Sansiri is looking to rewrite the record book with its 2023 plans. The developer said it intends to launch 52 new projects worth THB75 billion combined. That total would far surpass the highest-ever value of new residential development launches in Thailand. Pruska currently holds the record for when they launched THB59 million worth of projects in 2017.
But that isn’t the only record Sansiri is looking to break. The homebuilder wants to beat its own single-year presales and revenue marks and has set targets of THB55 billion and THB40 billion, respectively. This optimistic outlook comes despite concerns about Thailand’s economic recovery.
“The recovery this year might not be as strong as expected because of many risks, including an economic revival of many countries that will have an impact on Thailand. Another risk is soaring energy and commodities prices,” Sansiri President and Chief Executive Srettha Thavisin told the Bangkok Post.
Sansiri has focused on building up its land bank in recent years which is another reason the firm is being aggressive in 2023. Should the economic recovery be better than anticipated, the developer could even surpass initial plans.
“We can launch new projects of a greater number than we announced today but this will largely depend on the market situation. We also have sufficient capital to do so as we issued the largest debenture in the property sector,” Wichan Wiriyaphusit, Sansiri Chief Financial Officer, NOTED.
The homebuilder revealed that 30 of its launches will be low-rise housing developments. This total is comprised of 18 single detached house projects, three townhouse projects and nine mixed housing estates. Additionally, the company is set to introduce a new concept, Sansiri Communities, in eight locations this year.
Finally, Sansiri is expected to continue its move into the affordable condominium market after the developer launched 12 projects in that segment last year.
Related: Bangkok housing demand remains strong during first three quarters of 2022