Sansiri tells local media that it plans to launch 19 projects in 2017 and these will be worth a combined THB 41.2 billion. The company is aiming to secure 16 per cent growth in presales which would see Sansiri bring in THB 36 billion.
The property market will be sluggish again this year with the entire growth of the property market forecasted to be less than 5 per cent this year. That is one reason why Sansiri’s growth will be driven by its investment in venture capital and solely property.
“We will invest in property technology and look for innovations that can link to our core business,” tells Sansiri President Srettha Thavisin to the Bangkok Post. “The property technology will not only help reinforce and improve our existing operations but also become our new income stream in the future.”
According to the newspaper, Sansiri will set up a data analytics and business intelligence centre as a new business unit as it looks to progress into the digital age and utilise enterprise data. The new unit will apply advanced data analytics and digital tools across its value chain.
The company will launch 8 condominiums worth THB 21.9 billion and 9 single house projects worth THB 18.5 billion. There are also plans for 2 townhouse sites worth THB 800 million. 4 of the new condo projects will be developed via a joint venture with BTS Group and those are valued at THB 12 billion. All of the new sites being launched in 2017 will be located in Greater Bangkok. Sansiri will avoid projects in Thailand’s provinces for the time being.
“Sansiri currently has total inventory worth a combined THB 3-4 billion in the provinces,” says Chief Operating Officer Wanchak Buranasiri. “About 90 per cent are condo units, which have been complete since 2015. We were very aggressive in the provincial property market in 2012-13. But after a drastic change in the political situation, the market has been sluggish.”
