Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and holder of the leading position in the condominium market near electric train lines, is committed to developing residences that best answer the lifestyle of urban dwellers. The company stated that this year is a challenging one and it is preparing to face a volatile market under the concept “Change The Plan Never The Goal” — steadfast in goals, flexible in methods”, moving forward with its mission to help solve the problems of urban living while helping build a better city for the people of Bangkok.
The company reaffirmed its strong financial position and solid support from leading partner Mitsui Fudosan, aiming to expand new revenue streams by preparing to invest in mixed-use projects with the BTS Group and Hospitality projects with the Dusit Thani Group, targeting transfers of more than 22,000 million baht, confident that demand for residences near electric train lines remains continuous.
Mr. Chanon Rungkitratanakul, Chief Executive Officer and Managing Director of Ananda Development Public Company Limited, said that the overall real estate market this year faces consumer concerns over the economic situation. Those with money are delaying purchases, but if they can see that the market is not as bad as they think, purchasing power will recover.
In addition, developers themselves must turn to the demand that still exists in the market and develop projects in locations where they excel. Importantly, they must manage construction well and maintain appropriate inventory, manage risks, and develop new formats that suit purchasing power. Real estate has faced crises many times in the past and has gotten through them every time; it is believed this time will be no different.
For Ananda, this year is another challenging one, as the changing situation requires constant adaptation, under the concept “Change The Plan Never The Goal” — steadfast in goals, flexible in methods — in order to align with market conditions and customer needs. Ananda continues to place importance on and have confidence in its strategy of developing condominiums near electric train lines.
This is the core strategy that the company pioneered and has consistently pursued. The expansion of the electric train network to 221 stations over the next 5 years will certainly benefit Ananda, the leader in developing condominiums near electric train lines, from this expansion.
Furthermore, the company maintains its mission of building a better city while helping solve problems for urban dwellers for a better and more balanced life, in line with the Urban Living Solutions philosophy the company has always upheld, ready to answer the needs of Gen C customers.
This year the company plans to launch the IDEO Phahon-Saphan Khwai project, located right next to the BTS Skytrain Saphan Khwai Station at a distance of just 0 meters, on land of over 5 rai, with a total of 1,356 residential units and a project value of more than 8,500 million baht
The project format has been adjusted to align with customer needs and market conditions. In addition, the company has prepared 7 more new projects that can be presented to customers at any time should the market situation improve
Ananda continues to enjoy strong confidence and trust from its powerful partner, Mitsui Fudosan Co., Ltd., ever since the joint venture began in 2013 up to the present. In addition, the serviced apartment project in partnership with a world-class partner, The Ascott Limited
which ranks number one among the world’s leading luxury serviced residence operators, will be completed and ready to operate 2 projects this year: SOMERSET RAMA9 and LYF SUKHUMVIT 8, which will help contribute steady recurring income. Ananda aims to develop 2 serviced apartment projects per year
The company plans to expand new revenue sources and strengthen its core business by investing in its first mixed-use project in partnership with the BTS Group on land of over 200 rai in front of the Thana City project on Bang Na - Trad Road, aiming to develop it into a Smart City and Technology & Innovation Hub to transform the housing industry to truly meet the lifestyle needs of modern urbanites. The Dusit area is currently in the joint study and development stage
The company has a sales backlog awaiting revenue recognition of over 31,000 million baht to support transfers over the next 3 years, and the company's cash flow remains strong, with cash on hand of more than 14,800 million baht maintained as of the end of the quarter
As for the key strategies the company is prioritizing in its operations this year to drive the company forward amid the current situation, they consist of 3 main strategies as follows
Strategy No. 1 concerns the residential project business plan, which is divided into 2 main parts. The first part is ready-to-move-in projects, of which there are more than 38, including condominiums along the electric train line, single-detached houses in prime locations, and townhouses at great value prices
which is considered a great opportunity for customers looking for a new residence, as the company has offered special deals and special prices for each project, including the ability for customers to visit actual units, actual views, and actual locations before making a decision. Additionally, this year the company will have 7 new ready-to-move-in projects, ready to become new residences for urban people, helping to make city living even better, and project business plans
The second part is the strategy for launching new projects. Due to the market situation, economic conditions, and competition, the company has adjusted its plan for launching new projects, choosing to launch projects that it is confident can meet customer needs perfectly in every dimension, whether location, product, or price.
This year, the company has planned to launch 1 new project, namely IDEO Phahon-Saphan Khwai (which is a project transformed from the original IDEO Q Phahon-Saphan Khwai project). The company is confident that this project will perfectly meet market demand, located 0 meters from Saphan Khwai BTS Station, with a starting price of only 139,000 Baht/sq.m., which will open for reservations in mid-year
However, the company still has 7 other projects under development. If the situation changes with positive factors or improving trends, the company is ready to launch additional projects. But we will prioritize launching projects that can respond to customer needs and market demand most importantly.
The 2nd Strategy involves strategizing and directing the corporate brand communication while maintaining its position as Urban Living Solutions through the URBAN HACK concept, which is an idea that helps improve city living for urban people, by presenting ways of thinking and organizing corporate activities, both for Ananda's customer groups and the GEN-C group living in the city, as well as seeking Solutions that can help develop the city to be even better.
The 3rd Strategy that the company prioritizes is creating a good experience for customers at every step between the customer and the company, with a team closely overseeing this matter, having policy guidelines along with measuring customer satisfaction in every dimension. The company believes that these 3 strategic approaches will help drive the company toward its established goals.
“Although the market conditions are volatile, there is still demand or housing needs just waiting for the right timing. At present, this is considered a good opportunity for customers to purchase a residence at a price that allows them to become owners. Ananda remains committed to developing residences that meet the needs of urban living, so that everyone can have a quality residence of their own.” Mr. Chanon concluded.
