Mr. Ongart Suwannakul, Assistant Senior Managing Director of Condominium Project Development Division at Sansiri Public Company Limited (SET: SIRI), revealed that the situation of the condominium market has returned to normal.
This statement is based on the company’s condominium total sales that returned to THB 300 million per week after going down to THB 200 million. After the earthquake, the company also reviewed its framework but kept the condominium sector’s original plan and ownership transfer goal, which was set at between THB 15 – 20 billion this year.
By the year’s end, the company plans to complete the construction of FLO By Sansiri, a high-rise condominium project worth THB 2.2 billion. As for the remaining construction, they will be for low-rise condominiums, with their progress following the schedule. Therefore, there would be no effect on the SIRI’s ownership transfer goal.
Currently, there are only condominium projects, valued about THB 7 billion, ready to be transferred. Its sales support and ownership transfer will begin within this year. Furthermore, SIRI still maintains the plan of opening 15 new condominium projects, total valued at THB 20 billion.
Following the earthquake, the company suspended its condominium marketing. Now that the pause is over, SIRI decided to maintain its estimated pre-sale revenue for this year at THB 19 billion.
Recently, SIRI began collaborating with partners from all sectors to improve the industrial standard and its operation. There has been a review on the real-life situations’ data, an adjustment of the construction standard guideline, a constant preparation and practice for emergency situations, a set up of emergency alarms and a constant examining to prevent any issues. The goal of this teamwork across the industry is to guarantee the safety of the living construction.
Mr. Ongart stated that the company not only survives but also must make the industry stronger by organizing the Sansiri Insight Talk “BEYOND THE BLUEPRINTS” 60 days after the earthquake. This event will inspire a collaboration within the real estate industry in Thailand to make it stronger and sustainable. The focus will be on the quality, the service, and the well-being.
