ASW reports first half pre-sales for 2023 totaling 12.957 billion baht, accounting for 66% of the annual sales target. The response to Phuket condos has been positive, with luxury villas at Nai Yang selling out in just two months. The real estate market in the second half of the year remains to be closely monitored, but is supported by lower interest rates, relaxed LTV regulations, and reduced transfer and mortgage fees. Over 90% of ASW's ready-to-move homes and condos qualify for government incentives, providing a favorable opportunity for buyers. The focus will be on managing ready-to-move products and launching new projects in high-potential locations. The Phuket market remains strong, with plans to develop projects catering to foreign demand during the high season, confident in achieving the sales target of 19.5 billion baht.

Mr. Kramchat Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer under the concept of "Happiness Designed for You" or "We Build Happiness," stated that the first half of 2023 has been a challenging period for the Thai real estate market due to economic slowdown and external pressures, including Trump's tax policies and the US-China trade war. However, ASW has implemented a risk diversification strategy by developing residential projects in tourist city locations like Phuket, enabling the company to achieve satisfactory results. In the first six months of 2023 (January-June), the company recorded sales of 12.957 billion baht, a 21% increase compared to the same period last year, representing 66% of the annual sales target set at 19.5 billion baht.

During the first half of 2023, the company launched a total of 5 new projects valued at 10.7 billion baht. Notable sales were achieved by the Leisure Residences group in Phuket developed by Rompho Property Public Company Limited (TITLE), a subsidiary of ASW. The projects include THE TITLE Villa Estella Naiyang, a luxury villa that sold out 100% within just two months, THE KATABELLO, a luxury condominium in Kata with 56% sales, and ADORA RAWAI, a luxury condominium near Rawai Beach with over 50% reservations. New projects in Bangkok and surrounding areas, such as Kave Playground, a pre-campus condominium opposite Bodindecha School, and Atmoz De Sol, a low-rise condominium near Thipawan Station, have also received positive responses from both end-users and investors.

Mr. Kramchat further stated that the Thai real estate market in the second half of the year needs to be closely monitored, considering the overall economic situation, political climate, and geopolitical issues that may affect consumer confidence. However, the market still benefits from a reduction in the policy interest rate to 1.75%, relaxed LTV regulations allowing full 100% loans for all price ranges, and reduced transfer and mortgage fees to just 0.01% for properties under 7 million baht until June 30, 2026. This presents an opportunity to clear stock of ready-to-move projects that can be transferred immediately, making it easier for buyers to own homes.

As of the end of Q1 2023, the company had completed and ready-to-move condominium and housing projects valued at a total of 9.968 billion baht, with over 90% of the total value of ready-to-move projects in the price range of 1-7 million baht, which is the price segment where customers can fully utilize government incentives.

To drive sales in the second half of 2023, ASW focuses on two main areas: 1. Managing ready-to-move projects by launching marketing campaigns in collaboration with financial partners to facilitate easier access to housing loans for customers and providing tenant-finding services for investment buyers, and 2. Launching new projects in high-potential locations that show clear demand from both end-users and investors in Bangkok, surrounding areas, and Phuket, another world destination with continuous demand from high-spending foreigners, especially those looking for long-stay residences and short-term tourism during the high season at the end of the year. This will be a key driver to help ASW achieve its sales target of 19.5 billion baht as planned.

Another highlight for ASW in the second half of the year is the completion of new projects, with plans to gradually transfer ownership and recognize additional revenue from three projects: 1. THE TITLE Legendary Bang-Tao, a vacation condominium near Bang Tao Beach, another flagship project of the company valued at 4.5 billion baht, which has already achieved over 88% sales and has begun to recognize some revenue earlier than planned at the end of Q2; 2. Maroon Ratchada 32, a new condominium on the last plot of land in Ratchada 32 valued at 900 million baht; and 3. Kave Wonderland, a new campus condominium opposite Thammasat University Rangsit Center valued at 2.55 billion baht.

Asset Wise Public Company Limited (ASW) is engaged in real estate development, focusing on high-rise and low-rise residential projects in high-potential locations under the concept of "Happiness Designed for You" or "We Build Happiness." The company has developed over 80 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 the brands under Rompho Property Public Company Limited (TITLE), a subsidiary of ASW, with a total project value exceeding 132.704 billion baht, comprising 24 completed and ready-to-move projects and 22 projects currently open for sale and under development. As of the end of Q1 2023, ASW had a backlog of sales awaiting revenue recognition valued at over 30.636 billion baht.