Thanasiri yesterday launched Anabuki Thana Residence Kanchanaphisek-Rama IX — its latest luxury residential project in Bangkok.

MAI-listed developer Thanasiri Group has maintained its 15% revenue growth target this year, supported by the launch of a new upper-end low-rise housing project that is expected to capitalise on strong demand and high purchasing power in this segment.

Chief executive Sutthirak Sateanraphap-a-yut said demand for low-rise housing in the high-end segment remains strong, buoyed by greater borrowing capacity compared with the lower to middle-income segments.

"This segment will be key to achieving our 15% growth target this year, despite persistently challenging market conditions since the fourth quarter of last year, carrying over into the first quarter this year," he said.

Last year Thanasiri recorded revenue of 1.23 billion baht, representing 10% growth from 1.1 billion in 2023.

However, this fell short of its 15% target due to weakened housing demand during the final quarter amid an economic slowdown.

Mr Sutthirak said these challenging market conditions continued into this year's first quarter, with additional pressure coming from the reciprocal tariffs imposed by the US, which are expected to significantly impact both the global and Thai economies.

"We are maintaining our 15% growth target for this year. We will monitor this quarter's developments and their impact on the Thai economy and housing market before considering any adjustments. However, we anticipate a market contraction," he said.

The recent relaxation of loan-to-value (LTV) regulations announced last month has revived customer engagement, said Mr Sutthirak.

After a period of hesitation, buyers have returned to project sites and begun discussions with financial institutions about mortgage financing.

"Since early this month, we've observed condo residents among our site visitors -- many expressing an interest in transitioning to low-rise homes," he said.

"The March 28 earthquake raised safety concerns about high-rise living, particularly for families with elderly members who faced challenges evacuating from upper floors during the tremor."

Thanasiri on Tuesday launched Anabuki Thana Residence Kanchanaphisek-Rama IX -- its latest luxury residential project.

The development features 74 single-detached homes priced between 20-25 million baht a unit, representing a total project value of 1.5 billion baht. The development is located on Kanchanaphisek Road in Prawet district. It is the fifth joint venture project with Anabuki Group, a Japanese housing developer.

Thanasiri expects to have 200 million baht in sales from the project by the end of 2025. The project is Thanasiri's only launch this year as it becomes more cautious when it comes to investment given the chances of a global economic recession.