Strategy of Condominium Development and Thailand’s Economic Circumstances : Case study of Pruksa Real Estate Public Company Limited

Abstract

          Real estate is very important to the national economic. By the success of private sector is majority. Especially condominiums that have rapidly expanded from the last 10 years and become a highly competitive market today. From the selection of case studies that are outstanding by the amount of income, Pruksa Real Estate Public Company Limited, with the main objective of studying corporate strategy including how to deal with the economic conditions in each year that lead to product strategy. And conceptual part in development process of each current brand By collecting secondary data from publications by the Office of the National Economic and Social Development Council, Bank of Thailand, Annual report (56-1) and other medias then doing primary data process as a secondary source by interview with executives and relevant teams.
           Vision is to be a leader in real estate term with a wide range of businesses and services in order to meet all customer’s needs which the company structure is divided into value and premium side with different strategies and concepts. Value side focuses on building a large group of customer base, not complicated, focusing on price and location as a priority. As Premium side focuses on making a difference from customer's lifestyle.
          Conclusion, Strategy of condominium development of Pruksa Real Estate Public Company Limited is to expand the port to grow and be flexible in the market. By creating vary of businesses, products, and services to be used as a tool adjusting according to economic circumstances in each year which will be divided into 3 periods, which are Stage 1 (2007-2010) started development of condominium projects by using cost management strategy in line with the government's BOI policy. Stage 2 (2011-2014) oversupply situation , flooding and political problems. Still using cost management strategy as a main along secondary strategies for building completion, transferring quickly and building strength in the organization. Stage 3 (2015-2019) the high market is needed. Competition began with the innovation and mixed use project that led to new brands with value customers' lifestyle. Focusing on value-added and online marketing strategies based on cost management strategy as a priority.