The Company continues adhering to ethical and legal principles and supplier development to cover good principles throughout the supply chain in order to create benefits to all stakeholders and society. This is to lead Supalai forward for steady growth and drive environmentally friendly business operations.
Dear Shareholders
2023 had been a challenging year for business operations under uncertain economic conditions, although economic situations were likely to grow in a better direction due to stable inflation. This year, the Company was able to launch 26 new low-rise and condominium projects worth 29,640 million baht, divided into 23 low-rise projects (8 projects in Bangkok and its vicinity, 15 projects in the region) and 3 condominium projects.
At the end of 2023, the Company signed a joint investment agreement with Stockland Communities Partnership HoldCo Pty Ltd, a leading real estate company in Australia, to establish a joint venture under the name "SSRCP HoldCo Pty Ltd", with an investment value of 12,600 million baht. 12 more residential projects were developed with a project value of 137,700 million baht in 4 states, 5 major cities in Australia. Currently, 24 projects have been developed with a project value of 187,700 million baht, representing a total investment of 22,300 million baht. The revenue of newly purchased projects will be recognized in 2024 because some have already begun their development.
In the past, the Company had focused on developing the real estate business sustainably, striving to create new home design innovations, emphasizing on innovation in customer service along with caring for society and the environment in all aspects. The "Supalai Srangdee" Project is ready to drive green housing innovation by selecting energy-saving. construction materials that help reduce heat, water consumption, waste, and greenhouse gas emissions. Waste Management project was organized, including cultivating "good practice" in every process from sales to after-sales and applying technology to all processes along with operational process development and human resource development through Agile Transformation project.
This commitment has led the Company to receive the Best Public Company - Property and Construction Industry 2023 award with the No. 1 ranking in the real estate and construction industry, and many honorary awards from leading organizations. These are the testimony for its credibility with the Company, such as the BEC Award 2022 at very good level in the condominium category from the Department of Alternative Energy Development and Efficiency, Ministry of Energy (BEC Awards 2022), LIVINGINSIDER AWARDS 2023 in the category of BEST NATURAL HOME to recognize the performances of real estate entrepreneurs and brokers who have performed excellently, being ranked in Forbes Asia's Best Under A Billion 2023, Commendation Letter Award for assisting the Governor of the Royal Forest Department, FIABCI - Thai Prix D' Excellence Awards 2023 for 5 consecutive years, awards from Energy Efficiency Rating Project (Electricity Saving Label No. 5) in the category of residential houses for 2 projects and 3 house types, Rating AA Thailand Sustainability Investment (THSI) or "Sustainable Stock" for 2023, BCI Asia Top 10 Developers Awards 2023 for 13 consecutive years, being ranked in the "Excellent" group for 11 consecutive years from Corporate Governance Report of Thai Listed Companies 2023, CAC Change Agent Award 2023 for 2 consecutive years, being assessed by AGM Checklist for 11 consecutive years, Plaque of Energy Saving Home, Thailand Energy Award 2023, Sustainability Disclosure Recognition 2023 for 5 consecutive years.
Overview of the Company in 2024 is a year of expanding potential in various dimensions to drive real estate investment more domestic and international. The Company plans to launch projects, project value, sales target, and ownership transfer value as much as possible. Its sales target is 36,000 million baht, the total revenue of 36,000 million baht, and land procurement budget of 8,000 million baht. It is the year breaking the record with the highest launch of new projects with the highest value since the establishment of the Company. There are 42 projects with a total value of 50,000 million baht, covering all products, segments, and price level, which meet all requirements. There are 38 low-rise projects worth 43,500 billion baht and 4 condominium projects worth 6,500 million baht. The Company is ready to enter the real estate market in 3 provinces in potential locations, namely Lampang, Ratchaburi, and Lopburi. Therefore, the development of projects covers all locations in 29 provinces to cater to the needs of consumers across all regions. There will be new emerging things. The Company penetrates the luxury single-detached house market to enter the high-end market, designs new products that match the lifestyles of all target customers, and creates a new series of homes with more innovations for sustainable living. The Company has continuously developed product quality and green housing innovations since its establishment until now. The Company has launched a total of 441 projects and is committed to continuous growth.
Over the past 35 years, the Company Group has adhered to and focused on sustainable business operations by emphasizing the appropriate balance creation in 3 dimensions, namely economic, social, and environmental, using the principles of good corporate governance and risk management, the creation of a better quality of life for people in society with the awareness of social responsibility towards sustainable development according to the SDGs (Sustainable Development Goals), and the creation of housing innovation along with the continuous social development in various forms, including knowledge, education, family, health, environment, and arts and culture. The Company continues adhering to ethical and legal principles and supplier development to cover good principles throughout the supply chain in order to create benefits to all stakeholders and society. This is to lead Supalai forward for steady growth and drive environmentally friendly business operations and sustainable energy management towards the mid-term environmental goals and greenhouse gas emission reduction by 40% by 2030 from BAU (Business As Usual).
(Dr.Prateep Tangmatitham)
Chairman of the Board of Directors
Supalai Public Company Limited
