Bangkok--29 Apr--Oasis Media
The Home Builder Association reveals today that the total home building market value in 1Q09 still on target but 2Q09 will decreases 10-15% It is, however, still confident to hit its 10.5 billion Baht target as they could steal more shares from small contractors. The Association also urges home building companies to quickly upgrade themselves both in terms of product development and service standard in order to create consumer confidence, while the Association will speed up its PR activities to promote its new image. As part of its PR plan, the Association will organize a corporate identity design contest, where winners will receive total cash prizes of 140,000 Baht, at the Architect ’09.
Mr. Panthep Thanchitikul, President of the Home Building Association, reveals today that the home building market in 1Q09 still on target as total value THB 2,600 million but 2Q09 will decrease 10-15% affected by the global economic slowdown and the local politic turmoil. If the government policies can’t make a consumer confidence, the market on 3Q2009 will effected. The Association still maintains its target at Baht 10.5 billion Baht in 2009, which implies an increase of around 7% YoY from 9.8 billion Baht in 2008.
It is undeniable that all business sectors are adversely affected and so is the home building business. It is expected that the home building market in Bangkok and its vicinity will decrease by 10%, yet the Association still maintains a slight improvement in its target due to the expectation that home building companies will be able to steal some portions from small contractors and increase their market shares from 17% to 20%. In this regard, it has urged its members to quickly upgrade themselves especially in term of product development and service standard so that they could leapfrog when the economy returns to normal.
“We must admit that the economy is currently at its downturn. Despite this fact, we view that this is a good opportunity for the home building business, as a whole, to adjust itself. Individually, home building companies must seriously analyze and upgrade themselves as well as find ways to break through the current turbulence. There are still abundant purchasing powers in the market, but the consumers just lack of the necessary confidence. Though the economic sentiment is low, there are people who are willing to buy now and they will only look for companies they could trust. In this regard, we must quickly create product confidence, especially in our quality and standards.” Mr. Punthep said.
Mr. Panthep further added that, on the Association’s part, it will speed up its PR activities to make the business become more recognized. There would be more marketing activities, especially at the Architect ’09, where the Association would take 16 member companies to participate, to create higher market awareness in broader market segments rather than specific niche markets like in the past.
Mr. Suratchai Kunghakij, Vice President - Academic Affairs of the Home Building Association, also discloses that besides organizing a pavilion at the Architect ’09, the Association has also organized an activity to publicize the Association to the general public through a corporate identity design contest, namely the Home Builder CI Award 2009. This contest, where winners will receive total cash prizes of 140,000 Baht, is open to students as well as the general public and divided into 2 rounds. The first round when all contestants are welcome to submit their works in accordance with the Association’s terms and conditions is from today till July 24, 2009. A screening will then be done by a panel of judges with representatives from education institutions. Those selected will be invited to the final round at the Architect ’09 in August 2009.
Besides publicizing the Association to the general public, it is hoped that this corporate identity design contest will help revamp the Association’s image in order to cope with its future market expansion. The new Association’s corporate identity is expected to be due for a launch some time in 2010.
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