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Hot News: Lalin Property expecting 6.2 bn
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Lalin Property expecting 6.2 bn

Mr. Chaiyan Chakarakul, CEO of Lalin Property PLC., real estate developer for over 30 years, shared his perspective on the overall situation of the residential property market in Thailand in 2019 that the market, especially that of the vertical housing property, hadbeen sluggish due to the influence of the global economy, thedeclining Thailands economy,high level of household debts, and the LTV measure issued by the Bank of Thailand to reduce speculation in the property market. These factors negatively affected the vertical market of which demand was from investors and speculatorsmore harshly than the horizontal market. However, Lalin has always been assessing the market and has long foreseen this risk.The company, therefore, stopped developing condominium projects 2 years ago and is now focusing on horizontal projects which are a source of real demand. This timely adaptation allows the company to be able to grow amid the stagnant real estate market.

In 2020, it is expected that the overall national economy will expand roughly by the same level as in 2019 or slightly better, or plus or minus 3%.The supporting factors are the stable low interest rate, a larger volume of government investmentin 2020 after the delay in 2019,various measures to stimulate the property market, and policies to encourage Thai people to have their own residencesby offering low-interest loans from the government banks. Hopefully, these factors will improve the Thai residential property market in the first quarter of 2020 while the entrepreneurs themselves will also stimulate purchase through intensive marketing activities. It is estimated that the horizontal real estate market in 2020 will grow by 2-4%.The companys business direction in 2020 will focus on the real demand residential horizontal market with plans to launch more projects in new high potential locations and to replace the existing projects that will be gradually closed down. In 2020, 9 11 new projects will be established with a total value of 5 5.5 billion baht, a sales target of 6.2 billion baht, and a revenue recognition at 5.25 billion baht, or a 13% growth from 2019.

Mr. Churat Chakarakul, Deputy Managing Director, Lalin PLC.,revealed some information on the marketing plan. This year, Lalin Property will take a proactive strategy to demonstrate our ability as the leader of sustainable property developers for over 30 years. We will build a solid growth potential and become the National Housing Company. When talking about low-rise housing in the price range of 2 6 million baht, Lalin must be among the top 3 brands in the consumers mind.With marketing budget of around 3-4%, this year, Lalin will implement thelifestyle marketing strategy to communicate with both old and new customersin order to precisely reach the right targets, createbrand loyalty, build confidence in all dimensions, and generate word of mouth.Digital marketing as well as big data will be used to analyze and find customer insight.The proactive CRM system or Lalin 4.0 Connectionwill open a channel for customers to receive news and information and have a quick two-way communicate with Lalin. These are the extension of the Lalins quality of living standard. With regards to financial status, the company has set a land acquisition budget at around 1 1.2 billion baht. The sources of budget are cash flow from the business operation and the companys accumulated profits. The working capital, aside from the cash flow, will come from the issuance of debentures and short-term loans from financial institutions which will grant loans inthe amount and timing deemed appropriate for business expansion and long-term growth. The D/E ratio of the company is currently around 0.8 times, much lower than the industrys average of around 1.4 times. This figure reflects a low financial risk and a high potential of business expansion with no worry about the sources offund.

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Thaniya Plaza to undergo major renovation

Dr. Tasnawat Sombuntham, Managing Director of Thaniya Group, said, Built on vacant land in Silom district, the long-standing Thaniya Plaza has been operating for 30 years. The complex of two adjacent buildings, consisting of an office building and a plaza building, is connected to the BTS Sala Daeng Station and MRT Silom Station. Thaniya Group is one of the first land developers who introduced a concept of mixed-use development by adding a retail podium, Floor 1-4, at the Front Building (Thaniya BTS Wing) and the Main Building (Thaniya Plaza). At the retail area, more than 80% of the tenants operate golf shops which made Thaniya Plaza the largest Golf Centre in Thailand and Southeast Asia. Besides golf shops, the rest 20% of the tenants operate Japanese restaurants serving customers and Japanese tenants. Also, there are other lifestyle shops such as a camera store selling film cameras which are rarely found these days.With great success over the past three decades, Thaniya Plaza has been well-known among business communities as well as Thai and foreign tourists. Nowadays, the complex is also recognised as one of the landmarks in the Silom area.

Thaniya Plaza's renovation plan is aimed at reinforcing the position of Silom's landmark and responding to the lifestyle of the new generation. Furthermore, by following policies of the Bangkok Metropolitan Administration (BMA) and the Collaborative Networks of Business Operators in Silom Area that aims to develop Silom Road into a clean, beautiful, organised, safe, prosper and modern street, the Thaniya Group is now ready to lead the change for Silom area.With an investment of over 1 billion baht, the group will develop Thaniya Plaza's retail zone into a "Lifestyle Mall of the Future" that fulfils the needs of all customers. The renovation project will combine and give a harmoniouslook for the two adjacent buildings. With the transformation, Thaniya Plaza will be introduced under the concept "The Future of Thaniya" showcasing a modern style that gives importance to the environment and energy-saving practices.

Thaniya Plaza's design concept, Modern and Green, is based on survey results showing that the public wants to see more of green space in the Silom area. There will be four storeys of retail space or a total of 12,000 sq. m, of which 8,500 sq. m is located inside the Building A (Atrium) on Thaniya Street and 3,500 sq. m inside the Building B (BTS) on Silom Road. Two connecting bridges which link between Building A and Building B will be located on the 3rd Floor and 4th Floor. Furthermore, the landscape on the Ground Floor will be transformed to increase more green area and create a link between the two buildings.

In Building A, the 1st and 2nd Floor will serve as a Golf Centre that is equipped with an area for golf simulator and golf equipment from top brands. The 3rd Floor will be Lifestyle Shops showcasing lifestyle products and services, including beauty clinic, dental clinic, beauty stores, and many more. The 4th Floor will be a Food Hub which gathers famous food brands and leading restaurants at one place. In Building B on Silom Road, which is directly connected to the BTS Sala Daeng Station, the retail zone will showcase flagship stores and brand shops.With the makeover plan, Thaniya Plaza has been receiving a good response from current and new tenants who are operating and launching new shops. Leading brands include Mizuno, Kasco, Bridgestone Golf, Titleist, Callaway, PING, Adidas, to name a few. Meanwhile, the group is approaching potential tenants to add more retail shops to the plaza. For Thaniya Street, a private avenue under the management of Thaniya Group, green area and space will be added to serve outdoor events during weekends. The renovation plan will be divided into two phases. Beginning with Building A (Atrium), the first phase is from April to December 2020. The second phase of renovation will continue with Building B (BTS), while the project is expected to be completed within the first quarter of 2021. During the refurbishment, shops will be temporarily relocated to the unaffected area to keep the business and the retail zone functioning.

Thaniya Plaza will further strengthen our position as the well-known landmark on Silom Road and fulfil needs of people in the Silom area. Residents, business people, tourists, golf lovers, or those who have different lifestyles can share the space of happiness at the Thaniya Plaza. Besides, we are confident that we can cater to a need for business operators in terms of the customer traffic and the prime location in Bangkok's Central Business District (CBD). We have also improved our space rental services to align with today's business landscape, said Dr. Tasnawat.

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