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10 Largest Real Estate Firms in Thailand
AREA Press Release No. 52/2019: February 04, 2019

Dr.Sopon Pornchokchai, Ph.D. Dip.FIABCI, MRICS
President, Agency for Real Estate Affairs (AREA)

Let's explore the top ten largest real estate companies in Thailand which are listed companies in the Stock Exchange of Thailand.

 

Dr.Sopon Pornchokchai, President, Agency for Real Estate Affairs which is Thailand's largest real estate information research and valuation centre in Thailand disclosed that since the first monthly survey in January 19994, some  20,000 housing projects were found.  There have been some 10 largest real estate projects which are those housing developers as follows:

The Pruksa  Real Estate Plc is the largest real estate company in Thailand.  It is listed in Thailand's Stock Exchange. During the past 28 years, it has develops 654 projects with a total units of 230,112 valued at USD 14.797 billion. However, its average price is only USD 64,299. The total number of units developed by Pruksa Real Estate is more that that of the National Housing Authority (excluding those subsidized low-cost housing units).

 

The LPN Development Plc is the second largest company in terms of the units developed.  It has developed 117,369 units at the lowest average price of USD 44.465 billion.  Most of its developments were in the Bangkok Metropolitan Region.  However, during the past few years, its targets have been changed from low-cost housing to mediam-priced housing due to the lower affordability level of those lower-middle income groups.

 

The Sansiri Plc is the third largest companies in Thailand with 286 projects, 87,631 units at a total value of USD 10.756 billion. However, it is the largest developers in provincial cities outside the Bangkok Metropolitan Region.  It has developed 53 projects, 22,148 units at the total value of USD 1.717 billion in provincial cities.  Although it has developed higher-middle income housing units in Bangkok, it has developed more lower-middle inocme housing outside Bangkok.

 

Land and House Plc has become No.Six in the priority.  Twenty years ago, it was Number One.   It has developed higher priced detached houses.  Its average price per unit is USD 144,659.   However, it the Quality House Plc which is is related companies are considered together, their size would be very gigantic.  Mr.Anand Asavapokin has a younger brother, Mr. Anupong Asavapokin who owns AP (Thailand) Plc.  Actually  this family of Asavapokin has possessed the largest share in housing markets in Thailand.

 

Of the first ten largest companies, there are two which were established after the 1997 crisis or less than 20 years old.  These two are very active companies, namely, the Ananda Development Plc and the Origin Property Plc.  The total value of the developments catered by these ten largest companies is USD 75.245 billion which is a lot larger than the fiscal budget of many countries in the ASEAN Region.

 

Some 30 years ago, the Bangkok Land Plc was the largest  companies in Thailand who developed a few large townships.  Then some 20 years ago, the Land and House became the largest.  Its strategy was to developed many projects in many locations to quest for opportunities and minimize risks.  Then some 10 years ago, the Pruksa Real Estate Plc became the largest.  It has developed in many locations and at many price ranges; whereas, the Land and House Plc centred on high-priced housing.

 

Although the ten largest companies have been growing, it might not be able to monopolize the markets.  Small developers can compete with large developers as well inasmuch as they are professionals and study the market properly.