Thailand’s SET-listed Sena Development plans to branch out into warehouses, serviced apartments and asset management, while planning 49 new residential projects
SET-listed Sena Development plans to branch out to warehouses, serviced apartments and asset management, while planning 49 new residential projects worth a combined 27.5 billion baht in 2022.
Managing director Kessara Thanyalakpark said the company wants to diversify to other businesses this year to increase stable revenue from recurring income.
Most of the new ventures are related businesses that can support property development, said Ms Kessara.
“Warehouses will be the first one we want to invest in, as demand is growing during the pandemic,” she said.
“We are interested in serviced residences in which we will co-invest with Japanese developer Hankyu Hanshin Properties Corp.”
About 1 billion baht is an investment budget for new businesses Sena will invest in this year. It will also include asset management under SK Asset Management Co and personal loans for home purchases under Power Cash Co — a business it was incubating.
After buying a 24.16% stake in MAI-listed housing developer J.S.P. Property Plc (JSP) last year and becoming its major shareholder, Sena is bullish on the residential development business.
It plans to launch 49 new projects worth a combined 27.5 billion baht, compared with 12 projects worth 10.2 billion last year.
The new projects will comprise 21 condo projects and 28 low-rise housing projects.
Source: Bangkok Post PCL and Thailand Construction News