In a challenging market, developer Sansiri sees the bright side

WEDNESDAY, FEBRUARY 05, 2025
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Company’s ‘Dynamic Growth’ strategy to focus on new residential projects, expanding land bank

 

Thailand's leading property developer Sansiri has unveiled an ambitious "Dynamic Growth" strategy for 2025, focusing on new project launches, strategic partnerships and land bank expansion, while acknowledging ongoing challenges in the property market.

 

Speaking at a press conference on Wednesday, Sansiri president Uthai Uthaisangsuk outlined the company's plans, including a sales target of 53 billion baht and transfers of 46 billion baht worth of housing. Sansiri aims to launch 29 new projects, comprising both low-rise houses and high-rise condominiums (14 low-rise projects and 15 condominium projects), with a combined value of 52 billion baht.

 

The company also set its sales target at 53 billion baht and a transfer target of 46 billion baht.

 

"2025 remains another challenging year, especially for the real estate sector," Uthai said. "There are challenges in many areas. For Sansiri, as a major player and market leader, we are committed to driving the market and building confidence in the industry through our 2025 business plan under the concept of Dynamic Growth."

 

Uthai Uthaisangsuk

 

New projects will primarily be concentrated in inner Bangkok and along the Skytrain network, with Sansiri banking on the government's proposed 20 baht flat train fare scheme to boost demand for city centre condominiums.  
 

 

While the developer also has projects in other provinces, including popular tourist destinations like Phuket, Pattaya, and Khon Kaen, it has no immediate plans for further development in Chiang Mai and Hua Hin, where existing projects are still available.

 

In a challenging market, developer Sansiri sees the bright side

 

Despite a healthy land bank worth over 7 billion baht, sufficient for the next three years, Sansiri is allocating a further 2 billion baht for land acquisition in 2025, with a particular focus on Phuket, driven by strong demand from foreign buyers seeking second homes and holiday properties.

 

The company believes this international interest will also stimulate domestic investment in rental properties.
Joint ventures are a key component of Sansiri’s growth strategy, enabling the company to expand its investment portfolio and bolster cash flow. With four existing partners, including two Japanese investment firms and two Thai companies, Sansiri is currently in discussions with potential new partners.

 

In a challenging market, developer Sansiri sees the bright side

 

The move aligns with the company’s strategies this year. They comprise five key drivers: expanding luxury and premium housing in high-potential locations; accelerating new condominium launches in Bangkok; continued expansion in strategic locations, particularly Phuket; forging new joint venture partnerships; and a commitment to its green initiatives.  
 

 

Sansiri’s chief strategy officer, Poomipak Julmanichoti, acknowledged market uncertainties surrounding interest rates and consumer spending.

 

Poomipak Julmanichoti

 

However, he pointed to positive factors supporting the company’s growth plans, including second-hand home sales, the rental market, rising tourist numbers, and increased foreign direct investment. 

 

He also noted sustained interest in home purchases and potential boost from expanded public transport networks.
The company aims to reduce energy consumption in its luxury and premium projects by 50% and is investing in R&D for green products.

 

Beyond its core business, Sansiri reiterated its commitment to social responsibility, highlighting initiatives promoting equality, diversity and inclusion, as well as its long-standing support for education and community development.