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Eastern Star reveals 2017 business plan targeting 2,200 MB revenue Plan to launch new projects by promoting EStar Brand and strengthen its business for the Rooster year

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Bangkok--31 Jan--WeeM Communications

Eastern Star reveals 2017 business plan to grow continuously. The goals are set at 2,200 MB of revenue and 1,000 MB of Sales volume in this year while promoting the almost 30 years of trust "EStar" brand and plan to diversify its products and customer segments to new target customers by proactively managing customer needs (Customer focus). The 2-3 new projects are planned to launch this year in both Bangkok and Rayong area with overall value over 3,000 MB. It will also adjust management team and align working processes to be more robust in order to grow capability and to support business growth.

Dr. Torsak Lertsrisakulrut, Managing Director of Eastern Star Real Estate Public Company Limited (ESTAR), has revealed about 2017 business plan that ESTAR is planned to launch 2-3 new projects in the second half of this year in both Bangkok and Ban Chang, Rayong. It will focus on mid-tier to high-end customers with the strategy that is focusing on unique design identity and adding more variety in both products and sales price including to looking for opportunities in other business to reduce risks in case there might be fluctuation in real estate business. This is to build up business security in long term. Moreover, there will be a structure adjustment on management, working team and working processes to strengthen the firm and enhance capability to support business growth.

In year 2017, we set growth target of overall sale at around 1,000 MB. For overall revenue, we set the minimum target at 2,200 MB.

Currently, we have existing active 3 projects sale in Bangkok which includes 1) Star View Project, the condominium with Chao Praya river view. It has project value of 3,800 MB, the sale price is starting from 6.7 MB. With the unique design, the perfection of facilities in common area and aesthetic view, these made us having only less than 15% of total units left and expect to close selling within year 2017. 2) Nara 9 Project, the luxury condominium in the midst of Sathorn located close to Chong Nonsri BTS station. It has project value of 2,400 MB with the starting sale price of 9.7 MB. We have now only 17% of total units left and it is during transferring to customers. 3) The Amber condominium Project, it is located at Tiwanon station of the purple line BTS. The project value is 2,000 MB with starting sale price of 2.59 MB and will be ready to move in from midyear 2018 onward.

For the project in Rayong, (Ban Chang), we currently have 3 projects which are The Sinthawee Garden 2, The Vintage Home Village 3 and The Hamlet 3. The overall sale volume and income are about 100 MB per year. We plan to push forward sale volume and income of at least 20% increase in year 2017 by developing image and style to respond to target customers and promoting selling point that is close to golf club and sport center with our excellence natural surroundings and social community. We believe that this area has a very high potential for future because of the location and government project on Eastern Economic Corridor (EEC) development in which its impact will be seen from the mid of 2017 onward.

In addition, Dr. Torsak said that the real estate business in 2017 will most likely be maintained as previous year because of the economic situation uncertainty which impact customer feeling to spend and also the high land price which is the consequence of the major infrastructure development policy of the government. While the purchasing power of consumer is not increased like the land cost, we will carefully develop our new project to answer the real consumer needs. However, for condominium market we believe there is still in high demand especially in the prime and connecting area that is convenient for daily travel such as along BTS or MRT lines or express way gateway which supports the current urban lifestyle.

"People will start to seek for condominium as a second home to live during working days. Moreover, the Mixed use project concept with the combination of residential, commercial, offices or other businesses will also be growing. In addition, the condominium price in middle to middle-high segment (price 5 to more than 10 MB) will be still in consumer demand." Dr. Torsak said.

Moreover our firm has adjusted the management structure, team and working processes to be more robust to support business growth and bring us to target goals. The main strategy is to build up "EStar" brand to be recognized as a brand of trust and reliability with almost 30 years of experience. We will emphasize our strength in design uniqueness and attention to every detail to respond to consumer lifestyle with various requirements as well as focusing customer needs by bringing in various tools such as Customer Relationship Management (CRM) program in order to gain more customer satisfaction. We will also expand to new target group to let them experience and becoming a part of our Eastern Star family.

In present, Eastern Star Real Estate Public Company (ESTAR) has authorized capital at 5,022,246,185 Baht (Paid-up stock) which is the one of upper real estate firms in SET Thailand. And with almost 30 years foundation, together with the strong financial status this can be ensured that our business will grow sustainably even though the economic situation is still fluctuated. Dr. Torsak said eventually.


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