Siamese Asset Public Company Limited (SA) has targeted its three-year revenue to achieve 10 billion baht by 2025, focusing on revenue balance from high-rise and low-rise property projects at the ratio of 50:50 as well as increasing ratio of recurring income to an approximate of 10 - 15% of the total revenue. "Mr. Kajonsit Singsansern", CEO, plans for 5 new low-rise project developments worth 7 billion baht and 1 high-rise mixed use project while having backlog forecast of more than 6.5 billion baht. Also, other businesses benefit from the return of international tourists and investors as well as the government's economic stimulus policy to drive its performance to achieve the target.
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited (SA), an integrated property developer disclosed the Company's 3-year business operation plan (2023 - 2025), focusing on creating balance between revenue from property sales and revenue from other related businesses as a model adjustment for risk management and stable growth establishment. The plan aims for business growth in 2025 with the revenue expectation from property development project sales of no less than 10 billion baht. The revenue from both low-rise and high-rise project is at the ratio of 50:50 and from other relating businesses around 1.7 billion baht. It is expected that within the next 3 years from now, the recurring income will be at 10-15% of the total revenue.
"The Company has a plan for property development of both low-rise and high-rise projects by focusing on uniqueness and differentiation of each project to serve demand of each targeted group of customers. Innovation and facilitation are also applied to create distinctiveness to the projects and enhance quality of living surrounded by good environment, matching demands for residence and long-term investment", said Mr. Kajonsit.
SA Chief Executive Officer added that in 2023, the Company's strategic planning for low-rise project development had focused on modernity, technology, and innovation for living and living facilitation under the concept of Asset of Life, providing profit of every living. There will be project development plan for 4 new low-rise projects, worth totaling 7 billion baht, consisting of 1) Siamese Kin Ramindra (Phase 2), a semi-detached house and townhome project of 36 units, starting from 6-10 million baht, worth totaling 250 million baht; 2) Siamese Holm Phahonyothin-Vibhavadi, a singled-house project of 192 units, starting from 8-12 million baht, worth totaling 1.7 billion baht; 3) Siamese Blossom Phahonyothin-Vibhavadi, semi-detached house and townhome project of 445 units, starting from 2-5 million baht, worth totaling 1.7 billion baht; and 4) Monsane Ratchapreuk, a luxury singled-house project of 175 units, starting from 15-25 million baht, worth totaling 3.3 billion baht.
The strategy for high-rise project development focuses on mixed use projects of which some areas of the project will be allocated as commercial space for rent and hotel room and service residence as revenue allocation receiving from several sources. There will be 3 projects, i.e. Wellness & Healthcare @Talingchan project and others 2 projects in prime location in Bangkok worth 11.4 billion baht, planned to be launched.
There are also 8 completed projects (under the process of ownership transfer) worth 20 billion baht and 5 under construction projects worth 19.5 billion baht. The total backlog of more than 6 billion baht will be gradually recorded until 2025.
In addition, other businesses consisting of hotel, rental, food and beverage, healthcare, residential technology, and financial and investment businesses are likely to continue to grow from the previous year due to the return of international tourists and investors, as well as the government's economic stimulus policy.
"We are determined to build strong growth through new project development and other businesses to position SA as integrated property developer by adding value to existing assets and expanding outstanding growth businesses. The Company is confident that those strategies will support its operating results to achieve remarkable growth with stability and sustainability", Mr. Kajonsit concluded.
Source: IR Network