Asia Property Report by Staff Writer

Thai developer Sansiri has announced 3Q sales of Bt5bn with year-to-date sales exceeding more than Bt14bn. With up to four new projects in development and a brand-building road show this month, the firm anticipates achieving total sales of Bt20bn by year´s end. Third quarter figures were especially robust, with sales of over Bt5bn, said Settha Thaweesin managing director of Sansiri. He added that to date, sales comprised condominiums in Bangkok’s central business district, single homes, town houses, and international property investments. The Sansiri Best Buy show last week is also expected to net more than Bt1bn, while plans are underway in 4Q to launch up to four new developments worth between Bt3bn and Bt4bn. “Of the Bt14bn sales figure, 48 percent is comprised of revenue from condominium sales, while the remaining 52 percent represents consistent consumer demand since last year for single homes,” said Settha. “August figures were especially strong, with Bt1bn sales from 145 single home units – a new record for the company. Consumer confidence is growing and there are also signs that an economic recovery is on the way.” He added that since the beginning of last year, Sansiri´s marketing activities had also helped to strengthen the company brand across all residential sectors. These included the recent partnering with Siam Commercial Bank to launch the SCB Sansiri Platinum credit card which grants special privileges to Sansiri customers – a first in Thailand´s real estate industry. The Sansiri Group also has a backlog of pre-sales receipts for various residential projects in excess of Bt18.4bn that will gradually be recognised over the 3 years. Up to Bt16.3bn or 91 percent of this figure will be converted this year – an important source of revenue for the future, said Settha. Projects being launch this quarter include two detached single home developments and two condominium developments. In addition, the company will host road shows at Siam Paragon, Central Chidlom, and Central Bangna. “The real estate industry has already begun to recover and this is because consumers have greater confidence in the political situation, which is showing more stability. Sansiri is now focused on expanding its offerings and developing its comprehensive services for our customer base,” said Settha.