Real estate/Singha Estate

Singha Estate to drive revenue beyond 14 billion baht

Editorial staff

Singha Estate Public Company Limited (S), an international property developer and investment company, plans to spend 7-7.5 billion baht to expand business this year

Of the total, 4 billion baht will be used to develop two residential projects, and the remaining belongs to hotel expansion.

It also plans to enhance and rebrand existing assets to uplift value while targeting to maintain recurring income at 70% of its portfolio and drive total revenue beyond 14 billion baht this year with a focus on building a high-quality profit base.

Chairath Sivapornpan, Chief Executive Officer of Singha Estate Public Company Limited, or S

Chairath Sivapornpan, Chief Executive Officer of Singha Estate Public Company Limited, or S, said that challenges from the Thai economic outlook and global geopolitical tensions have significantly reshaped the real estate landscape. Building a strong profit foundation by addressing “quality-driven business” and truly understanding “customer needs” in each business segment has become the core of real estate operations in today’s environment.

In 2026, the company will therefore move forward under the concept “STRONG FOUNDATION, SCALING THE FUTURE” to drive stable and sustainable growth across its four core businesses, covering residential, hospitality, commercial, and industrial estate and infrastructure.

This direction comprises three key strategies. The first strategy, “STRENGTHEN THE PROFIT ENGINE,” focuses on reinforcing the profit base from recurring income businesses, namely hospitality and commercial, which together contribute approximately 70% of the portfolio, and the balance, 30%, belongs to non-recurring income businesses.

At the same time, the commercial business remains another key engine supporting recurring income. This year, the company is enhancing its office buildings into a “Seamless Work-Life Destination” to support modern working lifestyles that integrate a workspace with quality of life. The company prioritizes maintaining high occupancy rates by expanding its tenant base while retaining key tenants.

Singha Complex and S Metro currently maintain occupancy rates of over 90%, while S Oasis stands at 56% with a target to increase to 70% by year-end despite intense market competition. Addressing “customer needs” in workplace living is therefore critical.

In addition to strengthening recurring income, another key driver of significant profit growth in 2026 is land sales from the Industrial Estate business, which focuses on “quality customers.”

The target group comprises hyperscale data center operators growing in line with rising demand for cloud, AI, and digital services across the Asia-Pacific. These facilities require large land plots, a highly stable power supply, sufficient and quality water resources, fiber optic infrastructure, and access to alternative energy sources.

S Angthong Industrial Estate is fully equipped to meet these requirements. The company targets land sales of 200 to 400 rai to attract global data center players and further unlock the growth potential of Thailand’s digital economy.

Beyond land sales, the company expects to more than double revenue from utilities such as electricity and water supply for these customers, further strengthening its recurring income base.

The second strategy, “SCALING THROUGH PARTNERSHIPS,” focuses on expanding growth through collaborations to enhance competitiveness, reduce investment risks, and leverage specialized expertise in each business.

This aligns with today’s limited economic growth environment, where project development must emphasize quality and responsiveness to customer needs. The company is confident that expanding through partnerships will be a key long-term value driver for Singha Estate’s portfolio.

It continues to explore various partnership models, including flagship developments such as THE ESSE or SIRANINN, additional projects with One Real Estate Company Limited, branded residences integrated with the group’s hotels, and potential investments in related businesses such as warehouses or ready-built factories for lease with expert partners.

The third strategy, “STRONG FUNDING CAPABILITY,” emphasizes maintaining financial strength alongside financial discipline. The company manages investments efficiently, controls debt levels, and maintains appropriate liquidity to withstand economic volatility and seize new investment opportunities. It maintains a balanced funding structure of approximately 70% bank loans and 30% debentures to optimize financial costs and flexibility.

Beyond these three core strategies, the company continues to drive its organization under ESG principles amid a challenging economic environment. Sector- Real estate

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