Thailand property developer Sansiri ended 2014 on a strong note with revenue ranking among the industry’s top three performers – while at the same time leading the sales to expats and foreign investors.
Founded in 1984, the publicly-listed group has reported firm sales of its broad range of condominiums, single and semi-detached houses, and townhouses.
Apichart Chutrakul, CEO of Sansiri Public Co. Ltd.
Sansiri is notably prominent for its varied inventory of quality property appealing to expat buyers looking to invest in Thailand. Sales to foreign investors in 2014 totaled 322 units valued at 1,653,454,479 Thai Baht (US$50.65 million).
Chinese investors led the year’s sales figures, accounting for 25%, with 21% sold in Singapore, 6% in Malaysia and 3% in Hong Kong.
The same ranking applied to top 10 international buyers by value, headed by sales to Russia worth THB 346 million (US$10,280 million), followed by China worth THB 321 million (US$9.537 million), and Singapore at THB 211 million (US$6.463 million).
Among the foreign buyers, 80% (253) of the units sold were for renting and 18% (57) for personal use.
“Property prices in Thailand remain very attractive by international standards, for example at least four times cheaper than Singapore. With strong economic fundamentals, the market also offers good prospects for capital gains, with quality high-end and luxury projects in the best locations ensuring maximised capital appreciation in the long-term” said Sansiri CEO and Co-founder Apichart Chutrakul.
Cooling measures implemented by the Singapore, Hong Kong and Chinese governments on their local property markets have “contributed to investors considering alternative property investment in the region”, he added.
As an integrated property company, Sansiri says its aim is to provide one-stop solutions from property development to property services such as brokerage, holiday home rentals, property management and first-class concierge services.
“Sansiri has created new forms of seamless, high-quality, value-added properties and services of the highest standards, whilst also helping to improve overall quality of life,” said Chutrakul.
Looking into 2015, the company says it feels that there is still room for improvement, to increase profitability, and is embarking on an “Engineer for Growth” (EFG) business strategy.
“EFG will steer the company to strong and sustainable profitability in the long term. The goal is to generate annual profitability of 15% within the next three years,” added the Sansiri CEO.
With its motto “We construct a life, not just a building” the company also remains committed to its philanthropic endeavours, in order to establish sustainable relationship in a socially and environmentally responsible way, for business partners, communities and customers.
These commitments are underlined by the company’s various Social Change programmes, which include initiatives such as The Good Space, where child-friendly spaces are allocated on the company’s construction sites, so that the children of their workers have a safe place for learning, developing and playing. Specially created in tandem with the accommodation for the workers, these spaces are available for approximately 1,300 days – the average length of time for a project to be completed.