Frasers Property devises roadmap for steady growth over next 3 years

The announcement comes as Thailand recovers from the fallout of the Covid-19 pandemic and demand for homes, industrial estates and commercial offices starts reviving. 

Thanapol Sirithanachai, Frasers Property’s country chief executive officer, told the press on Friday that the “FPT Next 2025” roadmap will primarily focus on shifting the company from being just a real-estate developer to one that offers good customer experiences. 

He expects this roadmap to boost brand awareness and elevate it to providing “real estate as a service”. 

“Currently, Frasers Property Thailand [FPT] does not even rank among the top 20 property brands in the country. The FPT Next 2025 roadmap should propel us to at least the top five brands in Thailand within the next three years,” Thanapol said. 

He said the action plan outlined in this roadmap will be to bring together teams from FPT’s three business units to apply their expertise in cutting-edge technology and know-how to develop service innovations.

This integration includes face-recognition technology for access, traffic and air-pollution tracking systems and home applications to ensure high-quality living, he said.

Meanwhile, to ensure long-term growth, FPT promises to strengthen its commitment to sustainable building leadership by encouraging the use of clean energy and prioritising eco-friendly building standards.

Furthermore, to meet the growing demand for flexible working spaces, the company is introducing the “Core & Flex” concept to its office-leasing business. The cost of the service will vary depending on the type of service and length of time it is used.

The company is also getting ready to launch its co-warehousing service this year, which will provide pay-per-use or pay-per-pallet storage options. It will also provide central facilities and technology with usage-based charges.

Thanapol noted that each of FPT's three business units – home, industrial, and commercial – has its own growth cycle. However, the housing market remains FPT's primary source of revenue.

As for Thailand’s overall real-estate outlook, he said the demand for single-detached houses is rising, while the industrial sector is looking for warehouses to secure its supply. These two factors are bolstering FPT’s outlook for this year. 

While flexible working cuts down on the need for office space, some businesses still require it. Thanapol said believes good locations will help this side of its business grow. 

He added FPT will target revenue of around 18 billion baht this year thanks to positive development signs and its plan to become a real estate service brand. 

Housing will account for around 73% of its revenue, followed by 19% in industrial and 8% in commercial properties. 

Though the company’s 30-billion-baht revenue target by 2025 does not appear too large, he said this goal can ensure a consistent growth of 15% per year. 

The company’s assets were valued at 97.97 billion baht as of September 30, 2022, and it hopes to strengthen its holdings to more than 100 billion baht by 2025.