Property/Supalai

Editorial staff

Though Thailand’s property market is facing challenges, SET-listed property developer Supalai Plc is moving its business ahead with a big plan to develop 36 new residential projects both low-rise and high-rise, totally costing 46 billion baht this year.

Prateep Tangmatitham, the company’s chairman, said that 2025 is a tough year for the property market hit by negative factors, along with a decline of new condominium projects. Clearly, it is hard for developers to find new plots of land and meet the green trend in their project development. Higher interest rate is one of the problems, but fortunately the inflation remains low. The financial institutions have tightened their rules on mortgage lending. Factors also include the sluggish economic growth, a low rate of newborns and tightening building and environmental control law. However, there are positive factors like the continuous increase of foreign investment into the country and the expansion of second tier cities.

Prateep Tangmatitham

Despite uncertainties, the company will move ahead with its big investment, with the launch of 36 new residential projects, worth 46 billion baht this year.

Tritecha Tangmatitham, the company’s managing director, said that about 21 projects are in upcountry area. Of the total, 18 projects are valued at 17.28 billion baht totally, including low-rise projects and 3 condominium projects with 2.5 billion baht in value. Two projects are located in Pattaya-Naklua and Pattaya-Wong Amat and one in Phuket.

Another 15 projects are in Bangkok and others. Of the total, 10 projects, they include low-rise residential projects with the total value of 15.89 billion baht and 5 projects valued at 10.33 billion baht are condominiums in Changwattana, Sukhumvit 39, Tha Phra, Taksin and Srinakarin locations.

Tritecha Tangmatitham

In 2024, the company opened 41 residential projects in total, worth 52.38 billion baht in combination. Of the total, 37 housing projects were low-rise, while the remaining 4 as condominium.

Currently, Supalai has developed its residential projects in 30 provinces including Pitsanulok, Nakhon Sawan, Lamphun, Lampang and Chiang Rai.

Apart from domestic market, the company has expanded its business in Australia, currently with 24 projects, aiming at increasing its business growth and minimize its risk from market uncertainties.

In 2024, Supalai had 26.74 billion baht in presales, with 54% from Bangkok and 46% in upcountry. High-rise projects represented 37% and low-rise of 63%. It also had 3.09 billion baht in pre-sales from Australia.

Supalai Prima Villa Thanon Utthayan

Mr Prateep said that the company plans to allocate 8 billion baht to buy plots of land in Sukhumvit 39, Suphan Buri, Koh Samui, Phuket and other locations to develop projects this year. The up-coming project is also in Lopburi province. In the first quarter of this year, it will launch ‘’Supalai Prima Villa Thanon Utthayan” on 29 rai with 65 units. The unit price is between 17.9 and 35 million baht.

In addition, the company also plans to provide new services in the future, including serviced office, long-term lease condominium and time sharing.

The company expects to earn 30 billion baht in revenue, with 32 billion baht in presales in 2025, up from 26.74 billion baht in 2024.