Thai property developer Sansiri recorded a massive 222 percent growth in sales last year, revenue expected to surpass the company’s previous record and recording sell-outs at all of its condominium projects.
Sales to foreigners were also above target, according to the company, and it also revealed 21 new projects worth THB 50.5 billion will be launched this year – 128 percent higher than last year.
Its new emphasis will be on high-end market and new markets abroad, with preparations underway to enter the China market. A much-anticipated flagship ready-to-move-in condominium on Wireless Road will also be launched.
Improved closing activities resulted in the company earning THB 3.5 billion from sales to foreign customers – 135 percent higher than the 2014 figure. Most foreign customers (83 percent) were from Asian countries, namely, Japan, Hong Kong, Singapore, Malaysia, China and Taiwan. About 11 percent were from European countries such as Russia, England, France, Germany, the Netherlands and Italy. Those from Australia and America made up about 4 percent.
The most attractive project for foreign buyers was The Line Sukhumvit 71 where foreign buyers accounted for 30 percent, followed by The Line Jatujak-Mochit at 28 percent.
A spokesperson for the company said: “In 2016 it is Sansiri’s challenge to grow sales and to sustain a healthy return for investors in the climate of economic stagnation both locally and globally. The company has laid out a business plan to develop real estate projects to support the needs of customers both in Bangkok and the provinces as well as foreign customers.”
It has set total sales for the whole of 2016 at THB 42 billion which will be 50 percent growth from 2015. Total revenue is expected to be about THB 36 billion baht.