Pruksa plans to invest 3.5 billion baht in property, healthcare and tech startups

Pruksa Holding plans to spend 3.5 billion baht in property and healthcare technology businesses to improve its primary operations and increase cash flow, following a 2 year restructure and stock clearance. The CEO stated that the company’s two major operations, property development and hospitals, will be synergised with technology and innovations.

Their plan is to invest in startups via joint ventures within the next 3 – 5 years, according to the Bangkok Post. Several of these startups will work in genomics and chemical facilities.

“We will combine real estate and healthcare business into one, introducing designs for well-being and offering a wellness service both at our residential projects and at home.”

The company has chosen approximately 100 companies, including their own staff and external contenders. They will be enrolled in an innovative boot camp to collaborate with Pruksa before establishing collaborative enterprises.

Pruksa will invest 6.5 billion baht in residential development and Vimut Hospital this year, in addition to 3.5 billion baht for technological startups.

The company restructured itself and eliminated remaining stock over the last two years, reducing its investment budget from more than 20 billion baht at the end of 2019 to 7 billion baht in 2021.

Pruksa Real Estate, one of the company’s divisions, said it expected to build 31 new residential developments for a total of 16.3 billion baht in 2022. According to Pruksa’s market analysis, the residential valuation in Greater Bangkok was 296.5 billion baht last year, a 10% increase from 2020.

SOURCE: Bangkok Post