BANGKOK, 24 JANUARY 2025
Frasers Property (Thailand) Public Company Limited (“FPT”) has unveiled its business plan for fiscal year 2025 (October 2024 - September 2025), highlighting its ‘Secure Core, Embrace Future’ strategy. The plan focuses on three operational dimensions – Flexible, Feeling and Focus - driving residential, industrial, and commercial real estate growth amidst macroeconomic volatility. The company is also incorporating artificial intelligence (AI) to enhance its operational systems, strengthening its position as a fully integrated real estate platform with the goal of becoming a real estate service brand.
FPT’s strategic business plan for FY2025 comes amid a mixed macroeconomic environment, with broader geopolitical uncertainty impacting global trade and domestic challenges such as sluggish consumer purchasing power, high household debt, and elevated interest rates. These factors continue to hinder the recovery of the Thai economy.
Meanwhile, several segments within the real estate industry are experiencing oversupply. The luxury single-detached housing market continues to see rising supply, in contrast to declining demand. The office building market faces intense competition from newly completed projects and ongoing developments set to launch soon. Additionally, the rental warehouse market is showing signs of oversupply as more real estate developers enter this expanding sector.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer of Frasers Property (Thailand) Public Company Limited or "FPT" said, “Against the backdrop of domestic and international challenges facing the real estate market in 2025, Frasers Property Thailand is prepared to meet these challenges head-on in FY2025, targeting revenue of THB 16,000 million, an increase of 11% compared to FY 2024 (October 2023 - September 2024). Our ‘Secure Core, Embrace Future’ strategy aims to secure existing customers whilst pursuing new customer segments, positioning the company well for sustainable business growth.”
FPT’s strategy focuses on three operational dimensions:
- Flexible – Adapt with agility to meet market demands To drive the business with flexibility through the strength of a comprehensive real estate platform encompassing residential, industrial, and commercial business. The company generates revenue from both property sales and rentals, ensuring recurring income streams. FPT’s products and services are adaptable to customer needs, such as with flexible lease terms and multi-
- Feeling – Create elevated experiences To deliver memorable experiences to customers through creatively crafted atmospheres and environments across all service areas, coupled with sincere and attentive after-sales service. The company designs comprehensive customer care solutions and organises various activities to strengthen relationships, ensuring long-term customer retention.
- Focus – develop specialized products and services To leverage data-driven insights to analyse market trends and customer needs, while remaining ready to address diverse and rapidly changing customer needs through a customer-centric approach. This includes emphasising future trend forecasting and in-depth data analysis to create new solutions that enhance product and service value whilst responding promptly to market demands.
The ‘Secure Core, Embrace the Future’ strategy is being implemented across FPT's business segments as follows:
- Residential Business: Transforming residential development with new formats that offer designs and functions specifically tailored to lifestyles and needs of the new generation, supported by robust after-sales services caring for customers from both pre- and post-occupancy. Plans include the launch of six new projects in Bangkok, Nakhon Ratchasima, and Khon Kaen, with a total value of THB 9,803 million. This comprises three luxury and upper-segment single-detached and semi-detached house projects under The Grand, Grandio, and new Gramour brands, one premium townhome project under the new Goldina brand, and one KLOS branded condominium project. Simultaneously, the company is expanding its international marketing presence with roadshows in China, targeting customers interested in condominium projects.
- Industrial Business: FPT is currently the market leader in factory and warehouse leasing with 3.66 million sqm under management across Thailand, Indonesia, and Vietnam. The company aims to expand by over 150,000 sqm and achieve a portfolio occupancy rate exceeding 88%. It also continues development activity across Ready-Built, Built-to-Suit, and Built-to-Function industrial buildings, with the company being the first in the market to develop in the Built-to-Function format. It has received excellent market acceptance and swift customer deal closures within this format. Additionally, the company will participate in developing a 4,600-rai Industrial Township project located at Bangna-Trad Road KM 32, scheduled for launch in February 2025.
- Commercial Business: Continuously upgrading the services and quality of Grade A office buildings to enhance experiences for all user groups, combined with excellent tenant relationships. This has been key for FPT in maintaining a strong existing customer base. Further plans include attracting new foreign customers to Thailand through production base relocations and expansions. In the retail space, it also aims to add more lifestyle-oriented shops, combined with various activities to create extraordinary experiences that enliven the market and increase shopper traffic. The company expects to maintain commercial business portfolio occupancy rates above 90% this year.
Furthermore, the company has implemented AI in various aspects of its business operations, including project design and creation, data analysis for product and service development to enhance customer experience, and office operations such as accounting and finance to improve efficiency, reduce costs and processing times, Additionally, the company has introduced an ‘Everyday AI’ program, which equips employees with the skills to effectively utilise AI in their work, whilst building a strong organisational foundation for the future in an era of high competition and rapid change.
"With our robust and carefully planned strategies and initiatives, we are confident in driving stable business growth amidst wider macroeconomic pressures. Simultaneously, this advances Frasers Property Thailand's progress towards becoming a Real Estate as a Service Brand by extending service innovations to enhance customer service efficiency and improve the quality of life for its stakeholders. The company remains steadfast in its commitment to achieving net zero carbon emissions by 2050, aligning with our Purpose – Inspiring experiences, creating places for good." Mr. Thanapol concluded.
