“LWS” points out that the Eastern Economic Corridor (EEC) location has high purchasing power for housing, both for residential purchases and investment, with an average return of 5-7%

Mr. Prapan Saksak Rakchaiwan, Managing Director of LWS Wisdom and Solutions Co., Ltd. (LWS), a real estate research and development company under L.P.N. Development Co., Ltd. (Public Company Limited), said that the demand for housing in the Eastern Economic Corridor (EEC) area has a tendency to increase continuously. From the survey results of LWS in January It was found that there are 75 residential development projects in this area covering Chachoengsao, Chonburi and Rayong provinces, totaling 26,526 units, divided into 27 condominium projects, totaling 15,160 units, developed from 2017 to the present, with approximately 4,330 condominium units remaining for sale, or 28.56% of the total number of units for sale. Meanwhile, there are 48 residential projects, totaling 11,366 units, with approximately 4,834 units remaining for sale, or 42.5% of the total number of units for sale.

“From the survey results, it can be seen that the demand for residential condominiums in the EEC area is higher than for houses. The price level of residential condominiums that are of interest is at a price level not exceeding 2 million baht, while the residential houses that are of interest and have a good sales rate are townhouses at a price level not exceeding 4 million baht,” said Prapan Sak. And the location with the highest demand for residential condominiums It will be located in the Amata City Industrial Estate, Chonburi, which is the area with the highest number of workers, approximately 220,000 people, with a population group with an income between 12,000 - 120,000 baht per month, compared to Laem Chabang Industrial Estate, Chonburi, which has approximately 25,000 workers with an income between 10,000 - 80,000 baht per month, and Bang Pakong Industrial Estate, which has 30,000 workers with an income between 10,000 - 65,000 baht per month.

“The number of workers in the Amata City Industrial Estate is higher than the Bang Pakong Industrial Estate and Laem Chabang Industrial Estate, making the demand for housing in this area higher. From the survey results around Amata City area, it was found that there are 14 apartments with a total of 1,900 rooms for rent, which are 25-28 square meters in size. The occupancy rate is 93%, with rental rates of 2,500-5,000 baht per month. Six out of the 14 apartments have a 100% occupancy rate, reflecting the high demand for housing in this location compared to other locations in the EEC area,” said Mr. Prapan Sak.

From such demand for housing, it is an opportunity for real estate developers to develop housing in this location to meet the needs of buyers, especially condominium projects. From the survey results in January, it was found that condominium projects that were completed before sale, when opened for sale at a price not exceeding 2 million baht (average sale price of 900,000-1,200,000 baht per unit, room size 24-30 square meters), were able to generate an average sales of 70-90% of the number of units opened for sale, with buyers who wanted to live there themselves and bought for investment to rent out. Which can be rented at a price level of 5,500 - 8,000 baht per unit for a room size of 24 - 30 square meters, or an average return of 5 - 7% per year, which is higher than the current deposit interest rate, said Mr. Prapan Sak.

According to the report of the Industrial Estate Authority of Thailand (IEAT), new sales and rentals of areas in industrial estates totaled 6,069 rai, an increase of 52.7% YoY in the first 9 months of 2024, with sales and rentals of land in the estate still being the largest in the Eastern region. Covering an area of ??5,481 rai (accounting for 90% of new sales and rentals in industrial estates nationwide), an increase of 55.3% YoY, reflecting the potential of the Eastern region, which is still able to attract the most interest from investors compared to other regions, followed by the Central region (including Bangkok and its vicinity) at 531 rai (+47.5% YoY), resulting in cumulative sales and rentals in the first 9 months of 2024 at 132,430 rai, representing a total occupancy rate of 80.0%, an increase compared to the end of 2023 at 75.7%, in line with land sales (rai) and revenue of the two major industrial estate operators (AMATA and WHA Group) combined, which increased by 34.6% YoY and 28.9% YoY, respectively.

While the value of projects requesting investment promotion nationwide in 2024 was 1,138.5 billion baht, an increase of 34.5%. Of this, applications in the EEC area increased by 36.6%, totaling 504.9 billion baht (44% of the total value of projects requesting investment promotion approval).

“According to data on land purchases and investments in the Eastern Industrial Estate, especially in the Amata City area in 2024, the purchasing power and demand for housing for workers who will come to work will increase by an average of 5-10% per year during 2025-2027. This is an opportunity for real estate developers to develop residential projects in this location, as well as an opportunity for investors to invest in buying housing for rent to meet market demand amid the trend of interest rates that remain low. Investing in real estate is therefore an option and opportunity for investors,” said Mr. Prapan Sak.

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Mr. Thongma Vijitpongpun, Acting Group Chief Executive Officer of Pruksa Holding Public Company Limited, state "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 21,000 million 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. For 2025, we are committed to continuous growth by focusing on our 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."

The company targets its 2025 revenue at 23,500 million baht by focusing two main strategies. (1) Defensive Strategy: using Strategic Positioning Strategy through enhancing asset efficiency by restructuring the portfolio in line with market demand, enhancing liquidity by maintaining strong cash flow management, ensuring financial stability for future investments, and increasing cost management efficiency systematically and consistently. (2) Offensive Strategy: using Resilient Growth Strategy by redefining residential design to align with healthcare and well-being standards while driving investment and fostering strategic partnerships with potential business allies, both domestic and and international.

Mr. Dhira Thongwilai, Chief Executive Officer of Pruksa Real Estate, revealed that in 2025, Pruksa plans to launch 22 new projects worth 23,400 million Baht, comprising 8 townhouse projects (4,900 million Baht), 9 single-detached house projects (10,400 million Baht), and 5 condominium projects (8,100 million Baht). The company will focus on wellness residence projects and prime-location developments. Additionally, new projects of high-end brands such as The Palm, The Reserve, and Chapter will be launched, with approximately 50% of the portfolio consisting of properties priced above 7 million Baht. To meet the needs of modern customers, Pruksa will also launch smaller and more centrally located projects. The company targets total sales of 19,800 million Baht, with an additional JV project sales of 3,200 million Baht, as well as transfers of 18,700 million Baht and an additional JV project transfers of 1,600 million Baht, which will contribute to investment profits.

2025 Two Main Strategies of Real Estate Business are (1) Defensive Strategy: using Strategic Positioning Strategy through portfolio optimization by liquidating non-core land assets worth 1,000 million Baht. As well as, developing new projects on existing land, worth a total of 2,900 million Baht. Expediting the closure of 31 projects. Adjusting the townhouse-to-single-detached home ratio from 60:40 to 50:50 to better align with market demand. Enhancing operational efficiency by zoning management into six main zones and improving inventory management by increasing production and construction efficiency through Inno Precast and Inno Home Construction technologies. (2) Offensive Strategy: using Resilient Growth Strategy by driving sustainable and strong growth by launching new projects, focusing on well-known brands in the Ultra-Premium segment such as THE RESERVE and THE PALM. Establishing strategic partnerships to promote Well-being-focused synergy. Innovating housing products and services to improve health and quality of life. Expanding new business opportunities to strengthen brand positioning. Transferring four new condominium projects this year (Strengthening Catalyst) to maintain high-margin profitability. With these strategies in place, we are confident that they will drive increased profitability this year.

Regarding precast & construction businesses, Pruksa is set to expand production and offer a more comprehensive range of services through its green precast factory—the largest in Thailand, with an annual production capacity of 5.2 million square meters. The factory is also zero-waste and the first carbon-reducing factory. For 2025, the precast business targets 2,100 million Baht in revenue, focusing on expanding and diversifying the product ranges to better serve market demands including lightweight walls, retaining walls, and project fences. Meanwhile, the construction business aims for 5,400 million Baht in revenue, with a focus on targeting both B2B and B2C clients for home construction projects priced in the 10-30 million Baht price range.

Dr. Suvanich Triamchanchoochai, Director of ViMUT Hospital, stated that Pruksa’s healthcare business continues to grow across all dimensions. In 2024, ViMUT Group recorded a revenue of 2,187 million Baht, reflecting a 20% year-on-year increase, with an EBITDA of 112 million Baht. The primary sources of revenue included surgery, health check-ups, pediatric care, emergency services, orthopedic and spinal surgery, obstetrics and gynecology, and gastroenterology. For 2025, ViMUT Group aims to achieve a revenue of 2,600 million Baht, with three key strategies: (1) Establishing Centers of Medical Excellence in areas such as pulmonary health, ophthalmology, spinal care, endocrinology, surgery, pediatrics, gastroenterology, hepatology, cardiology, and vascular health. (2) Enhancing operational excellence by improving cost efficiency, resource utilization across group entities (e.g., procurement, marketing, finance, and information technology), and overall business synergies. (3) Healthcare expansion and

investment, including the launch of three additional specialized hospitals in Thonglor, Sukhumvit, and Pinklao while fostering partnerships within the Pruksa ecosystem to develop health-centric housing solutions and generate additional revenue streams.

“Pruksa Holding is advancing into the future with a strong commitment to enhancing quality of life through high-quality housing developments, modernized precast and construction businesses, and building a comprehensive healthcare service system. Sustainability remains our core operating principle, driving us to create a better society, long-term stability, and continuous growth,” Mr. Thongma added.

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