FRIDAY, March 29, 2024
nationthailand

Ananda banks on innovations for growth

Ananda banks on innovations for growth

Ananda Development, a leading real estate developer in Thailand, has been capitalising on innovations to strengthen its business in many aspects, ranging from the development of condominium projects to providing better service to customers.

The company’s chief executive officer Chanond Ruangkritya recently said that the technological advancement would gather speed in the next five to ten years and would play a greater role in revolutionsing the property industry in many aspects from the construction process to the enhancement of urban living. The company will keep adjusting to keep pace with the technological disruption.
Last year, Ananda announced a plan to become a UrbanTech company as part of its strategy to deliver urban living solutions to customers. 
It has also partnered with promising tech startups to provide innovative services to its condominium customers.
Besides the challenge of technology disruption, he said that condominium developers in the next five years might face more business challenges, including the current uptrend land prices in some locations of inner Bangkok. 
When condominium developers pay higher land prices, they will have to raise the price of room units accordingly, while the number of potential buyers with high purchasing power might not expand fast enough to match the higher room prices.
Part of Thailand's development depends on state investment in infrastructure projects under the government's 20-year strategy, which began last year. 
The plan consists of economic development and transportation development. 
These developments will result in the cropping up of new real estate potential zones such as city fringe area of Bangkok and the surburbs as well as in the Eastern Economic Corridor (EEC).
Ananda and its subsidiaries generated a total revenue of Bt2.820.5 billion in the first quarter this year, an increase of 21.9 per cent compared to the same period last year.
 

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