- Sansiri demonstrated its strength in the real estate industry with total sales for 2022 surpassing 50 billion baht, a 49% increase from the previous year. Additionally, total transfers exceeded their target at 36.8 billion baht, driving impressive revenue and profit growth.
- The company’s plan is to make a strong advance in 2023 with the launch of 52 new projects worth a total of more than 75 billion baht — a value surpassing all previous annual project launch records.
- This year’s sales target is a whopping 55 billion baht, with the goal for annual revenue set at 40 billion baht. The company has announced its intention to achieve historic “all-time high” revenue and profits this year.
- Sansiri’s strategy involves vigorous business expansion to support economic recovery — made possible by the competitive advantage enjoyed by the Sansiri brand — and leveraging the company’s strong position during revival of the foreign market. This reaffirms the company’s position as Thailand’s leading real-estate brand in the minds of foreign customers, with foreign sales totalling 12 billion baht. In addition, Sansiri is committed to serving society and preserving the environment, aspiring to become the first real-estate company in Thailand to attain ‘Net-Zero’ classification.
Mr. Srettha Thavisin, President and Chief Executive Officer of Sansiri Public Company Limited, noted that 2022 marked the year in which Thailand’s economic recovery from the severe COVID-19 pandemic became more evident, with the primary contributing factor being ready availability of vaccines. The reopening of the country to tourists was also a significant contributor. However, full recovery is still not complete, presenting business opportunities and risk factors that must be monitored and prepared for. These factors include the pace of recovery in other countries, which could affect businesses in Thailand; the rising prices of energy and consumer products, putting pressure on costs and contributing to increased inflation; and rising interest rates. Although the past year has been a challenging one for business operations under volatile economic conditions, Sansiri is in a strong position to move forward sustainably and achieve its goals, with total sales as high as 50 billion baht, marking an almost 50% growth from the previous year, and increased transfers totalling 36.8 billion baht.
“Sansiri is determined to grow its business in 2023 while continuing to prioritise the wellbeing of society and the protection of the environment. We believe this will help to ensure sustainability well into the future. The company plans to launch 52 new projects with a value exceeding 75 billion baht, which will set a new record for the highest value of project launches in history. This includes 30 horizontal projects and 22 condominiums. The sales target for 2023 is set at 55 billion baht, with a revenue of 40 billion baht, which will also be a historical high, as well as a net profit target that is expected to reach an all-time peak since the inception of the company,” Mr. Srettha reiterated.
Mr. Uthai Uthaisangsuk, Chief Operating Officer of Sansiri Public Company Limited (SIRI), revealed that Sansiri will advance sustainably this year with a strategic approach that consists of three key elements. These include: a full-scale business expansion to aid the industry’s recovery with the launch of 52 new projects valued at up to 75 billion baht, the highest value of project launches on record, which represents a growth of 74% from the previous year and a 10-fold increase compared to pre-COVID-19 levels. The new projects will cover a range of products, including condominiums, single houses, semi-detached houses and townhomes. With regards to horizontal developments, 30 projects valued at a total of 50.7 billion baht will be launched, with the most prominent project being Narasiri Phahol-Watcharapol, worth 5.3 billion baht. This follows the success of Narasiri Krungthep Kreetha, which sold out last year within just one month. This serves as a strong testament to Sansiri’s position as market leader in the luxury real-estate segment in Thailand, reflecting the confidence and trust of high-end customers in both the brand and the quality of its projects, as well as a clear understanding of the company’s own identity and refined taste in residential properties. Sansiri also plans to further develop the success of the “Bugaan” brand by launching three “Bugaan Exclusive Residence” projects in three prime locations, Krungthep Kreetha, Pattanakarn and Rama 9-Mengjai, worth a combined total of 3.6 billion baht. The first project, Bugaan Krungthep Kreetha, will launch at the beginning of the sales period during 25–26 February.
Sansiri will also expand on its successful single-house developments in the luxury segment, including the upscale brand “Setthasiri”. This year, there will be a major development of Setthasiri aimed at a younger demographic, with prices ranging from 12 to 25 million baht. Setthasiri Donmueang’s new series will feature four house designs embodying the “Portrait of Success” concept, with a Georgian style reminiscent of grand American mansions that retain their classic façades, as often seen in houses bearing the Sansiri brand. Setthasiri Donmueang is located in the Donmueang area, just 2 minutes from Donmueang Station along the Red Line and 5 minutes from Donmueang Airport. The project features houses starting at 13 million baht* and is set to launch sales in May of this year.
The “Saransiri” brand is building upon last year’s success of its “Modern Farmhouse” design series that featured first family home single-detached houses, leading up to the launch of four new Saransiri projects with a combined value of almost 10 billion baht. In addition, Sansiri is further expanding its portfolio with mixed products, including single houses and townhomes, under the “Anasiri” brand, with a total of nine projects in two distinctive designs — Japanese and Mediterranean.
This year, the company is scheduled to inaugurate nine new Sansiri brands that will cover all segments and grow the company’s portfolio to strengthen its ability to address all needs and price ranges. The Sansiri Luxury Collection will help to exponentially expand the company’s luxury products and includes the brands “No.19”, “Sirinsiri”, “Narinsiri” and “Ombre” in the premium segment. New condominium brands, including “HUB” and “Cabanas”, located in Hua Hin, will gradually be launched this year to reinforce Sansiri’s “Forward Thinking Brand” credo and the company’s reputation as a first mover.
Sansiri will launch 22 additional condominium projects worth a total of 24.3 billion baht, representing a growth of 151% from the previous year. The highlight this year is the launch of Sansiri’s new luxury condominiums in sought-after mid-town locations, such as Ari and Ratchathewi. Furthermore, the company’s new condominium brand, “Cabanas Huahin”, will be introduced and promises to stand out as a one-of-a-kind project in the prominent location. Sansiri will also launch two new lifestyle-brand condominiums in the Sukhumvit area during Q1 of this year. The properties will be marketed under the refreshed “Dcondo” brand, which is the company's top-ranked condominium brand offering affordable prices. The brand has been well received by customers over the past 13 years, with excellent sales and developments in areas that have attracted a new generation of customers. This year, Sansiri aims to modernise the brand according to its “Stay Well-Rounded” concept, with condominium projects that put greater emphasis on resident well-being and feature “Safe Zones” designed to promote physical and mental health. The launch of the new Dcondo series, worth a total of 5 billion baht, across five prime locations throughout the country will kick off with two projects — one in Hat Yai and the other in Phuket — to support real demand and the improved tourism industry. Dcondo Reef Phuket, with a starting price of 1.59 million baht*, is situated in a prime mid-town location near Patong Beach, Phuket’s renowned tourist and lifestyle centre. Dcondo Sand Hat Yai, with a starting price of 1.79 million baht*, is located in downtown Hat Yai, which connects to Kanchanavanich Road. The official launch of both of these Dcondo projects is scheduled for March.
Sansiri is currently focusing its ongoing forays into the provinces on six main areas: Hua Hin (Prachuab Khiri Khan), Chiang Mai, Hat Yai (Songkhla), Khon Kaen and Chonburi. These provinces have proven successful for Sansiri in the past, with its brand positively received due to its well-designed projects that meet real needs of customers. This year, 12 projects worth a total of 8.5 billion baht will be launched, with Sansiri concentrating its efforts on catering to all segments in each location and managing costs as efficiently as possible. In addition, Sansiri aims to capitalise on its success by expanding the “New Sansiri Communities” concept. This builds upon the successful introduction of the “Complete Residential Society” at Sansiri development locations, such as T77 Community and Krungthep Kreetha Community in the past year. The sites at which the concept will be expanded to include Bangna-Lake 26 Rangsit-Bangpoon, Bangkok-Pathumthani, Ratchaphruek-346, Rama 2-Wongwaen, Pracha-Uthit 90, and Westgate
Number One in the International Market
Sansiri is poised to capitalise on the favourable conditions following the revival of the foreign market by setting its sales and transfer targets for this year at over 12 billion baht, a 54% increase from the previous year’s foreign sales revenue of 7.8 billion baht. As Thailand’s first real estate company to venture abroad, dominating the market for over 11 years and earning a high level of confidence among foreign customers, this will reinforce the company’s position as the top real estate developer in the foreign market. Recognising the increasing purchasing power of potential customers in CLMV countries (Cambodia, Laos, Myanmar, Vietnam), Sansiri’s foreign market strategy this year involves penetrating CLMV segments to expand its customer base beyond China, Hong Kong, Taiwan, Singapore and Russia.
Net-Zero
Sansiri is committed to its environmental mission and aims to become Thailand’s first real estate company to achieve “Net-Zero” status, which means it would emit zero greenhouse gases. In 2023, Sansiri will move forward with developing its “Low-Energy Community Model” using Burasiri Krungthep Kreetha as an example project. This will begin with the use of green materials for residential developments and the installation of solar panels in every house, solar lighting in common areas, EV chargers in common areas and houses, and the planting of perennial trees and shrubs in common areas. This process is the responsibility of Sansiri’s dedicated “Team for Net-Zero Homes”. Most importantly, Sansiri will ensure that all new projects use clean energy, with the installation of solar panels in common areas and houses. Lighting in gardens of all projects must be solar-powered within the year. The goal for this year is to install solar panels in 1,100 houses, with another 1,500 houses planned for next year. Sansiri is also promoting the use of battery-powered electric vehicles (EV) and aims to install EV chargers at all new Sansiri projects in all segments. This year, the company aims to install EV chargers at 650 houses, with another 750 houses scheduled for next year.
Sansiri will continue to support positive campaigns that benefit society, such as the “Zero Dropout” project, now in its second year. The ultimate goal is to ensure that by 2024 there are zero children in the province of Ratchaburi who drop out of the educational system. The company will soon be collaborating with a world-class partner to assess and rectify the problem of children in Ratchaburi not completing their education. Another campaign is “Live Equally”, which supports equality for all and is now in its fifth year. This year, Sansiri is set to expand its cooperation with partners who support the idea of “Waste to Worth” and place importance on the separation of trash for reuse and recycling. The company also aims to reach its target of reducing household waste among its residents. To achieve this, it will collaborate with like-minded partners and encourage residents and all involved to actively sort and separate waste. Sansiri is determined to grow its business while working towards improving the environment, enhancing quality of life, and making a positive impact on society, all of which are interrelated objectives.