SET-listed developer Sansiri Plc is moving at full speed to become the Thai property company most trusted by foreign customers.
It racked up 1.5 billion baht in sales to foreigners in the first five months of 2016 compared with only 800 million baht in the same period last year.
The biggest group of overseas buyers was from Hong Kong (600 million baht), followed by mainland China (350 million baht) and Western countries (200 million baht).
Sansiri's Mori Haus project in its T77 development on Sukhumvit Soi 77 proved to be the most popular due to its proximity to an international school, community mall, expressway and the skytrain, sweeping up sales of 700 million baht.
Resort condo projects in Pattaya, Phuket and Hua Hin were also well received by foreign buyers with above-target sales of 500 million baht. The most sought-after projects were Baan Plai Haad Wong Amat Pattaya, The Deck Patong, The Base Uptown Phuket and Baan Mai Khao Phuket.
Sansiri president Srettha Thavisin said that after becoming Thailand's most trusted brand, the company was working towards achieving that distinction among foreign customers for its global sustainable growth.
Sansiri regularly holds overseas launches for Thai projects.
"The main objective for purchases as cited by Hong Kong and Chinese customers was for investment, with Bangkok and resort areas being the main targets for their attractive returns on investment," Mr Srettha said. "Meanwhile, Western buyers look more towards owning vacation homes that can be rented out for profit while not occupied."
Sansiri's "Earn from the Holidays" plan for those who want to buy a holiday unit to live in and to rent out at satisfactory rates has also driven business.
In the last seven months of 2016, Sansiri will launch seven new projects, while roadshows will be organised to present projects to potential customers abroad.
"Our marketing effort this year will focus on Hong Kong and China due to the fact that the monetary volatility and high costs of property investment in these territories have been inducing investors to turn their eyes to Thailand, where the returns from rents are higher but the cost of investment is two to four times lower," Mr Srettha said.
Sansiri is targeting sales to foreign customers of 5 billion baht this year, with total condo sales reaching 28 billion baht.
The developer will launch The Line Asoke-Ratchada condo on June 11-12 simultaneously in Hong Kong, Singapore, Taiwan and China. Targeted presales are 600 million baht.