ASW reports Q1/2025 sales of 8.32 billion baht, a 75% increase (QoQ) and accounting for 43% of the annual sales target, following a reduction in interest rates and a continuous recovery in tourism that boosts bookings for luxury condos and villas in Phuket during the high season. It is expected that the recent earthquake will not impact Q2/2025 operations, as 90% of the residential portfolio consists of housing projects and 8-story condos, with all new projects completed this year being 8-story condos, and over 40% of the backlog located in Phuket. All projects in the portfolio are confirmed to be safe and structurally sound according to engineering standards, following inspections by external engineers and experts on both completed and ongoing projects. The market for housing projects and 8-story condos is still benefiting from the easing of LTV regulations, and the company is confident that annual sales will meet the target of 19.5 billion baht.

Mr. Krungchet Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," stated that in the first three months of 2025 (January-March 2025), the company achieved sales from condominium and housing projects totaling 8.32 billion baht, a 75% increase from the previous quarter (QoQ) and a 33% growth compared to the same period last year (YoY). This sales figure represents 43% of the annual sales target set at 19.5 billion baht.

Outstanding projects in Q1/2025 include the Leisure Residences in Phuket, developed by Rompho Property Co., Ltd. (TITLE), a subsidiary that has gradually launched projects during the high season since late 2024. These include The Katabello project in a new location in Kata, valued at 5.5 billion baht, and Adora Rawai, valued at 1.4 billion baht, which has garnered significant interest, with over 50% of both projects already booked. Additionally, The Title Villa Estella Naiyang, the first luxury villa project of the TITLE brand, valued at 500 million baht, achieved 70% sales within just one week of its launch. Meanwhile, new projects in Bangkok and the surrounding areas, such as Kave Playground opposite Bodindecha School, valued at 1.6 billion baht, and Atmoz De Sol near the yellow line sky train station at Thipwan, valued at 1.7 billion baht, have also received positive responses and contributed significantly to overall sales.

“Although the real estate business faced pressure at the beginning of the quarter due to the overall economic situation and slowing consumer purchasing power, the recent 0.25% reduction in the policy interest rate has prompted financial institutions to gradually lower housing loan interest rates. This creates a favorable opportunity for those with demand and readiness to purchase, making it easier for them to decide. At the same time, the Phuket market is benefiting from the continuous recovery of Thai tourism, with 35 million foreign tourists visiting Thailand in 2024, generating tourism revenue of 1.67 trillion baht, a 34% increase from the previous year. Phuket, as a World Destination, sees a steady influx of tourists every year. Therefore, we are taking advantage of the high season to launch new projects, and our subsidiary TITLE has expertise in Phuket and has already gained the trust of foreign customers, leading to a positive response for the Leisure Residences project, which is a key mechanism driving ASW's sales this quarter,” Mr. Krungchet said.

Mr. Krungchet further stated that for Q2/2025, the company assesses that it may not be significantly affected by the earthquake that occurred on March 28, as it primarily impacts the high-rise condominium market. Over 90% of the company's portfolio consists of housing projects and low-rise condos or 8-story condos, which were not affected by this earthquake. Additionally, over 40% of the company's backlog comes from residential projects in Phuket, which also remain unaffected, and all new projects scheduled for completion this year are 8-story condos.

ASW has always prioritized the safety of both residents and projects, sending teams of engineers and external experts to urgently inspect all projects, both those with residents and those under construction. None of the company's projects have been affected, as the company emphasizes constructing projects with 100% safety and strength according to engineering standards. Additionally, all projects have building insurance covering both completed projects and those still under construction. We extend our support to all those affected by this incident and hope for a swift resolution, allowing all related sectors to recover strongly.

Looking ahead, despite various external factors to monitor, such as the U.S.-China trade war and the economic situation in China, the market for housing projects and low-rise condos continues to receive support from the easing of Loan to Value (LTV) ratios by the Bank of Thailand, effective from May 1, 2025, to June 30, 2026, along with the reduction in interest rates. This makes it easier for those looking to buy for personal residence or investment to access loans, increasing confidence in their purchasing decisions and accelerating the transfer of ownership, positively impacting the overall market. Currently, the company has completed and ready-to-move-in condominium and housing projects valued at a total of 8.5 billion baht.

ASW also has new completed condominium projects ready to transfer ownership and recognize revenue in Q2/2025, including Atmoz Palacio Ladprao-Wanghin, valued at 1.75 billion baht, and Atmoz Canvas Rayong, valued at 1.25 billion baht. The company continues to develop new projects as planned, such as campus condos that have clear demand from students, parents, and investors, as well as projects in Phuket that remain popular among both Thai and foreign buyers, to create continuous sales momentum and drive the company towards its sales target of 19.5 billion baht.

Asset Wise Public Company Limited (ASW) is engaged in real estate development, focusing on developing 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 75 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and projects under Rompho Property Co., Ltd. (TITLE), a subsidiary of the company, with a total project value exceeding 121.732 billion baht, comprising 22 completed and ready-to-move-in projects and 19 projects currently open for sale and under development. As of the end of 2024, the company has a backlog of sales awaiting revenue recognition valued at over 25.413 billion baht.