Thailand homebuilder Seacon Company Limited announced it expects a 28% increase in profits for 2022, hoping to make a staggering 2.4 billion baht in sales, as it prioritises luxury and high end properties. The ambitious sales target comes as Thailand’s first homebuilder company celebrates its 60th anniversary this year.
Last year Thailand’s homebuilding business significantly improved with a market value of 20 billion baht, a 67% increase from 12 billion bath in 2020, compared to 2.5 billion in 2019, said Seacon Managing Director Manu Trakulwattanakit.
Nearly 2 billion of Seacon’s estimated 2.4 billion baht in sales are projected to come from Seacon directly, with another 500 million coming from Seacon ID, a homebuilding company established last year to target self-build house customers with their own concepts. Seacon’s sales target for the year are more than 1 billion baht more than its 1.3 target for 2017, which shows just how confident the company has become despite two years of a pandemic economy.
“Key engines this year remain the upper-end segment, meaning units priced more than 7 million baht. Last year, this segment saw growth of more than 85% from 2020. … Demand from those who want a self-built home in their own style is on the rise.”
In 2021, Seacon racked up 1.88 billion baht in sales, a 41% increase compared to 1.33 billion baht in 2020. Seacon ID added an extra of 180 million baht to the company’s revenue, with the majority of sales coming from high-end units costing more than 20 million baht.
The majority of the sales (55%) last year came from large houses with an area of 351 square metres or larger. Medium housing (35%) came in second with an area of 200-300 square metres, while smaller units of 200-350 square metres accounted for 13% of total sales.
Source: Bangkok Post