Asset Wise Public Company Limited (ASW) has showcased robust sales in the first quarter of 2024, achieving a total of 6.27 billion baht, marking a growth of over 65% compared to the same period last year. This accounts for 35% of the annual sales target set at 17.8 billion baht, driven by the success of the "The Title Heritage Bang Tao" project managed by its subsidiary, Rompho Property Public Company Limited (TITLE). This luxury project, located in the prime lifestyle area of Bang Tao, Phuket, has a project value of 6 billion baht and has already secured over 50% of bookings since its launch earlier this year. Additionally, the "The Title Serenity Naiyang" project, which benefits from the vibrant Phuket tourism market, is also contributing positively. In Q2 2024, ASW plans to continue its momentum by launching 2 new projects, a campus condo brand called Kave, with a total project value of nearly 2.5 billion baht.

Mr. Kramchat Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading property development company focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness", revealed that in the first quarter of 2024, the company achieved a total pre-sale of 6.27 billion baht, reflecting a growth of over 65% year-on-year (YoY), which is 35% of the annual sales target of 17.8 billion baht. This success is attributed to the positive reception of condominium projects under the brand THE TITLE, developed by its subsidiary, Rompho Property Public Company Limited (TITLE), including “The Title Heritage Bang Tao” (789 units) in a prime location in the Bang Tao lifestyle area, valued at 6 billion baht, which has already secured over 50% of bookings since its launch at the beginning of 2024. Another project, “The Title Serenity Naiyang” (814 units), known for its beautiful location near Nai Yang Beach and the serene atmosphere close to Sirinat National Park, has a project value of 4 billion baht. Both projects have received positive signals from the Phuket tourism market, reflecting the confidence of both Thai and foreign customers in the brand THE TITLE and ASW.

Phuket remains a top travel destination for both Thai and foreign tourists, with around 2,000-3,000 Russian tourists visiting daily and approximately 1,000 Chinese tourists per day. Due to geopolitical conflicts, there has been a significant increase in demand for residential properties in Phuket as second homes. THE TITLE and ASW continue to develop real estate projects in Phuket, maintaining their position as market leaders trusted by foreign customers.

Overall, the real estate market in Bangkok and its vicinity remained stable in the first quarter of 2024. However, in Q2 2024, the market is showing signs of activity. Recently, the Central Land Allocation Committee approved a principle to reduce the minimum land size for developing housing projects, including single houses from a minimum of 50 square wah to 35 square wah, twin houses from a minimum of 35 square wah to 28 square wah, and townhouses from a minimum of 16 square wah to 14 square wah, to align with the current purchasing power of the public. Additionally, there are other measures to stimulate the real estate market under consideration by the Ministry of Finance and the Ministry of Interior, such as reducing transfer fees and raising the price ceiling for homes eligible for tax exemptions from 3 million baht to 5 million baht, which is expected to be part of the economic stimulus package prepared by the government after the 2024 budget is passed.

Mr. Kramchat further stated that in Q2, the company will continue to develop projects, preparing to launch 2 new projects with a total project value of 2.46 billion baht. These include Kave Luminous Bangmod (617 units) valued at 1.3 billion baht and Kave Genesis Nakhonpathom (627 units) valued at 1.16 billion baht.

“The Kave condo brand is one of ASW's flagship projects that has consistently strengthened the company's revenue portfolio, receiving positive responses from buyers for actual residence and investors seeking good returns from rentals,” Mr. Kramchat stated.

ASW is engaged in real estate development, focusing on high-rise and low-rise residential projects in prime locations under the concept of "Happiness Designed for You" or "We Build Happiness". To date, it has developed over 66 projects of condominiums and housing estates under various brands designed to create happiness suitable for every lifestyle, including brands such as KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and the brand under Rompho Property Public Company Limited (TITLE), a subsidiary of the company, with a total project value exceeding 93.8 billion baht. This includes 46 completed and ready-to-move-in projects and 20 projects currently for sale and under development. As of the end of 2023, the company has a backlog of sales awaiting revenue recognition valued at over 19.575 billion baht.