Plus Property eyes 15% revenue growth after hiking quality, fees
Plus Property Co targets growing its revenue by 15 per cent this year to Bt500 million after improving service quality and hiking its fees by about 10 per cent.
Apichart Chutrakul, chief executive officer of the property-management arm of residential developer Sansiri, said yesterday that the company had enhanced its service quality early this year, which supported the rise in service fees of about 10 per cent.
Its services include management of property for sale and rental, facility management for buildings, and unit management for residents.
The company has 153 residential projects under management, of which 13 worth Bt8.5 billion are for sale and rent, 130 are for property management and 40 are for facility management. Half of its property-management customers come from Sansiri's residential projects.
The company reported revenue of Bt335 million for the first eight months of this year, with Bt125 million coming from acting as the agent for property for rent or sale, Bt136 million from property management, Bt73 million from facility management and Bt500,000 from other businesses.
Property management shows good business potential as both the economy and the property market are growing. Most home-buyers and owners have to take care of their buildings, facilities and environment to be ready for occupancy.
The company continues to project single-digit growth next year.
"We don't aim to increase our portfolio. We want to raise our quality to increase fee income at a time the market is facing high competition from both local and global property-management firms that are entering the market," Apichart said.
