Seacon Home branches out into luxury project construction

Up to Bt300 million of that total |will be from its new business of building homes for developers, and Bt1.3 billion from its existing business of building to order for individual customers who want to erect homes on their own land, managing director Supitcha Chaipipat told a news conference yesterday.
“We target is for revenue from the new business to reach 25 per cent of our total revenue within five years,” she said.
This year, the new business serving developers will generate Bt100 million, compared with Bt1.1 billion from its existing business.
Currently, the company is building homes in three residential projects for property developers. One of them is the Miracle Five project by Natural Living Property Co in the Khao Yai area of Nakhon Ratchasima province, Supitcha Chai-pipat said.
The second project is The Estate, a 50-unit townhouse project on Soi On Nut 46 in Bangkok, and the third is a project called The Edition elsewhere in the capital.
“We expanded into this market segment when saw [rising] demand for construction of high-end homes,” she said.
Building luxury homes for property firms is the next step in expanding the business because many developers want a professional team to construct their houses. The company has already constructed dormitories, apartment buildings, factories, and myriad small and medium-sized housing projects.
“We expanded to that level by partnering with companies that already have land and need to develop it for sale, rental, or private commercial use. These partners are categorised as small and medium-sized enterprises that have few units.
“This is an effort to see our business have sustainable growth for|the long term at a time when demand from individual customers who own land and need to build a homeis seeing slim growth,” Supitcha said.