Property/SC Asset

Editorial staff

To survive in the changing environment, all kinds of creatures on the planet need to know how to adapt themselves. Being clever and strong seems not a key.

This belief is reflected in Charles Robert Darwin’s works. And Nattapong Kunakornwong, chief executive officer of SET-listed SC Asset Corporation (SC), is a big fan of this English naturalist, geologist, and biologist. Such a belief is put into his property business empire, aimed at winning barriers to become a survivor.

Nattapong Kunakornwong

2024 is a clear example. He launched its ‘’Go to Customer Marketing’’ strategy, showcasing its product at exhibition. Despite a slight drop in profit, it was worth to do because it would help keep consumers’ confidence on its brand. Clearly, the business performance is satisfied with ongoing sales growth in each quarter. The firm was able to maintain its leadership in single-detached houses with a unit price of 10 million baht and, at the same time, to buy land plots for the new expansion of residential projects.

‘’2024 is a difficult year for property developers, but 2025 would be a harder year for them. Apart from the remaining three significant challenges—high household debt, oversupply of residential properties, and low consumer confidence—it also has geopolitical uncertainty. Policy of the US’s president, Donald Trump, companies would invest less; however, it still has business opportunities because companies may seek new production sources. Therefore, SC will start exploring new business opportunities to balance our portfolio and reduce business risks,”Mr Nattapong said.

In 2025, Mr Nattapong will continuously enhance its competitiveness and achieve sustainable growth in revenue and profit from a diverse range of businesses with adaptability.

It restructures the business portfolio into 3 groups for risk diversification, comprising residential real estate, both low-rise properties and condominiums; recurring revenue business such as hotels, warehouses, office buildings, and apartments in the US; as well as new business with future growth potential such as technology and service, which will start next year.

Moreover, the company will adjust the cost structure to ensure profitability and its competitiveness. It also restructures its organization to increase its agility and prepare for its growing diverse businesses and support career development opportunities of its employees.

In addition, SC Asset also continues to invest 7 billion baht in 2025. It will develop 15 new projects worth 28 billion baht. Of which the total, 12 projects will be low-rise projects worth 18 billion baht, and the remaining 3 projects are condominiums with a project value of 10 billion baht.

SONLE

For low-rise projects, SC will develop single-detached houses for the first time with a unit price of 200 million baht under the new brand so-called "SONLE" residences. It will develop only five units on 4 rai of land in the Ratchvipha location, offering sophisticated modern tropical single-detached houses with 1,300 square meters.

Another new 2025 series of single-detached houses will come from the Bangkok Boulevard brand.

With the plan, there will be a total of 96 residential projects, valued at 94.5 billion baht in 2025.

For condominiums, it will develop under the “Reference" and “COBE" brands. In addition, it will also plan to launch a new condominium brand, located on Sukhumvit Road near Phrom Phong BTS station, by the end of this year.

For recurring revenue, the company will increase its hotel room number to 800-1,000 over the next three years, up from the current 545 hotel rooms.

It also plans to open two new hotels in the second quarter of this year, including KROMO, Curio Collection by Hilton, located on Sukhumvit Road opposite the EmSphere complex. The company has joined hands with a partner to develop “The Standard” hotel project valued at one billion baht with 160 keys, located on 4 rai plots on the beachfront at Na Jomtien, Pattaya.

The Standard

The space of rental warehouse will increase to 360,000 square meters from 200,000 at present. Also, it will continuously expand its office buildings and rental apartments in the US.

In addition, there will be three new warehouse rental projects in Bangna Km. 20, Laem Chabang, and the Amata Industrial Estate in Chonburi this year.

The company expects pre-sales of 26 billion baht this year, up 4% from last year. The total revenue across all businesses is expected to reach 25 billion baht, up 11% from last year, and reach 30 billion baht within the next three years.