"Sansiri" sweeps half-year sales of 25,000 million baht, growing 37% after launching a luxury-condominium ready-to-move-in project. Setthasiri aims to launch 10 new projects to reach 21,900 million baht within this year.

Mr. Wichan Wiriyaphusit, Chief Financial Officer of Sansiri Public Company Limited, revealed that the first half of 2023 is a very challenging year for Sansiri. from the economic situation in the country that has not fully recovered coupled with higher interest rates and household expenses Causing some consumers to postpone their decision to buy housing

However, Sansiri has foreseen the situation and is ready to handle the volatility of the real estate market. as appropriate As a result, the work can be satisfactory. in the first half Sansiri was able to generate sales of 25,000 million baht, an increase of 37% compared to the same period last year.

The new launch project Made better sales than expected in every project. Leading the championship with a luxury detached house project Like Narasiri Phahol-Watcharaphon and Bukan Krungthep Kreetha, which can generate very good sales. Building on the success of the delivery of super-luxury detached houses from Sansiri in the Narasiri Krungthep Kreetha and Bukan Yothin Pattana projects, which sold out quickly closed. in the previous period

In addition, from the demand for luxury homes which still has a lot of demand Coupled with the continuous purchasing power of customers, both projects located in potential locations with easy accessibility have received good feedback. Including the Setthasiri Don Mueang project, located opposite Don Mueang Airport and close to Harrow International School, received better feedback than expected as well.

In addition, Sansiri recently launched a campus condo near Bangkok University, the D Condo Hype Rangsit project, during the past week. It appears that 80% of the bookings have already been made, indicating that the first half of this year, new projects have received good feedback in all projects. Including many low-rise projects such as Saransiri Ratchaphruek 345 and Anasiri Srinakarin-Praksa, etc.

As for ready-to-move condominium projects, they started selling well. Reflecting that the condominium market is returning after the pre-Covid and post-Covid periods slower absorption. This is a very good sign for the condominium market. Because ready-to-move-in condominiums are good indicators in the Real Demand market because customers buy to live by themselves or rent out. It is not a speculative purchase or artificial demand in the sales of such condominiums.

Mr. Wichan further said that in the first half of the year, Sansiri was able to achieve good sales. until the units are ready for sale (Stock) of condominiums is reduced to only 8,100 million baht from the stock at the beginning of the year at 11,000 million baht, which is considered that Sansiri has the best absorption in the market. For ready-to-move-in condominiums under the brands The Base, The Line, The Muve, XT, dcondo and CondoMe, etc. In the third quarter of this year, Sansiri is also preparing to close sales of 12 more projects in this brand of condominiums.

In addition, Sansiri continues to build financial discipline. for real estate business Cash flow is important. There are units that are ready to be sold or the stock has dropped a lot. As a result, Sansiri is able to repay bank loans from ready-to-move-in condominium projects 100%, which means Sansiri has no obligation to repay in the ready-to-move-in condominium segment. Having financial discipline has been an important philosophy for Sansiri in operating its business for almost 40 years, making Sansiri in the group of good and quality debtors. It has always been trusted by banks and investors.

Regarding debt repayment faster than scheduled, it's equal to Sansiri. Can reduce financial expenses in the body as well. At present, Sansiri has a liquidity of more than 17 billion baht, making it one of the most financially strong real estate developers.

“Sansiri still aims to develop projects to meet the needs of customers in all segments. continuously under the concept of "YOU Are Made For Life", the strategy for launching products in each group can be adjusted as appropriate By using market information as a guide, this year Sansiri will focus on developing luxury residential projects that continue to receive good feedback continuously.”

while the condominium market that began to recover more clearly will have a positive effect on the sales and performance of the company while the establishment of the government that is completed In addition, tourism began to return to near pre-Covid levels in the second half of the year. that will result in the overall economic recovery And this is a positive factor for the real estate sector. As a result, Sansiri is confident that we will continue to perform at On Track to create new history with the best sales and performance of the company in the coming year.

for highlighting business plans in the second half of the year Sansiri will continually push single-detached houses under the Setthasiri brand. from strong cash flow and the good response of the luxury and super-luxury home market. Sansiri therefore proceeds to launch 10 more detached house projects under the Setthasiri brand, worth a total of 21,900 million baht, covering all locations, including Ram Inthra, Sai Mai, Seri Thai, Bang Na, Ratchaphruek, Prannok and Phutthamonthon Sai 1, etc., which are considered high-value projects. When combined with more than 10 new condominium projects that will be gradually launched in the second half of the year as the demand for condominiums gradually recovers clearly. Sansiri therefore has a chance to achieve sales exceeding the target of 55,000 baht as planned in the beginning of the year.

Source:https://www.thansettakij.com/real-estate/569932

Date 6/07/2023