Bangkok, Thailand, October 20, 2023 -- 
Frasers Property Home (Thailand), the residential business under Frasers Property Thailand, is poised to unveil a portion of its 2024 business plan, "Adjust and Advance", under the new leadership of Mr. Somboon Wasinchutchawal as the Acting CEO, accompanied by its experienced management team: Mr. Pawarun Udomsiri and Mr. Apichart Hengwanich. The company’s focus is on expanding its single-detached house portfolio and entering the condominium market. The ultimate objective is to elevate the brand's standing in the market, with an aim to secure a position among the top five developers.
Mr. Somboon Wasinchutchawal, Acting Chief Executive Officer of Frasers Property Home (Thailand), said, "The company is maintaining its position as the leading residential real estate developer by delivering high-quality homes across various segments and will continue its growth strategy by increasing single-detached house products to 50% of the overall portfolio while continually expanding the twin home, townhome, and condominium portfolio. At the same time, Frasers Property Home (Thailand) will continue to adhere to its customer-centric approach to enhance its residential products and elevate the standard of living of our customers."
With over three decades of experience in leadership roles at leading real estate companies listed in the Stock Exchange of Thailand, including Frasers Property Thailand, Mr. Somboon Wasinchutchawal is trusted to assume the role of Acting CEO to continue driving further growth of FPT’s residential business.
In brief
Frasers Property Home (Thailand), the residential business of Frasers Property Thailand, outlined plans to broaden its housing portfolio under Acting CEO Somboon Wasinchutchawal. The company says it intends to increase single-detached houses to 50% of its overall portfolio while continuing to develop twin homes, townhomes and condominiums. It is planning project launches in Bangkok and other locations in 2024, including developments branded The Grand, Grandio, Prestige and NEO Home. The company says these homes will incorporate sustainability features such as solar roofs, clean energy and electric vehicle chargers. Solar roof installation is scheduled to begin at clubhouses across 71 projects in 2024. Frasers Property Home is also developing its first condominium project and aims to rank among Thailand’s top five real estate developers by 2025.
Key takeaways
- The company plans to raise single-detached houses to 50% of its residential portfolio.
- Planned 2024 projects include The Grand, Grandio, Prestige and NEO Home.
- Solar roofs are scheduled to be installed at clubhouses across 71 projects starting in 2024.
- The company is developing its first condominium and aims for a top-five position by 2025.
Mr. Pawarun Udomsiri and Mr. Apichart Hengwanich, both senior executives with a substantial tenure at the company, bring to the table years of extensive experience and expertise in the residential business. Mr. Pawarun, serving as the Senior Executive Vice President, leads various landed housing projects, including townhomes, twin homes, and single-detached houses in Bangkok and up-country locations. His responsibilities include project construction, quality control, property conveyance, and after-sales service. Mr. Apichart, also a Senior Executive Vice President, is responsible for central support related to residential marketing strategy, project design and development, cost control, as well as the development of condominium projects, including conveyance and after-sales service.
In the past, Frasers Property Home (Thailand) achieved considerable success with its landed projects, owing to its growth strategy. This involved the introduction of housing developments across diverse market segments, including the launch of luxury single-detached house, twin home, and townhome projects with extensive features and functions. Paired with ongoing marketing efforts, this strategy resulted in consistently impressive revenues and growth.
In 2024, the company is aiming to launch new projects both in Bangkok and up-country locations. These projects, known as The Grand, Grandio, Prestige, and NEO Home, are designed to provide environmentally friendly homes through innovative design and construction practices. These green initiatives encompass the use of clean and sustainable energy, the installation of electric vehicle (EV) chargers, and the integration of solar roofs. The installation of solar roofs will commence in 2024 at the clubhouse of 71 of the company's projects, generating 1,470 kilowatts of power, equivalent to planting 100,000 trees. Currently, the company is developing its first condominium project.
"Next year, we plan to refresh our brand to better align with Frasers Property Thailand, to enhance brand awareness and leave a lasting impression on our customers. Our goal is to secure a position among the top five real estate developers in Thailand by 2025. Frasers Property Thailand’s products which cover all residential segments and requirements provides the flexibility and resilience needed to balance our portfolio, while continuing to deliver high-quality housing projects and exceptional customer experiences in line with Frasers Property Thailand's mission, 'Inspiring experiences, creating places for good,'" concluded Mr. Somboon.
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Questions around this news
How does Frasers Property Home (Thailand) plan to change its residential portfolio?
The company says it plans to increase single-detached houses to 50% of its overall portfolio while continuing to grow its twin-home, townhome, and condominium offerings. Its stated strategy also includes entering the condominium market and balancing its portfolio across residential segments.
What residential projects does the company plan to launch in 2024?
The company says it aims to launch projects in Bangkok and up-country locations under the names The Grand, Grandio, Prestige, and NEO Home. It describes the homes as incorporating environmentally friendly design and construction practices, including clean energy, electric-vehicle chargers, and solar roofs.
What is a solar roof, and how can it support a home?
A solar roof uses photovoltaic panels or solar roofing materials to convert sunlight into electricity. The generated power can serve a building’s electrical needs, be stored in batteries, or be sent to the electricity grid, depending on the system and local arrangements. Solar roofs are one way buildings can use renewable energy.
What is the difference between a townhome and a single-detached house?
A townhome is typically one of several homes joined side by side, with each home having its own entrance and often multiple floors. A single-detached house stands apart from neighboring homes rather than sharing walls. The exact design, ownership arrangements, and facilities can vary by development and location.
