Plus Property proves its strength by aiming for 1.7 billion baht in 2023 revenue Maintains its leadership position in comprehensive property management

• The overall property market has started to recover, with a large number of launches for both low-rise and high-rise residential projects this year. The number of property transfers has also risen by 14.3%. Meanwhile, office buildings are being completed to meet market demand, providing facility management businesses with growth opportunities. PLUS is creating jobs and nurturing careers as it works to accommodate said growth. Furthermore, the return of large numbers of foreign tourists to Thailand has resulted in the supply of rental residential properties rising by 55% over-year in Bangkok and by 400% in the provinces.
• Plus Property, the leader in Thailand's property management circle, strives to expand its business and retain its top spot as the firm most trusted by returning clients. The company revealed it now has 18 million square metres of space under management and is aiming to expand its portfolio to 400 property projects in 2023. The firm will continue its push to expand its markets in Greater Bangkok and other provinces by elevating its standards for real estate services delivery and by training workers to feed to the labor market and accommodate the growth of the property sector. Meanwhile, it is observing positive signals for the property sole agent and brokerage services. These developments led the firm to believe it will see growth this year, with a revenue target of 1.7 billion baht having been set.

 

Mr. Anukul Ratpitaksanti, managing director of Plus Property, the full-service professional property and facility management agency, revealed that "the overall picture of the property market is starting to recover because tourism businesses' activity and foreign investments have increased, resulting in an improvement in the general picture of the economy.  Information from the Real Estate Information Center point to a tendency for the market for new residential properties to expand by 94.6%.  As consumers have greater purchasing power, the market is starting to see a 14.3% corresponding increase in supply.  The condominium business circle had experienced a 145.3% jump in growth in 2022.  The detached homes and townhomes group experienced a 59.6% improvement.  There are office buildings and office space for rent being completed in time for workers' return to offices.  This reflected how the growth of the property market his year involves positive factors which will result in an increased demand for professional facility management companies that will take care of the buildings.  PLUS has revealed that its 2022 operating results grew because of 4 main business pillars.  These include the management service and condo juristic person service for low-rise and high-rise residential property (Property Management), the Facility Management service, the LIV-24 intelligent security system platform, and the service for Sale Management & Brokerage.  For 2023, PLUS aims to focus on doing business in markets where it has expertise and expand its reach to 400 projects while targeting a revenue figure of 1.7 billion baht"

PLUS's strategies and work plan for 2023 serve the aim of making the year another growth year.  Strategies relevant to 3 fronts have been laid down to drive business and deliver quality services that respond to all dimensions of need.

1. Business Growth - a robust, comprehensive growth of business

• Property Management. PLUS will highlight its advantages as a leader in providing quality service that meets global standards, as the company is the only one in Thailand which has secured ISO certifications in 3 fields.  It works under a 'customized service' approach by which the characteristics and requirements of each client is acknowledged.  The property management business is split into the residential properties management group and the facility management group.  For the former, this year's focus is on expanding PLUS's client groups in the luxury residential properties category.  For the facility management group, which manages commercial buildings' resources and building systems engineering, the focus is on expanding into A-grade office buildings and facilities belonging to banks and investment institutions, hospitals, educational institutes and other types of commercial buildings.  PLUS is ready to offer its professional oversight and work with building owners as a partner that can respond to various business needs while elevating the standards at buildings toward a shared goal.
• LIV-24 Intelligent Safety Technology. LIV-24's portfolio will be further expanded from residential projects to commercial facilities.  Said facilities may include multiple service centers belonging to clients, schools, hotels, factories, office buildings and malls.  PLUS will showcase the capabilities of its technology and how this can be merged with the experience of proficient personnel.  It is preparing to unveil a platform that makes use of the Visitor Management System to elevate safety at commercial facilities by screening persons entering and leaving premises.  Safety can be further boosted by the use of an automatic threats processing system operating in real time around the clock.
• Asset Management. PLUS's asset management business comprises its Sole Agent business andbrokerage business.  The former was entrusted by developers to perform as the consultant for sales and marketing at 7 property projects worth10.5 billion baht last year.  The Sole Agent business continues to garner the confidence of new and past client developers and operates in Greater Bangkok as well as in provinces with a significant economy.  Meanwhile, the brokerage business was positively affected since the latter part of 2022 by Thailand's reopening to tourists.  Demand for PLUS's rental properties in Bangkok and the provinces rose by 55% and 400%, respectively, compared to the same period of the prior year.

2. People Development - elevating the standard for real estate services, creating workers for the labor market to accommodate the growth of the property sector. The aim is to become an organization that provides knowledge, sets standards and contribute to capacity improvement for personnel withing the organization as well as for external individuals. The PLUS Eduplex institute works with educational institutes such as Suan Sunandha Rajabhat University, Sahavith Business Administration Technology College, Nawamintrachutit Industrial and Commerce College, Maharaj Industrial and Community Education College and Nakornluang Polytechnic College  to develop curricula.  The hope is to make learners proficient and knowledgeable in their career field.  One current target is to produce about 1,000 workers for the property management field of work per year.  These workers will enter the property management business and answer to the demand of the real estate market.  By implementing new technologies to improve work efficiency, PLUS staff receive upskilling that increases their work capabilities.  Meanwhile, business plans have been adjusted to be in line with the global trends that are increasingly focused on the environment, society and good governance.
3. Technology Driven - continual development and analysis of clients' needs bring about services that best match the demands of all living styles. This year, PLUS is developing technologies that apply to more systems in its work. New features in the Living PLUS application are being added to better satisfy user needs.  The app accommodates the diverse residential requirements of users, with an example being a new feature developed to provide users with an assistant for their living needs.  This feature, called PLUS Living Concierge, presents users with special-priced goods and services.  For buildings and building systems oversight, the HVAC AIoT system was developed to be a smart solution for preventing energy wastage in buildings.  The system can reduce energy expenses at buildings by up to 30% and has become an excellent addition to building owners' and PLUS's arsenal of energy conservation tools that can be deployed at Green Buildings.  Furthermore, PLUS's Data Analytics team uses data to develop a CRM system that accurately responds to the real needs of clients, with the Customer Journey concept being employed to bring about the realization of each developer's goals.

"Today, PLUS has clearly declared its intention to become the top firm in the minds of clients.  To deliver the best quality of life, we strive for excellence in standards building and service level improvement toward the global norm, using our expertise that is spread over all aspects.  PLUS has made preparations to expand on its businesses by investing in technology that would increase work efficiency.  This year, the revenue structure goal is to derive the biggest portion, or 80%, from residential properties and facilities management.  We are also looking for new clients in various industries who will support the continued growth of our business.  These are new challenges for this year," said Mr. Anukul.

Plus Property currently manages some 350 residential projects and commercial facilities with a combined total area of about 18 million square metres. More information about PLUS's services can be found at www.plus.co.th or by calling 02-688-7555.

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