SET-listed SC Asset Corporation plans to invest 20 billion baht from 2025 to 2029 in logistics, hotels, and office rentals, aiming to generate a total revenue of 10 billion baht over this five-year period from these recurring income sectors.
Chief Executive Nuttaphong Kunakornwong stated that diversifying into high-growth sectors such as logistics and hotels would enable the company to secure stable income in light of the challenges facing the residential property market.
“The residential market is encountering three significant hurdles this year,” he noted. “High household debt is increasing mortgage loan rejection rates, reduced consumer confidence has led to fewer customer visits, and a large volume of unsold inventory has heightened competition.”
SC’s recurring-income ventures, which will concentrate on domestic investments over the next five years, will be managed by SCX Corporation, a subsidiary established by SC several years ago.
Rachod Nantakwang, managing director of SCX Corporation, indicated that the majority of the investment will be allocated to logistics and hotels, with plans to spend around 2 billion baht annually on each sector.
Between 2025 and 2029, SCX aims to develop rental warehouses totaling 700,000 square meters. This includes 400,000 sq m along Bang Na-Trat Road at KM 20 and KM 23, 200,000 sq m in the Eastern Economic Corridor, and 100,000 sq m in Wang Noi district, Ayutthaya.
Two of these projects will be joint ventures with Japanese developer Tokyo Tatemono. One will be situated on a 90-rai plot on Bang Na-Trat Road at KM 20 in Samut Prakan, featuring a total lettable area of 80,000 sq m to capitalize on the growing e-commerce market.
The other project will be located on 3009 Road in Laem Chabang, Chon Buri, with plans for a total lettable area of 46,000 sq m, including 13,000 sq m for a general zone and 33,000 sq m for a free-trade zone aimed at the automotive sector.
In the hotel sector, SCX is constructing Kromo, Curio Collection by Hilton, which will feature 306 rooms near Sukhumvit Soi 29 in collaboration with Japan’s Daiwa House Industry.
The second hotel project, The Standard Pattaya Jomtien, will offer 161 rooms and is being developed in partnership with SET-listed contractor Syntec Construction. Both hotels are scheduled to open in the first and second quarters of 2025, respectively.
Additionally, the company has allocated a 1.4 billion-baht budget for office rentals, primarily focusing on renovating six existing towers with a combined lettable area of 120,000 sq m, which currently boasts an average occupancy rate of 90%.
