Plus Property looks to overseas investment

"We target double-digit growth this year," managing director Poomipak Julmanichoti told a press conference yesterday.

Some of the company’s customers are interested in acquiring high-return properties in countries such as New York and London, where Sansiri has invested since 2010.

It bought its latest apartment in London last year.

The company and its Global Partnership counterparts – Corcoran Group Real Estate in New York and W H Baker in London – have joined hands to facilitate Thai customers and investors.

It will also help promote resale and leasing opportunities to customers in New York and London.

The target group is Thais who work abroad or have children studying abroad.

The company’s strategy for this year is to concentrate on the markets where it has a competitive advantage.

It sees the property market expanding marginally this year due to the government’s property stimulus measures and the low interest rates.

Risk factors include high household debt, droughts and higher land prices.

However, these factors will not turn off the upper class with high purchasing power, who have recently started to invest more in high-yield properties abroad such as in New York and London.

The firm’s revenue last year surged 31 per cent to Bt965 million, of which 45 per cent came from asset management – agency, resale and leasing services – and property sale services.

The remaining 55 per was from facility management of residential and commercial projects.

Plus Property manages 185 projects, up from 161 in 2014.

It closed resales worth Bt4 billion last year.