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Sansiri Public Company Limited (SIRI) reinforces the Company’s strength in the real estate business under the “Step Beyond” concept – sustainable growth in all dimensions under three key organisational drivers, PROFIT – PEOPLE – PLANET to prompt strong profit as manifested by the H1/2022 performance accumulating sales of over 18.3 billion baht, or 52 percent of the year’s sales target of 35 billion baht. In Q2/2022 alone, sales topped 11.1 billion baht, or a growth of 54 percent compared to the first quarter’s sales of 7.2 billion baht.
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The main driver was the sales of horizontal projects where the figure topped 12.7 billion baht, or 74 percent of the total half-year sales. So much so that six single-detached-house and townhome projects were sold out! The total transfers for the period reached 14 billion baht in value.
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The Company announced the “Speed to Market #2” strategy that means quick market awareness and the readiness to quickly adapt to every situation in anticipation of the real estate market revival and the increased demand from foreign customers in response to the positive economic trend as the country reopens and the number of international flights increases along with the number of foreigners’ arrivals. A total of 31 projects worth altogether 31.2 billion baht are in the pipeline.
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For H2/2022, the Company puts the emphasis on four strengths “Leader in the luxury market – Reclaiming leadership in the condominium market – Leadership in aftersales service – Leadership in returning benefit to society” – to stress the true leadership in housing development where Sansiri has retained its position as the “No.1 housing brand in the hearts of customers”. This is because to remain the No.1 brand, PROFIT must come together with PEOPLE and PLANET.
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To remain strong in the longer term of three years through the goal to launch new projects with a total value of 150 billion baht and the total sales target of 120 billion baht. The total sales and transfer targets for this year have been set at 35 billion baht apiece along with the aim to return the benefit to the society and to help protect the global environment.
Mr. Uthai Uthaisangsuk, Chief Operating Officer & Director of Sansiri Public Company Limited (SIRI), revealed that Sansiri’s strength in the real estate business has been derived from the advance under the “Step Beyond” concept to grow sustainably in all dimensions under the three key organisational drivers of “PROFIT – PEOPLE – PLANET”. This has resulted in Sansiri’s strong performance in the area of PROFIT. In the first half of the year, the Company achieved total sales of as much as 18.3 billion baht, or 52 percent of the year’s total sales target of 35 billion baht as obtained from the launches of a total of15 projects worth altogether 18.8 billion baht. The majority of sales totalling 12.7 billion baht, or 74 percent of total, in the first six months of the year were achieved at horizontal projects with “sold out” success at six single-detached-house and townhome projects in Bangkok and upcountry. For condominium projects, sales topped 5.6 billion baht. The Company’s sales performance in Q2/2022 reached 11.1 billion baht, or a growth of 54 percent over the first quarter sales figure of 7.2 billion baht. Furthermore, Sansiri also posted an exemplary transfer figure in the first half of the year of 14 billion baht, or 40 percent of the total transfer target of 35 billion baht, with the transfer target ratio of horizontal project vis-à-vis condominiums of 65:35. In addition, Sansiri also has in hand a backlog of transfers for this year worth 10.5 billion baht. Therefore, as the remaining additional transfers that need to be achieved is only 10.5 billion baht, the Company is confident that the transfer target will definitely be met.
#No.1 brand for which PROFIT must be accompanied by PEOPLE and PLANET
In addition, Sansiri operates its businesses under the theme “YOU-centric” in which every YOU forms the crucial nucleus of Sansiri’s drive for employees, customers and the society. To be launched is the year’s major campaign, “YOU Are Made For Life” for which every YOU forms the nucleus in the project development and services of Sansiri, such as all Sansiri “Employees”. And that became the foundation of the cooperation between Sansiri, a leader in Thailand’s real estate business, and VVON SUGANNASIL, the leading brand in bespoke suits and ready-to-wear, to design new set of uniforms “YOUniform” for Sansiri employees. Also crucial are “Customers” who are a part of the nucleus of Sansiri’s important drive. For the first time in history is the cross-discipline cooperation between the two giants in their own fields – Sansiri and Kai Hua Ror – in the launch of one of this year’s major campaign – “This House Ha Ha Ha” – to induce some laughs and to support the task of allowing Thais to own homes more easily. Not to be neglected is another crucial factor – the “Society”, which forms the third part of the nucleus of Sansiri’s drive. For the first time, the three model organisations for equality have joined hands to further the “Live Equally” campaign under the aegis of the UNDP for the third consecutive year to together announce the stance in supporting equality and diversity, to create a new standard both in the work place and in the Thai society, and also to announce the new and very significant mission of “Zero Dropout – Schooling for all children” to leverage a big change in the country to reduce children’s dropout rate to “0”. On the part of the PLANET, Sansiri has mandated the “Net-Zero” mission by announcing the 2022 goals that every single-detached house, the common area, in every new project must 100-percent be installed with solar roofs, while all new upscale housing projects must be installed with EV chargers at 100 percent of the units. The Company is determined to become a real estate developer with “zero emission” of greenhouse gases. Most recently, Sansiri has initiated the “Sansiri Tree Story” mission to plant trees in Bangkok in its resolve to collect-select-plant-nurture in order to allow the business to grow in tandem with better environment including the better quality of life and improved society.
Announcement of “Speed to Market #2” strategy to support real estate market revival
The business development in the past six months have allowed Sansiri to recognise the demand for housing in the market and the future direction of the real estate market. This is due to the quick market awareness and the readiness to quickly adapt to every situation (Speed to Market), which is the main strategy that has strengthened Sansiri’s position in the past year amidst the COVID-19 situation as well as attesting to the Company’s tenacity. In the second half of this year, Sansiri expects to continue to move ahead of competitors with “Speed to Market #2” that consists of the launch of a total of 31 projects worth altogether 31.2 billion baht on the march towards the sales and transfer targets of 35 billion baht each, as well as the three-year goal of strong and sustainable growth with new launch plan worth a total of 150 billion baht and the total sales target of 120 billion baht.
The highlight for H2/2022 is the emphasis on four strengths:
“Leader in the luxury market – Reclaiming leadership in the condominium market – Leadership in aftersales service – Leadership in returning profit to society”
In addition to the H2/2022 business plan in which Sansiri expects to retain its strength with the “Speed to Market #2” strategy of quick market awareness and the readiness to quickly adapt to every situation in anticipation of the real estate market revival and the increased demand from foreign customers with the plan to launch new projects and highlighting the launch of new condominium and horizontal products under popular brands. Sansiri remains first in being the true leader in the housing market and the real estate champion as the “No.1 brand in the hearts of the customers” and the “No.1 brand amongst those wanting to own homes”. This reinforces the four strengths of Sansiri’s that will be manifested in the second half of the year, namely:
“Leader in the Luxury Market”
Sansiri is well-known as a leading real estate developer in the luxury and super-luxury markets in Thailand through its 38 years as a leader in the luxury market as proven by the experience and credentials collected throughout the years both in Thailand and abroad. This included the delivery of the epitome of posh residences through generations. The famous names included “98 Wireless”, “Baan Sansiri Pattanakarn”, “The Monument Thonglor”, “KHUN by Yoo Inspired by Starck”, and “BUGAAN Yothinpattana”. In the second half of the year, Sansiri is set to launch two new luxury single-house projects under the “Narasiri” brand – “Narasiri Phahol-Watcharapol” and “Narasiri Krungthep Kreetha” on the best sites in the best location of “Krungthep Kreetha Community”. Narasiri Krungthep Kreetha is set to become Sansiri’s flagship project for this year that will narrate the story behind the Narasiri brand once again after its 10-year history under “A Matter of Refinement” concept through the “rare item” project in the Sansiri Luxury Collection with the official launch scheduled for this October. Most recently, with the confidence in Sansiri’s development of projects at the ultra-luxury level, “Narasiri Krungthep Kreetha” already holds over 50 percent of pre-sales booking worth over 3.5 billion baht after only one month of “sight-unseen” sales launch in response to the customers’ demand after 10 years’ wait. The result is the quick sales at the project with residences ranging in price from 50 to 95 million baht per unit.
In addition, Sansiri continues to reinforce the Company’s leadership in the development of high-end single-house developments with the “Setthasiri” and “Burasiri” brands at the price range of from 8 to 20 million baht and the latest sales total of 4.8 billion baht. In the second half of this year, Sansiri is preparing to launch 4.3-billion-baht “Setthasiri Donmuang” project on 79 rai of land and to launch 4-billion-baht “Burasiri Krungthep Kreetha” on 85 rai of land on the Krungthep Kreetha Community location under the cooperation with Sansiri’s valued partner, Tokyu Group of Japan, who have shown interest in codeveloping housing projects after realising the high potential of the Krungthep Kreetha Community which is considered to be the prime residential community on the eastern suburb of Bangkok. This will be supplemented with the launch of 1.3-billion-baht “BUGAAN Krungthep Kreetha” on 19 rai of land in November.
Reclaiming “condominium market leadership”
Sansiri reinforced the success in the development of condominiums under “THE BASE” brand that have already closed sales at 18 projects worth a total of 33 billion baht. In the second half of this year, Sansiri is preparing to close sales at “THE BASE Riverview” featuring classic atmosphere in the heart in Charoennakhon area only 5 minutes to IconSiam mall and only 400 metres from BTS Klongsarn Station from where access to Silom and Sathorn CBD is very convenient. The launch is expected to take place in Q4/2022, most likely in November, and is expected to be enthusiastically received by Thai and foreign customers.
Also significant is the continued emphasis on the success of the development of flagship condominium projects which are considered to be amongst the best in Thailand and Southeast Asia – the “Condominium First Design-Branded Residence”, condominiums in the “Sansiri Luxury Collection”, as well as lifestyle condominiums. Most recently, Sansiri succeeded in the development of “affordable condominiums” that managed to totally reach targeted group as evident in the quick “sold-out” of projects under “THE MUVE” and “condo me” brands in the past year. For the second half of this year, Sansiri plans to follow up on the success of affordable condominium developments by getting set to launch four new “condo me” projects at four locations. Most recently, the sales at the pre-sales events of three condominium projects located on prime locations at the centre of communities and work places garnered over 500 million baht just over the weekend with sales mainly to the real demand group who wanted to own homes. “condo me Bangna-Bang Bor” was immediately sold out while “condo me Onnut-Rama 9” was 90 percent sold and the second phase of “condo me Navanakhon” was also well received.
Sansiri, as a leader in the condominium market, also excels in the prompt and on-time transfers of quality condominiums to customers. Within this year, the plan is to expedite transfers of four more condominiums, namely, “condo me Navanakhon Phase 2”, “THE BASE Phetchaburi-Thonglor”, “XT Phayathai”, all in October, and “THE MUVE Kaset” in December to ensure that the transfer target of 12 billion baht for this year is met.
Leadership in aftersales service
Sansiri claims the No.1 position as the Thai real estate brand in the hearts of the customers, with the distinction of being awarded “The Most Powerful of Real Estate Brand” in 2021 for four years in a row, topping the Brand Powerful Scores in all categories. The survey found that consumers searched for the Sansiri brand the most, expressing the wish to own homes under the Sansiri brand as perceived to be the best value, fulfilling residential lifestyle, as well as for the “Sansiri Service” that continues to deliver happiness to residents with compassion, covering from the very first day and all throughout the residency – all to deliver the convenience and peace of mind and answering the lifestyle needs of the residents and everyone in the family. Moreover, the health of the housing units themselves are well looked after throughout the warranty period through “Sansiri Home Care” – maintaining the house to always be in the good working order throughout the residency. The highlight of the service is the “Maintenance of a Healthy Home” activity, which Sansiri is considered to be the first and only one providing such a service in Thailand. All these have been the key success factor for Sansiri to maintain its position as the real estate brand in the hearts of the customers for four years running. Even more so, the confidence in the brand is further boosted with the LIV-24 innovative full-feature security technology to elevate the level of peace of mind for the residents in real time 24 hours a day. Another advanced innovation provided is the Sansiri Home Service Application for the customers.
Leadership in returning benefit to society
A fundamentally strong business organisation must help to protect Earth and take care of the society. Sansiri has initiated many projects to create smiles on the faces of the Thai people and has always taken care of Earth. These projects include “No One Left Behind”, the vaccination programmes for Sansiri employees and business partners, the support for SMEs, becoming a cog in the country’s machination against COVID-19, the support for construction workers and families at work sites, the support for elephants, and the help for farmers, etc. These programmes have their roots in Sansiri’s determination to become a sustainable organisation in every dimension, because today’s businesses cannot concentrate just on making profit but must create a balance of PROFIT – PEOPLE – PLANET, so everyone and everything can grow together. Also, Sansiri wants the business to grow together in the good environment, as well as the quality of life of the people and the society that can advance as one.
And this in essence, is what makes the Sansiri brand “The Preferred Brand in the Hearts of the Customers”.