Plus Property Casts 3 Tactics as It Engages Year 2024 Setting an Income Target of 1.8 Billion Baht
25 Mar 2024
plus news and update
Plus Property Casts 3 Tactics as It Engages Year 2024, Setting an Income Target of 1.8 Billion Baht Brand quality, new businesses and technology development being highlighted
Plus Property Co., Ltd. (PLUS) is reinforcing its leadership in full-service professional property and facility management, taking aim at expanding its business while maintaining its top position in the quality aspect. Over the past year, PLUS had success with managing about 400 real estate projects nationwide, which accounted for more than 20 million square metres of area under management.
For 2024, the company is highlighting a strategy focused on brand quality, expansion of new businesses, and technological improvement. PLUS has its sights set on diversifying its clientele and accepting management contracts for property projects in categories where it competes well and has potential for durable growth.
Mr. Anukul Ratpitaksanti, managing director of Plus Property Company Limited, said “In 2023, the company achieved operating results that were in accord with the established targets. There was 1.7 billion baht in sales in total. In 2024, the Thai property market is expected to remain stable, carrying over from 2023.
The GDP, Thai economic recovery, will adjust to 2.6% due to market-supporting factors such as the return of foreign tourists, as well as state sector policies issued to stimulate many aspects of the economy. This year, PLUS has laid down a guideline for its business, namely Quality Framework – overarching work system development with emphasis on using quality to drive operations.
Existing expertise is being merged with technology and market insights to expand on PLUS’s business and deliver services that match the demands of clients, creating an advantage over competitors.
This year, the established revenue exceeds 1.8 billion baht.
PLUS expects to grow sturdily, owing to its 4 main businesses that include
- Residential projects and juristic person management (Property Management)
- Commercial buildings management (Facility Management)
- Smart security solutions (LIV-24)
- Real estate agent/project sales consultancy (Sale Management & Brokerage).
Emphasis is being placed on businesses in markets where PLUS has expertise, and reasserting the company’s one-stop service solutions.
Meanwhile, expansion will be made into new businesses and this allowed PLUS to project that its portfolio will expand to some 450 projects that span all products and segments, from residential and commercial buildings to community malls, schools, hotels, hospitals and factories, illustrating PLUS’s capacity to truly accommodate the demands of all groups of clients.
For 2024, PLUS’s strategy and work plans call for a year of growth. 3 tactics have been laid down to drive business and deliver quality services that respond to all dimensions of client requirements.
1. Quality Brand
The strength of the brand will be reinforced to reassert leadership in the property management business. Owing to close interactions with residents at client projects, information had been collected and analysed to enable insights into the requirements of the residents.
This is especially true for the luxury clientele, where understanding about “Customer Journey” has been achieved, resulting in improved capabilities to deliver services at every touch point and thereby creating superior first-rate experiences at every step.
The selection of personnel is undertaken attentively, with trainings and work quality inspections routinely carried out by the PLUS Eduplex institute. The quality of service has been uplifted at many projects, with specialists in Design Service & Experience accommodating clients’ demands for specialised services.
PLUS is well aware that at the heart of the service business lies efforts to maintain the service standard in parallel with the globally accepted level. PLUS is committed to maintain its leading position in the quality aspect by elevating the service standard and improving work efficiency.
It also strives to help reduce unnecessary expenses and create added value for property projects. These endeavours have allowed clients to be satisfied and resulted in more than 90% of clients continuing to place their trust in PLUS’s services.
2. Business Opportunities
This tactic allows PLUS to expand on its juristic person management business toward newer businesses, for the purpose of fostering sustainability. Using a customer centric approach, a new business lineup will heed to 360-degrees all-around demand. PLUS develops additional services to respond to changing client requirements.
This year, emphasis is on expanding the luxury group of clients, in light of the direction of the property market where real estate developers have increasingly pivoted to projects in this segment. This will add opportunities in holiday destinations, where after move-in services are being augmented through the Villa Management solution, on top of the usual sales and marketing services already on offer.
The initiative is meant to deliver “Total Solution” to investors, and is being piloted firstly in Phuket province.
Furthermore, the LIV-24 smart security technology is another business which displayed immense potential over the past year, producing a staggering income growth of 118%.
This is prompting PLUS to continue to expand its LIV-24 portfolio from residential projects toward commercial developments as well as penetrate other businesses, all the while developing the appropriate technologies that would fill the gaps that exist in the market for comprehensive security solutions.
3. PLUS Technology
PLUS is giving importance to client residents’ requirements, and thus has continually made investments in developing technologies that would elevate the customer experience. This year, technologies have been developed to cover work relating to a greater number of systems.
The Home application serves as the center for communications and information relays between residents and the juristic person. The app receives feature updates that respond to changes in the behaviors of residents. Examples include in-app registrations of pets and parcels management.
The PLUS Concierge Service is presented as a selection of services that cater to the real needs of residents, such as cleaning work, air-conditioner cleaning, and in-property maintenance work. Service providers are selected with consideration given to quality and price.
PLUS Concierge is easy to use through the application and scheduling a service is a simple affair that residents can achieve on their own.
“Today, PLUS clearly declares it is the number one company in the minds of clients. To deliver the best quality of life possible, we are committed to excellence in creating and elevating our service standards in line with the global practice.
With expertise covering all aspects, PLUs has made preparations to expand on its business and grow in tandem with the demands of the market. Investments have been made in technology systems to increase work efficiency.
The most prominent portion of income – 80% – will be derived from the management of residential and commercial projects. Active efforts are ongoing to seek new clients in multiple industries to support the continued growth of the business. These are the new challenges for this year”, said Anukul.
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