The Top 10 Largest Property Developers in Thailand

Conducting a property search as an investor or homebuyer in Thailand, can be a daunting and wildly confusing experience!

The country is teeming with residential projects at different stages of construction from newly launched to ready to move-in. “Knowledge is power” and understanding the local market dynamics allow investors to make better and more informed investment decisions. For example, in Bangkok’s competitive residential market, the choice of developers can affect returns and provide potential buyers with an investment edge. This is because established developers, generally have more construction experience and brand recognition!

Interestingly, most of Thailand and especially Bangkok is dominated by a few established listed development companies.

So who are Thailand’s biggest and most popular property developers?

According to AREA a leading Thai real estate consultancy, here are the rankings by number of residential projects launched and completed, between 1994-2018:

Largest Developers by volume and value of projects completed between 1994-2018. Data Source: Agency for Real Estate Affairs (AREA) Property Consultants.

As per the table above, the top developers by volume and value of projects launched and completed are as follows:

Pruksa Real Estate
LPN Development
Sansiri
Supalai
AP (Thailand)
Land and House
Quality House
Ananda Development
Property Perfect
Origin Property


As briefly mentioned above, all these Companies are leading SET Listed Developers and active serial homebuilders. Most of these Developers are Bangkok-centric, with most of their projects launched and completed in the Capital.

A quick glance at the table above, shows sizeable development volumes by Thai Developers. With Origin the last developer on the list, having developed 48 Projects worth USD 2.056 billion and the top developer Pruksa Real Estate having developed an impressive 654 Projects valued at USD 14.797 billion!

It is important to note that the most successful developers in the list, have branched out into different market segments (Entry-level, mid-market and luxury) and developed a combination of both condominiums and houses.

Company overview of the Top 10 Development Companies in Thailand

1. Pruksa Real Estate

Thailand’s biggest real estate developer, the company actively develops residential single-detached houses, townhouse/twin houses, and condominiums. Its projects are developed with the mission of delivering happiness and catering to modern lifestyles. In recent years, Pruksa Real Estate had diversified its line of business into recurring income business operations, notably healthcare and commercial property.

Development Strategy:

Pruksa Real Estate, has developed different lines of Projects to appeal to different market segments. Traditionally the developer focuses on low to middle income customers with brands such as “Plum” and “Fuse” condo. However, in recent years the company has made forays into the luxury premium segments with new launches such as “The Reserve” branded projects.

The Privacy Jatujak by Pruksa Real Estate

Examples of Completed and Upcoming Flagship Projects:

The Reserve Sathorn
Ivy Thonglor
Condolette Dwell Sukhumvit 26

2. LPN Development

LPN Development was started in 1989, its first project was Lumpini Tower a 38-storey project located on Rama 4. Since then, the serial developer has developed a reputation for building affordable starter condos that emphasize peaceful community co-living.

It now has a good track record of completed and successful projects developed under the “Lumpini” brand, notably Lumpini Park, Lumpini Ville and Lumpini Place. The company has also branched out into Building and Facilities Management.

Development Strategy:

As mentioned above, Lumpini Development’s core market tends to be in the middle and low income market segments. However, the developer has made some forays into the upper income segments, its flagship luxury condominium The Lumpini 24 located in Phrom Phong was completed in 2013.

Examples of Completed and Upcoming Flagship Projects:

The Lumpini 24
Lumpini Suite Phetchaburi – Makkasan
Lumpini Ville Onnut 46

3. Sansiri

One of Thailand’s most recognized and iconic developers, it has over 33 years of experience developing quality houses, townhouses and condominiums. Since its inception, Sansiri has developed 352 projects across Thailand.

The company also runs a property brokerage (Real estate sales and leasing) and property consultancy subsidiary “Plus Property”. In a bid to diversify, the cash-rich developer has also invested in hotels and a handful of other ventures such as co-working spaces and tech companies.

98 Wireless by Sansiri, currently Bangkok’s most expensive condominium.

Sansiri’s flagship project 98 Wireless located on the ultra-exclusive Wireless Road in Ploenchit, currently holds the status of being the most expensive condominium project in Bangkok. Units in the luxury residence are reportedly fetching over 500,000 THB per.sqm!

Development Strategy:

Like most developers Sansiri has diversified in a wide range of market segments, however its core market tends to be middle and high income buyers. At the time of this article’s publication, Sansiri’s flagship 98 Wireless is Bangkok’s most expensive condominium project!

Examples of Completed and Upcoming Flagship Projects:

98 Wireless
The Monument Thonglor
The Base Garden Rama 9

4. Supalai

Supalai another established household name, develops a combination of residential and commercial projects. The developer’s projects include a combination of detached houses, townhouses and condos. Some notable projects include Supalai Wellington and Supalai Premier.

Supalai Icon will be developed on the Australian Embassy’s former site.

Supalai made news in 2017, when it acquired the eight-rai site of the Australian Embassy on Sathorn Road for a jaw-dropping 4.6 Billion Baht. The developer is currently in the process of developing its flagship luxury mixed-use project “Supalai Icon” on the plot; the ambitious project will feature a 56-storey condos, an A-grade office tower and retail complex.

Development Strategy:

Supalai has branched into a variety of market segments, however it tends to focus mostly on the middle income market.

Examples of Completed and Upcoming Flagship Projects:

Supalai Icon Sathorn
Supalai Place @ Asoke
Supalai Wellington

5. AP (Thailand)

Established in 1991, AP (Thailand) is a recognized and respected brand. The developer focuses most of its development activities in Bangkok, and its condos tend to prioritize locations next to mass transit (BTS and MRT). Its line of projects includes townhouses, single detached houses (SDH) and condominiums.

AP (Thailand) usually develops condo projects under the brands “Aspire, Life, Rhythm and The Address”; each brand is specifically designed to service a certain market segment (From low to high-end). These branded condos are usually well-known by Bangkok’s residents and investors.

Development Strategy

The developer is a versatile company that has developed a range of projects to appeal to different market segments and age groups.

This segmentation is as follows:

Aspire = 25-35 Years Old, 48-82,000 Baht/ sq.m
Life = 25-45 Years Old, 90,000 Baht/ sq.m
Rhythm = 25-45 Years Old, 90-120,000 Baht/ sq.m
The Address= 30-55 Years Old, 120,000 Baht/ sq.m+

The Address Siam Ratchathewi AP Thai’s latest flagship project.

Examples of Completed and Upcoming Flagship Projects:

The Address Siam Ratchathewi
The Address Asoke
Aspire Sukhumvit 48
Life Sierra Sathorn


6. Land and House

Land and House concentrates its development activities on residential housing notably single detached houses with most of its projects located in Greater Bangkok. The developer has also made recent forays in the condominium market with new launches such as The Bangkok Sathorn and The Room Sukhumvit 38.

Land and House also operates “Homepro” a leading furniture, home appliances and DIY Store; LH Bank a retail bank; and owns substantial stakes in Q House its sister developer company.

Development Strategy:

Land and House’s core development projects tend to be single detached houses. However, it has also branched out into Condominiums in central Bangkok neighborhoods.

Examples of Completed and Upcoming Flagship Projects:

The Bangkok Thonglor
The Room Sukhumvit 69
Ladawan Rama 2

7. Quality House

Incorporated in 1983, Quality House develops a range of single detached houses, townhouses and condominiums.

Development Strategy:

Quality House, tends to have an emphasis on super-luxury and ultra-prime locations for its condominium projects. Some of its flagship projects include Q Sukhumvit a super-luxury condo with direct BTS Skywalk access to Nana BTS Station and Q Langsuan located in exclusive Chidlom.

Q Sukhumvit in Nana by Q House one of the few project with direct access to a BTS Skytain station.

Examples of Completed and Upcoming Flagship Projects:

Q Sukhumvit
Q Asoke
Q Langsuan

8. Ananda Development

Started in 1999 by Chanond Ruangkritya, Ananda Development has rapidly expanded and established itself as one of the leading developers in Bangkok.

Its tagline developing “urban living solutions”, is the key to the success of its business model that emphasizes functional city condos that are conveniently located in proximity to mass transit lines (BTS Skytrain or MRT Underground).

The developer has completed several Projects, under the brands “Ashton, Ideo Q, Venio, Ideo, Elio and Unio”.

Development Strategy:

Its urban condos tend to appeal to young working professionals, and the developer offers different projects to service different market segments.

Ashton Chula-Silom

For example Ashton, Ananda’s premium brand is usually aimed at affluent urbanites, whereas Ideo tends to be a middle-market offering.

Examples of Completed and Upcoming Flagship Projects:

Ashton Asoke
Ideo Mobi Sukhumvit
Q Chidlom-Phetchaburi

9. Property Perfect

Launched in 1985, Property Perfect was hit hard by the 1997 Financial Crisis, however the developer is now back in shape and actively developing new launches. In recent years it has been undertaking projects through JV partnerships with Sumitomo Forestry, Hong Kong Land and Seikisui.

Development Strategy:

Property Perfect has recently launched its super-luxury project Hyde Heritage Thonglor and in the middle-market it has completed Sky Sukhumvit.

Hyde Heritage Thonglor, Property Perfect’s latest JV Project with Sumitomo Forestry.

Examples of Completed and Upcoming Flagship Projects:

The Sky Sukhumvit
Hyde Heritage Thonglor
Hyde Sukhumvit 11

10. Origin Property

A relative newcomer, Origin Property the listed developer was launched in 2009. The developer initially started launching projects in peripheral neighborhoods such as Bangna in East Bangkok. However, it has now moved up the value chain and is now operating in all market segments from entry-level to the premium/ high-end.

Origin Property initially developed affordable condos in peripheral areas.

Development Strategy:

Origin Property initially focused on the middle and low income segment, with project branded Notting Hill and Knightsbridge. It is now also developing luxury projects under the Park Origin brand.

Examples of Completed and Upcoming Flagship Projects:

Park 24
Park Origin Thonglor
Notting Hill Sukhumvit 105

Buying or Investing in Thailand Property?

Bangkok is usually considered the most active and attractive real estate market in Thailand; with the country’s top residential developers, focusing their commercial and construction activities in the Capital.

However, there are other attractive real estate markets in alternative Thai cities notably:

– Pattaya
– Phuket
– Koh Samui
– Chiang Mai

Buyers looking to invest in Bangkok or explore the Capital’s real estate market, can also find more information here:

Can foreigners buy property in Thailand?

A Foreigner’s Guide to Buying and Investing in Bangkok Condos

Investment Guide: Bangkok Condo Rental Yields Overview

Bangkok Property Investment: A Guide to Buy-to-Let Condos

First Time Buyer Guide: Bangkok Off-Plan Condos

Fresh Property is a real estate agency focusing on Central Bangkok properties, if you are looking for a home or an investment, feel free to browse our selection of off-plan or resale condos. Alternatively, contact us directly by emailing us on info@freshbangkok.com.

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