Singha Estate Public Company Limited reported its total revenue of 1,306 million baht in the first quarter of 2021, declined 40% from the same period last year. The decline was due mainly to the deconsolidating NVD from consolidated financial statement and coronavirus-induced impact on hospitality business. Nevertheless, an effective cost management, recognizing share of gain from joint ventures and items recorded in accordance with accounting standard resulted in 70 million baht net profit.
Singha Estate reaffirmed its leadership in the ultra-luxury housing market with the success of 1.45 bilion baht sales from “Santiburi The Residences”. The company is confident the project can truly serve demand from high-income people who are looking for high quality houses in good neighborhood with community safety and exclusivity developed under Singha Estate’s EnrichingSociety philosophy. Mr. Naris Cheyklin, Chief Executive Officer of Singha Estate Public Company Limited or ‘S’, revealed that the Covid-19 crisis has still affected Thailand’s economy and overall real estate market, making a lot of challenges for developers, while buyers have been more cautious in making any purchasing decision. However, there is demand in the ultra-luxury housing segment because this group of customers possess high purchasing power. They will consider buying a super luxury single home that suits perfectly with their lifestyle and locates in prime areas closing to the city center. Moreover, they…
‘Singha Estate’ unveils its business plan in the second half of 2020 to cope with the COVID-19 crisis and maintains the steady financial positioning, which will drive the company forward with the five-year investment plan and 68-billion- baht budget. The company will concentrate on developing a new business model under the “New Living & Working Cluster” concept in potential locations to serve changing consumer demand and investment in the New Normal era, and developing Smart M&A to build portfolio for sustainable growth in harmony with local communities well-being and environmental conservation.
Singha Estate and Project Won by TPBI joined hands in launching the initiative to recycle plastic wastes from its construction projects, beginning with the ESSE Sukhumvit 36 as a pilot project, that is in line with the circular economy philosophy. The initiative expects to bring plastic wastes from this construction site back into recycle loop at around 90%. Singha Estate has aimed to become a global sustainable property developer with “Enriching Life” brand philosophy by implementing the Green Value Chain model and encouraged all stakeholders to use resources efficiently while minimize negative impacts on the environment.
Singha Estate Public Company Limited, a leading property investment company, won the Best Brand Performance on Social Media in the Property Developer category from Thailand Zocial Awards 2020.