Real estate firm Plus Property earned profits of THB 965 million last year, an increase of 31 percent from the previous year.
The company’s strategy for 2016, it revealed, is to concentrate on the markets that have a competitive advantage.
It sees the property market is likely to expand marginally in 2016, due to the government’s property stimulus measures and the low interest rates. Risk factors include high household debt levels, droughts and higher land prices, but these factors will not affect the upper-class with high purchasing power, who have recently started to invest more in high-return properties abroad such as in New York and London.
Poomipak Julmanichoti, Managing Director of Plus Property, revealed the company has seen remarkable growth in 2015, as it concentrated on markets where it has a competitive advantage. Major revenues in 2015 came from property sale services from four high-end condominium projects of Sansiri (The Monument Sanampao, The Line Chatuchak-Mo Chit, The Line Sukhumvit 71 and The Line Ratchathewi), worth altogether THB 12 billion, with sales of other real estate projects valued at THB 10 billion in total.
In resales, Plus Property was able to close sales with the combined values of THB 4 billion in 2015. The three projects with the highest rise in value included Pyne by Sansiri, whose resale rates rose 80 percent to an average price of THB 265,000 per sqm; Siri @ Sukhumvit which was up 57 percent to average THB 167,000 per sqm; and Quattro, an increase of 43 percent to the average rate of THB 212,000 per sqm.
“Regarding the business strategy for 2016, we will concentrate in the market that we have competitive advantage. Our strength as the full-service professional property and facility management agency, and thorough understanding in the Thai culture prompt us to cater to the needs of the customers professionally.
‘We will also focus on distributing up-to-date real-estate information and survey findings through more channels, as more customers are interested in offshore investments in real-estate to diversify risks from fluctuating stock markets and low-return bonds to assets under the world’s major currencies such as the US Dollars and the British Pounds.”
