone in accessing home ownership more easily, believing that "Cash for Good" will be one of the essential services that enable everyone to own a Sena home without worrying about credit issues,” Dr. Yui concluded.