25 January 2010

Sansiri releases 2010 plans, including 70 diverse projects,
and launches 20 residential developments worth 27 billion baht

The Sansiri Group released its 2010 business plans, continuing its partner business strategy and launching 20 new and comprehensive projects valued at approximately 27 billion baht. About 70 projects are in the pipeline for this year, with a sales target set at 20 billion baht. A pre-sale back log of 16.5 billion baht will help boost revenue over 1 to 3 years, along with sales of 8 condo developments in choice locales such as the central business area and along expanding mass transit routes. The first quarter will witness the launch of mid-range to premium projects with a combined value of 2 billion baht. Also, if sector specific investments and the stock market return to normalcy, the firm is prepared to increase capital.

Mr. Settha Taweesin, Managing Director of Sansiri Public Company Limited commented that in 2009, the company and its subsidiaries expanded its investment in the development of integrated real estate products and undertook 60 new residential projects. Such ventures were highly successful, resulting in about 3,420 new units with a combined value of 16 billion baht, an impressive feat in the Thai real estate industry.

"2009 was a year where the Sansiri Group met much success due to its marketing efforts with specific business partners, such as Thai Commercial Bank PLC and True Corporation PLC, to make life more convenient for Sansiri residents. For 2010, Sansiri will keep forging such business alliances along the theme of Innovative Living to create new products catering to the residential market and focus on expanding services to meet customer needs. From products to after sales services, we will bring technological advances to our residences throughout Bangkok,” said Mr. Settha.

In addition, the Sansiri Group will continue to develop strategies based on a comprehensive plan to launch new residential projects. At least 20 projects, with an estimated value of 27 billion baht, are planned in choice residential areas. When combined with projects under development since the previous year, Sansiri and its subsidiaries will have 70 projects total, with sales estimates of approximately 20 billion baht this year.

In 2009, the Sansiri Group actively pursued the leadership role in the real estate business in Thailand, with expansion of residential developments and provision of real estate services that meet the needs of diverse customers in all market segments, from mid-class to premium condominium, detached housing and town house projects. Its subsidiary Piwattana Company Limited is developing single homes and town houses in the 2 to 5 million baht price range, including Habitia Rachapruek, Habitia Bang Yai, Habitia Panya Intra, and Habitia Wongwaen – Ramintra.

Also, Prompt Pattana Property Limited is developing single and twin homes in the 1. 99 to 3 million baht price range, including Baan Prompt Pattana Ramintra, Baan Prompt Pattana Green Nova Ramintra, and Baan Prompt Pattana Rama 9 – Wongwaen. Red Lotus is handling residential resort homes that are comprised of both single and town houses in Hua Hin. Each project has been successful, receiving positive feedback from customers. Plus Property Limited, a real estate agency, and Touch Property, a comprehensive real estate services provider, have also performed very satisfactorily.

"As for plans to develop integrated housing, Sansiri Group will be gradually introducing projects in 2010, including 10 detached housing projects with an estimated value of 12 billion baht, 8 condominiums with a value of about 13 billion baht, and 2 town house developments worth roughly 2 billion baht. In total, this represents 27 billion baht. Clearly, Sansiri is expanding its business this year, with aims of becoming the market leader in the development of all types of housing. In the first quarter, the company will launch condominium sales to suit lifestyle needs of urban customers in the mid-class to premium segments, with a value of 2 billion baht,” remarked Mr. Settha.

Mr. Settha added that the current economic circumstances and real estate trends are likely to continue to improve. The company expects to increase its capital once the investment climate has improved and stock market performance has normalized. Measures regarding tax decreases have also helped the real estate industry, stimulating demand. Whether such buyer incentive will be extended is in the hands of the government.

Sansiri Group currently has about 16.5 billion baht in sales that will be realized in 1 to 3 years. This is a record in advanced sale figures and it helps build long-term stability for the company, despite fluctuations in the economic conditions.

 

 

Public Relations
Sansiri Public Company Limited