Sansiri’s first flagship condo project was built in Hua Hin

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Thai property developer Sansiri Public Company Limited has announced a huge investment of 26 billion baht in new condominium projects across Thailand.

This significant investment, the largest in the Thai real estate sector in 2024, is set to span various market segments from affordable to super-luxury properties.

Sansiri’s journey as a leading real estate developer began in Hua Hin with their first flagship project, the beachfront condominium, Baan Kaimuk, which was built over 30 years ago.

Today, Baan Kaimuk’s resale price has surged by up to 1,000%, attributed largely to Sansiri’s after-sales service which has ensured continuous capital gains for this and many other projects under their portfolio.

And Sansiri’s developments in Hua Hin continue.

The company is building The Standard Residences Hua Hin, a branded residence, which will be the first of its kind in Asia under The Standard brand.

Located in Khao Takiab, the beach front project consists of a total of 251, with prices ranging from 8.99 – 49.99 MB THB.

Sansiri’s latest plans include 20 new projects, far outpacing competitors such as Origin Property and AP Thailand. Origin Property ranks second with 15 new projects worth 20 billion baht, while AP Thailand holds third place with six new projects valued at 12.5 billion baht. Despite the current economic challenges and market downturn, Sansiri’s approach draws from four decades of industry experience, enabling the company to navigate both positive and negative economic factors.

Mr. Ongart Suwannakul, Senior Deputy Managing Director of Condominium Development at Sansiri, highlighted the company’s milestone 40th anniversary, marking it as an organization that has consistently achieved stable growth through various economic crises. This year, Sansiri’s plan to develop 20 new condominium projects, valued at 26 billion baht, represents a 44% growth rate compared to the previous year. The accumulated portfolio now boasts nearly 200 projects with a total value of 290 billion baht, including 81,000 delivered units across 20 condominium brands.

“Sansiri’s first flagship project was Baan Kaimuk, the beachfront condominium in Hua Hin. Currently, its resale price has increased by up to 1,000%. The main reason is the excellent after-sales service, which ensures that Baan Kaimuk continues to offer outstanding capital gains, similar to many other projects by the company,” said Mr. Ongart.

Another factor in Sansiri’s success is its strategic partnerships, particularly with construction contractors who have built condos for Sansiri for over a decade, some for more than 20 years. This long-term collaboration ensures that the construction quality meets Sansiri’s high standards, reinforcing their market leadership.

Sansiri’s investment strategies are designed to mitigate risks and seize market opportunities.

The company says its latest plans include:

Super luxury products: Sansiri is continuing to develop super luxury products, including a much-anticipated project in Chidlom, where loyal customers have already reserved penthouse units worth nearly 500 million baht each, even before presale.

Provincial expansion: Nine new projects worth 11.8 billion baht are planned in major cities and tourist destinations such as Phuket, Chiang Mai, Pattaya, Hua Hin, and the Eastern Economic Corridor. The highlight is “Canvas Cherngtalay” in Phuket’s new CBD, attracting long-stay European tourists.

Prime locations in Bangkok: Sansiri is addressing the demand in prime Bangkok locations where land availability is scarce. New projects under the “Via” brand are planned for Sukhumvit 34, Sukhumvit 61, and Sukhumvit 36.

Pet-friendly condos: Capitalizing on the Pet Parent trend, Sansiri has launched the “Pets Welcome Condo” campaign. Projects like The Standard Hua Hin and The Move Sukhumvit 107 are part of this initiative, with new projects such as “Pinn Center Research” near Bangkok Hospital.

Revamping The Base brand: Known for its wide customer base, The Base brand will see four new projects worth 5.7 billion baht, including pet-friendly features.

BOI condos: Supporting the Board of Investment (BOI) initiatives, Sansiri plans affordable condos priced under 1.5 million baht through the “Condo Me Vay” brand.

Extending the D Condo brand: Sansiri will develop four new projects worth 3.9 billion baht, focusing on facilities that meet local demand. Examples include “D Condo Sense” in Bangsaen and “D Condo Calm” in Ramkhamhaeng.

Emphasizing experience: Leveraging 40 years of experience, Sansiri continues to prioritize design and service quality to deliver superior living experiences.

“In the condo industry, the top five developers can all achieve similar feats. However, what makes Sansiri stand out and remain number one for 40 years is the exceptional service that understands living needs, customer lifestyles, and post-sale service, including property management. This builds customer confidence to the point of purchasing a nearly 500 million baht penthouse based on floor plans alone. This proves the effectiveness of our eight strategies and strengthens our market position,” said Mr. Ongart.

All images: Sansiri

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