• Sansiri maintains momentum from 2023, ranking number 1 in revenue and dividends, reporting first-quarter sales surging to 15 billion baht, a 25% YoY growth amidst the challenges of a volatile market.
  • Starting the year with PTY Residence Sai 1 in Pattaya Sold Out! with sales reaching 3.3 billion baht on the very first day of the pre-sale, reaffirming its position as a leader in real estate.
  • Robust strategy focusing on real demand without creating artificial sales, with a backlog ready to recognize revenue of 20 billion baht.
  • Confident in government measures supporting the real estate market, continuing into Q2 with 7 projects worth 15.2 billion baht.

Sansiri Public Company Limited (SIRI) continues to lead the country's real estate market with outstanding performance, maintaining strong operational momentum from 2023, ranking number 1 in revenue and dividends, resulting in first-quarter sales (Presale) reaching 15 billion baht (6 billion baht in horizontal properties, 9 billion baht in condominiums), exceeding the set target by 28% of the sales target of 53 billion baht, a 25% increase from the same period last year (YoY) amidst economic pressures.

This success comes from the PTY Residence Sai 1 project, a flagship condominium on Pattaya Beach, with sales reaching 3.3 billion baht and the hottest booking of the year, selling out within 3 hours of the pre-sale opening (March 29). This reflects confidence in the brand and its attentive after-sales service, which is key to maintaining overwhelming customer trust. PTY Residence Sai 1 is one of the masterpiece projects in the last decade on Pattaya Beach Road (Central Pattaya) by Sansiri, a rare item on the last available freehold land.


The next factor of success comes from a tight strategic plan and effective management, focusing on real demand and securing bank loan approvals before booking, avoiding artificial sales, resulting in Sansiri having the lowest cancellation rate in the market, with a backlog of over 20 billion baht, along with a remarkable take-up rate from condominiums in tourism destinations like Phuket, Pattaya, and Hua Hin. Overall, in the first quarter, Sansiri launched 10 new projects (2 horizontal properties, 8 condominiums) worth a total of 14 billion baht.

Diving deeper into the first-quarter success, it comes from the condominium products that received positive responses, with high take-up rates from projects in tourist destinations, including The Base Cherng Talay in Phuket, PTY Residence Sai 1 in Pattaya, Cabana Hua Hin, as well as ready-to-move-in (RTM) products like Way Phothisar 2 and The Move Pradipat, reflecting that RTM condominiums are still in high demand.

Regarding the recent earthquake, it is viewed as having only a temporary impact due to the strong construction standards of high-rise buildings in Thailand, allowing for rapid recovery. However, this event will change consumer perspectives, leading them to prioritize quality brands, both in terms of project safety standards and after-sales service.

On the positive side, demand in the horizontal property segment has increased significantly and covers all segments, such as Siri Place, Anasiri, Setthasiri, and Narinsiri. Nevertheless, in light of the current economic situation, Sansiri continues to move forward with its plans while closely assessing the situation, expecting to launch 7 projects in Q2 (5 horizontal properties, 2 condominiums) worth a total of 15.2 billion baht.

Currently, we are entering a "Buyer's Market" era, supported by key factors such as the temporary relaxation of LTV measures, reduction of transfer and mortgage fees, along with a downward trend in interest rates.

This helps home buyers access loans more easily, and all developers are competing with attractive campaigns, including discounts and offers of waived fees to stimulate purchasing decisions. Additionally, there are new potential locations along the subway lines that are still reasonably priced but have growth opportunities in the future, while developers focus on building confidence and improving project quality to meet the demands of modern consumers who prioritize safety and quality of life.

Follow information on various Sansiri projects at https://siri.ly/AzFho14

Additional Information

  • Analysts' confidence from investors: Analysis from Krungsri Securities and Globlex Securities (March 20, 26) recommends SIRI as a Top Pick in the real estate sector, highlighting its highest dividend yield in the group at 9.4% (estimated for 2023) and its ability to design products and catch market trends, along with strategies for creating added value in potential locations.
  • Q1: Sold Out! 7 projects worth 6.4 billion baht including PTY Residence Sai 1, D Condo Phana, Way Phothisar, Condo Me Bangna-Bang Bo, Anasiri Ayutthaya, Elz Ram Inthra 34, and Elz Rama 9.
  • Q2: Get ready for “Narasiri Bangna Km. 10” worth 4.1 billion baht, starting from 60 – 150 million baht, a project in the Sansiri Luxury Collection, the only one on Sansiri 10 East, a new luxury community from Sansiri, including a key highlight, Via 34 worth 1.3 billion baht, a low-rise luxury condominium in the best location in Sukhumvit, just 350 meters from BTS Thonglor, exclusive to only 45 families. Coming soon, and ready-to-move-in condominiums in Phuket, such as The Base Rise ready for transfer in April and The Base Bukit ready for transfer in May.
  • New business: Crafted by Sansiri offers full home-building services from Sansiri, after launching just a few days ago, has already garnered over 100 million baht in bookings.

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