The Thai real estate industry is about to shake! Eastern Star Real Estate Public Company Limited, or ESTAR, is not just a follower of trends but is set to transform the industry by announcing a significant strategy in 2025 under the concept of Creating What's Different. This includes the launch of 4 new luxury projects valued at over 3.5 billion baht, strategically located in two prime areas: Bangkok (Kanchanaphisek-Putthamonthon Sai 1) and Rayong (Ban Chang), along with establishing a business foundation to generate recurring income, marking a choice to 'create a new game' that is sustainable and full of value.

Creating What's Different: A New Phenomenon for ESTAR that 'Doesn't Play by the Old Rules'

Mr. Pairoj Watanaworodom, Managing Director of Eastern Star Real Estate Public Company Limited, revealed the vision that 2025 is a crucial turning point for ESTAR, not merely following general market trends but 'creating a new game' that is stronger and more sustainable. The idea is that real estate development is not just about selling residences but about 'delivering quality of life and living experiences that truly meet the future needs of people.'

“ESTAR believes that true growth should not be limited to revenue figures but must create shared value for customers, society, and the organization sustainably. The Creating What's Different strategy is meticulously planned through 4 main pillars:

  1. Segment (Focus on high-potential target groups): Targeting the High Net Worth and Mid-High Segment, which consists of consumers with high purchasing power looking for residences that meet superior lifestyle needs.
  2. Speed (Operate at the right timing): Planning to launch new projects in the 3rd - 4th quarters, which is a time when the market is lively and ready for investment.
  3. Quality (Enhance design quality): Presenting premium designs that focus on functionality that truly meets the lifestyle of residents, with meticulous attention to detail.
  4. Connection (Connect to potential locations): Creating a network of high-quality residences in prime locations in Bangkok and Rayong to meet diverse needs and create opportunities for access to key areas.

Launching 4 Luxury Projects Worth 3.5 Billion in Prime Locations

ESTAR reinforces its strength in developing luxury horizontal projects, especially in Rayong, which has seen remarkable success from the Velana Hide U-Tapao-Ban Chang project, achieving a first-phase sales and transfer rate of 95%, along with the Grand Velana Pool Villa, which sold out 100% within just 3 months! These successes are proof of understanding market demands and the ability to develop appealing projects. Recently, ESTAR is ready to continuously launch new projects in 2 prime locations: the Eastern region: Rayong – a land of opportunities and future potential. Mr. Pairoj pointed out the limitless potential of Rayong, which is not just an industrial city but a 'future location' equipped with quality of life.

Data from the National Economic and Social Development Council (NESDC) reinforces Rayong's prominence as the province with the highest per capita income in the country, with an average income exceeding 1.03 million baht in 2024 and a total GPP of 1.08 million baht. This reflects strong purchasing power and a rapidly growing economy. Furthermore, the housing market in the EEC (Eastern Economic Corridor) area is expected to expand by up to 34% of the national market, indicating strong demand, especially among mid to upper-tier buyers who are not directly affected by economic conditions. Additionally, the development of U-Tapao International Airport and the Eastern Aviation City on over 6,500 rai, set to open in 2029 and accommodate up to 60 million passengers per year, will create over 50,000 jobs, serving as a significant driver for housing demand in the area.

Given this abundant potential, ESTAR has launched 3 new projects in Rayong designed to meet luxury lifestyle needs:

  1. Grand Velana Crown U-Tapao-Ban Chang:
    • Project Value: 1.1 billion baht
    • Type: Premium single-family homes
    • Price: 11 - 20 million baht
    • Status: Open for sale since May, with over 70% of the first phase sold.

This is proof of consumer confidence in ESTAR.

  1. Grand Terra Prima Burapha Path-Sukhumvit:
    • Project Value: 200 million baht
    • Type: 4-bedroom single-family home on 72 square wah land, suitable for large families needing spacious living areas.
    • Price: 5 - 8 million baht
    • Status: Set to launch in the 3rd quarter of 2025.
  2. New Project under the Velana Brand (Burapha Path - Sukhumvit):
    • Project Value: 700 million baht
    • Type: French Villa design single-family homes that offer timeless luxury and elegance.
    • Price: 6 - 9 million baht
    • Status: Set to launch in the 4th quarter of 2025.

All 3 projects are designed with a focus on tranquility, greenery, and closeness to nature, while also being conveniently located near industrial centers, airports, and the Eastern Economic Corridor (EEC), making them the perfect choice for those seeking a balance between quality of life and economic growth.

Capital: Bangkok – The Gem of Success

In addition to Rayong, ESTAR is also preparing to launch a flagship project in Bangkok, the economic and social center of the country:

  • Grand Velana Crown Kanchanaphisek-Putthamonthon Sai 1:
    • Project Value: 1.5 billion baht
    • Type: Luxury single-family homes
    • Price: 20 - 30 million baht
    • Highlight: Outstanding with Modern European Classic design.

Under the concept “THE AESTHETICS OF SUCCESS,” which reflects a legacy of success, catering to high-purchasing power buyers looking for uniqueness and distinction.

    • Status: Official launch in the 3rd quarter of 2025.

Building a 'Strong Foundation': Recurring Income as a New Dimension of Growth

ESTAR is not stopping at developing residential projects for sale but is also taking a step further by creating recurring income to strengthen the business in the long term, establishing a more stable and sustainable foundation, with plans to develop projects in Ban Chang, including:

  • SEASTAR Serviced Apartment & Hotel: This project offers 23 rental houses and 114 units.

With an average occupancy rate exceeding 70%, indicating strong demand, and plans to expand by another 27 houses in the next phase to meet increasing demand.

  • The Sphere Sport Club: With 2 branches offering comprehensive equipment and various exercise classes, including Tabata, Pilates, Kickboxing, Aqua Fit, and K-pop Dance, catering to the lifestyle of health-conscious millennials. Currently, it serves over 50 corporate members and more than 500 regular users, with ESTAR targeting revenue from this segment of no less than 50 million baht this year and an average growth of 20% over the next 5 years.
  • “One Stop Living Service”: A comprehensive service covering home care, renovation, repairs, gardening, and even housekeeping services to create a truly comprehensive living ecosystem, which will enhance project value and maximize resident satisfaction.

 

Mr. Pairoj confidently concluded, "Ban Chang is not just a future economic location, but it currently has clear quality of life potential, with golf courses, a peaceful environment, and lush nature, while still being close to industrial centers and airports." He affirmed that ESTAR is ready to achieve the target of 2 billion baht in transfer of ownership this year, driven by transfer volumes in the first half of the year and a backlog ready for delivery of over 1 billion baht at present.

ESTAR is heading towards a significant turning point, 'realigning the organization' towards a new luxury real estate standard, with a forward-looking vision, sharp strategies, and a commitment to delivering the best quality of life to consumers, making ESTAR not just a 'player'

but a 'game changer' that will lead the Thai real estate industry into a new era that is truly sustainable and valuable.