Property/Pruksa

Editorial staff

SET-listed Pruksa Holding Plc, one of the country’s leading property developers, will open 22 new projects, with a combined project value of 23.4 billion baht this year, amid the uncertain property market outlook.

Thongma Vijitpongpun, the company’s acting group chief executive officer, said that the company will develop 22 new projects with value of 23.4 billion baht this year, up from last year of 16 projects with value of 18.2 billion baht. Of the total, 35% will gear toward medium market segment, 14% belongs to premium and the remaining 18% is affordable segment.

Dhira Thongwilai, chief executive officer of Pruksa Real Estate, said that the 22 new projects comprise of 8 townhouse projects valued at 4.9 billion baht, 9 single-detached house projects valued at 10.4 billion baht and 5 condominium projects values of 8.1 billion baht.

The company plans to spend 8.5 billion baht on its investment this year. Of the total, 5 billion baht will be used for land acquisition and the remaining 3.5 billion baht will be used for expanding Vimut in Thonglor, Sukhunvit and Pinklao locations.

The company aims for continuous growth by focusing on its core businesses—real estate and healthcare—while upholding sustainable development principles and delivering housing projects that promote a balanced lifestyle with well-being and convenience.

It continues to adjust its portfolio, increasing its market share in the mid-to-high-end housing segment, expanding its precast business, and entering into the full-scale construction market.

“We will focus on wellness residence projects and prime-location developments. To meet the needs of modern customers, Pruksa will also launch smaller and more centrally located projects,” he said.

Its projects to be opened this year include Patio Krungthep Kreetha-Wongwaen 2, valued at 670 million baht with unit priced of 8-15 million baht.

The Palm Courtyard, with project value of 1.94 billion baht with unit price of 15-30 million baht, will be on Bangna KM 8.

The Palm residences will also be opened on Vibhavadi location with project valued of 530 million baht and unit priced of 20-30 million baht.

Other projects include Plum condo in Ladprao location with project valued of 1.2 billion baht and unit priced of 2-3 million baht as well as The Reserve, the ultra luxury residences on Sukhumvit road, catering to multiple generation, with project valued of 1.6 billion baht and unit priced range of more than 50 million baht.

“With these strategies Pruksa Holding is confident to create a better society, long-term stability, and continuous growth,” Mr Thongma added.

Suvanich Triamchanchoochai, director of ViMUT Hospital, said that ViMUT group will move ahead with three key strategies including establishing centers of medical excellence in areas such as pulmonary health, ophthalmology and spinal care, enhancing operational excellence by improving cost efficiency as well as expanding healthcare business. It sets to allocate 3.5 billion baht to expand three additional specialized hospitals in Thonglor, Sukhumvit, and Pinklao this year. The group will have 600-700 bed-hospital over the next few years.

Mr Dhira said that the group’s revenue is expected at 23.5 billion baht in 2025. Of the total, 18.7 billion baht belongs to real estate, up 8% over the same period last year, 2.6 billion baht belongs to health care business, up 19% year-on-year and the remaining 2.2 billion baht belongs to construction business and others.

Currently, revenue of over 70% comes from real estate business and over 20% from healthcare. But, the portion of both will be 50:50 in the future. Healthcare business keeps growing for a decade, compares to the declining of real estate market in the future.

In 2024, the overall real estate market faced significant challenges due to economic situation and persistently high mortgage rejection rates from banks. Despite these hurdles, Pruksa recorded a total revenue of 21 billion baht, a net profit of 456 million baht, and a gross profit margin of 31.3%. The company maintained a strong financial position, with a low net gearing ratio of 0.31 times.