15 Mar 2016

Singha Estate to invest THB 20 Billion to construct ‘super luxury’ projects and maintain momentum on international and domestic M&A deals

Singha Estate Public Company Limited orSreveals its 2016 business plan based on its successful formula of Mergers & Acquisitions and nearly 20 Billion baht in investments in international and domestic hotel & tourism markets and Thailand’s Real Estate sector. “S” will also firmly establish itself as a major player in Bangkok’s upper-market segments with 3 super luxury projects; 1) a very fine gated mansion community with truly spectacular units on sale at 150 million baht, 2) a premium condominium project, and 3) a grade A office building in the very heart of the city. The company will continue to strengthen the Singha Estate brand as a leader in the real estate industry and continue its focus on human resource development to accomplish its sustainable growth.

Mr. Naris Cheyklin, CEO of Singha Estate Public Company Limited, reveals that this year Singha Estate will execute a well funded investment strategy of close to 18,800 million baht mainly in super luxury markets as part of its 5-year plan. The biggest proportion of some 8,000 million baht will be spent on developments in the hospitality business sector, another 5,100 million baht on residential projects, and the remaining 5,700 million baht on commercial assets such as retail projects and, new for “S”, its entry into the warehousing and logistics business.

“This year, we are going to continue with business strategy similar to last year as we continue to establish ourselves as a new force in real estate, so our 5-year plan is to focus on rapid growth by M&A on one hand while developing new projects in parallel from our own resources to enhance the Singha Estate name and to become one of the top real estate brands in the country. Also this year, we have plans to launch 3 new super luxury projects: firstly, a very fine gated mansion community on Pradit Manoontham Road (near Ekamai-Ramindra Expressway) occupying a 45-rai prime location for buyers in the A+ segment with units starting at 150 million baht. Secondly, the building and retail spaces at Singha Complex, a premium mix-used project on the corner of Asoke-Petchburi junction. This project will become one of the most luxurious and modern office building in Thailand and its retail spaces will feature famous restaurants, banks and other services to support the needs of office users and nearby residents alike. Office rental fees of this grade A, 44-story office building will be more than 1,000 baht per square meter per month and already Boon Rawd Brewery Group have signed a long-term rental contract for the top six floors - equivalent to approximately 20% of the building’s total office rental space. Thirdly, a super luxury condominium will be situated within Singha Complex compound and will be ready for reservation in the fourth quarter of this year at prices of approximately 300,000 baht per square meter,” says Mr. Naris.

Mr. Naris reiterates that in addition to this year’s new super luxury projects, Singha Estate will continue to focus on Mergers and Acquisitions. Singha Estate has a dedicated management team with high experience in selecting well-performing and high potential businesses, through either outright acquisitions or joint venture investments. Its focus remains on hotel businesses abroad such as the United Kingdom, Europe and other major tourist destinations. Furthermore, Singha Estate will explore new business segments including industrial estates, warehousing and logistics. Nevertheless, the Company is confident to achieve fast-track and sustainable growth through its high caliber management team along with its emphasis on human development.

Today, Singha Estate Public Company Limited already has a number of projects under development and construction such as: The ESSE Asoke and residential projects under Nirvana Public Company Limited and businesses already operating and generating revenues including: the Sun Towers Office Building, the Santiburi Beach Resort and Spa Koh Samui, Phi Phi Island Village Beach Resort, and the JV operation of 26-Mercure hotel in the United Kingdom.

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