Pruksa separates business into two distinct units

Pruksa’s president for the premium market, Prasert Taedullayasatit, said the listed developer’s new structure, which came into effect on April 1, separated the residential business into two groups.
The first focuses on the lower and middle-market segments by developing homes priced up to Bt10 million.
This unit is headed by Piya Prayong, Pruksa’s president for the residential market.
“The other group focuses on the premium market, covering the development of residences priced above Bt10 million per unit. This I will cover myself,” Prasert said.
At present, up to 98 per cent of the developer’s revenue comes from homes priced below the Bt10-million mark, and the challenge for the company is to increase its revenue from the premium market to 10 per cent in the next five years, he explained.
Meanwhile, the company has also revised the positions of other members of the management team to support the restructuring of the business into a holding company.
Lersuk Chuladesa, who had been chief operating officer, is now co-chief executive officer, while the company has appointed Prasarn Trairatvorakul, the former Bank of Thailand governor, as its new independent director.
“Our management restructuring will serve our business expansion and our new structure after the process of setting up a holding company is complete,” Lersuk said.
Under the new management structure when this process is finalised, the company’s current chief executive officer, Thongma Vijitpongpun, will be CEO of Pruksa Holding, as its current co-CEO, Lersuk, will be chief executive of Pruksa Real Estate, which will be a subsidiary of Pruksa Holding, he added.
The process of setting up a listed holding company will be completed by the end of the year, after last week’s approval of the move at |a shareholders’ meeting, Lersuk said.