Sena to expand housing, warehouse portfolio in 2022

PeteFriday, March 4, 2022Last Updated: Friday, March 4, 2022

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Sena to expand housing, warehouse portfolio in 2022 | Thaiger

Sena's apartment, Piti Sukhumvit 101 | Photo via Sena's website

Sena Development intends to expand into warehouses, serviced apartments and asset management in 2022, while also developing 49 new residential properties valued at 27.5 billion baht.

This year, the company intends to venture into new sectors in order to increase stable earnings from regular income, with the majority of new operations connected firms that can help with property development, the managing director told the Bangkok Post.

“Warehouses will be the first one we want to invest in, as demand is growing during the pandemic. We are interested in serviced residences in which we will co-invest with Japanese developer Hankyu Hanshin Properties Corp.”

Sena’s investment budget for new firms is approximately 1 billion baht. New firms include asset management and personal loans for home purchases.

Other businesses will be in the wellness industry, collaborating with medical specialists to deliver healthcare and financial services to homebuyers.

Sena is optimistic on the home development market after purchasing a 24.16% stake in MAI-listed house developer J.S.P. Property last year and becoming its majority stakeholder.

It aims to launch 49 new projects costing 27.5 billion baht, increasing from 12 projects totaling 10.2 billion baht in 2021. The new projects will include 21 condominiums and 28 low-rise housing developments.

It will have 90 properties in total, with the remaining units for sale valued at a total of 52.6 billion baht, an increase from 41 properties worth 25.1 billion in December 2021.

Moreover, the Sena’s apartment portfolio, which is its primary sector, will fall to 60% from 80% last year, while the company’s low-rise housing portfolio will increase to 40% from 20% following the strategic takeover.

SOURCE: Bangkok Post