Sansiri
Sansiri (SET: SIRI) is Thailand's luxury, premium condominium leader and one of the top-three listed residential developers. FY2024 consolidated revenue approximately THB 36B. Franchise strength is four decades of brand depth in the luxury, premium condo tier (flagship projects include 98 Wireless, KHUN by YOO, XT Ekkamai, The Monument Sanampao) plus a detached, townhouse portfolio under the Setthasiri, Habitia, and Burasiri brands. Strategic partnership with BTS Group anchors transit-oriented condominium projects along the BTS Skytrain network. Foreign-buyer demand (Chinese, Taiwan, Hong Kong, Russia) is disproportionately important to Sansiri's luxury pricing.
Snapshot
Headline numbers a buyer checks first.
FY2024 revenue
~THB 36B
FY2024
Tier
Luxury, premium condo leader
FY2024
Ticker
SET: SIRI
Listed 1996
JV anchor
BTS Group (transit-oriented)
Ongoing
What this company actually does
Sansiri develops luxury, premium condo (primary) plus detached house, townhouse (secondary) residential product. Condo flagship projects target the HNW, foreign-buyer segment at price points THB 200K+/sqm (98 Wireless, KHUN by YOO) down to premium THB 120-180K/sqm (XT, The Base, The Line brands). Detached, townhouse under Setthasiri (premium), Habitia (mid-premium), Burasiri (mid) brands. The BTS Group partnership funnels transit-oriented condo development along the Skytrain network; differentiation from competitors (Ananda, Noble) is Sansiri's luxury-brand depth, project-delivery track record.[]
Competitive position, beta profile: Sansiri is the listed Thai luxury-condo beta. Foreign-buyer demand cycles (Chinese outbound capital regulation, Russia-Ukraine-related relocation flows, Taiwan, Hong Kong wealth flows) drive Sansiri's luxury segment harder than peers. The 49% condominium foreign-ownership cap is a supply constraint that underwrites Sansiri premium pricing but queues foreign buyers onto the resale market on popular launches. Downside is mid-segment condo β where mass-market developers (Pruksa, LPN) compete hardest β and where household-debt-constrained domestic demand weighs most.[, ]
Product ladder and brand architecture
Ultra-luxury condo
98 Wireless (Ploenchit), KHUN by YOO (Thonglor) β $5.8-500K+/sqm. Foreign-buyer dominant; GCC, Chinese, Taiwanese HNW target.
Luxury and premium condo
XT, The Monument, The Line brands β $3.48-180K/sqm. Expatriate, affluent Thai buyer. BTS-adjacent locations prominent.
Standard condo
The Base, The Quad brands β $1.74-100K/sqm. Domestic Thai buyer, BOT LTV-constrained. Most household-debt-sensitive product.
Detached houses
Setthasiri (premium), Habitia (mid-premium), Burasiri (mid) brands for suburban Bangkok detached-house demand.
Townhouse
Value-townhouse brands supplement detached-house portfolio. Less foreign-buyer exposure; domestic demand driven.
Thailand top listed residential developers β FY2024
Revenue, presales, and market positioning for the five largest listed Thai property developers.
Ticker
SET:AP
FY2024 revenue
~ $1.1B
Primary tier
Mid-premium, balanced
Ticker
SET:LH
FY2024 revenue
~ $782.6M
Primary tier
Detached-house dominant
| Developer | Ticker | FY2024 revenue | Primary tier |
|---|---|---|---|
| Sansiri | SET:SIRI | ~ $1.04B | Luxury, premium condo |
| AP Thailand | SET:AP | ~ $1.1B | Mid-premium, balanced |
| Pruksa Holding | SET:PSH | ~ $927.5M | Mass-market, townhouse |
| Land and Houses | SET:LH | ~ $782.6M | Detached-house dominant |
| Central Pattana | SET:CPN | ~ $1.01B | Mixed-use, retail REIT |
Watchpoints
Foreign-buyer demand trajectory
Chinese, Taiwan, Russia wealth flows drive luxury pricing; policy-risk, capital-control sensitivity high.
49% condo cap utilisation
Popular luxury projects queue foreign buyers; structural supply constraint, resale premium.
BTS transit-oriented pipeline
Skytrain-station condo projects execute on 3-5 year cycles; BTS Group partnership depth.
Domestic mid-segment compression
Household debt, LTV compress mid condo demand; Sansiri's exposure secondary to luxury.
Related Market profiles
Peers, parents, partners, agencies, and other Real Estate & Property Development actors.
Competitor
AP Thailand
Top-3 residential peer; AP mid-premium, Sansiri premium, luxury.
Open Market profile β
Competitor
Origin Property
Condo, hospitality hybrid peer; Origin skews mid-premium condo.
Open Market profile β
Competitor
Central Pattana
CPN Dusit Central Park JV residential component competes in premium condo.
Open Market profile β
Sector peer
Bangkok Metropolitan Administration (BMA)
Bangkok's directly elected city government; administers 50 districts, 5.5M+ registered residents, and a $2.9B+ annual municipal budget.
Open Market profile β
Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Land Code, Condominium Act B.E. 2522 (+ amendments)
Publisher
Government of Thailand
Grade
Primary
As of
2008-12-31
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Sansiri PCL (SET: SIRI) FY2024 Form 56-1 One Report | Sansiri PCL | Primary | 2025-03-31 |
| Land Code, Condominium Act B.E. 2522 (+ amendments) | Government of Thailand | Primary | 2008-12-31 |
Reports featuring this profile
Thailand Smart Lock & IoT Home Automation 2027 Market Intelligence
Developer-direct integration team; T77, Sansiri Home Service in-house IoT spec across premium projects
Open report β
Sits alongside 2 other Atlas profilesThailand Co-Living & Digital-Nomad Stays 2027 Market Intelligence
Sansiri PCL SET-listed developer repurposing under-leased serviced-residence inventory to co-living format ASP THB 28K-65K per month
Open report β
Sits alongside 1 other Atlas profileThailand Modular Construction & Prefab 2027 Market Intelligence
Mid-tier developer cohort piloting 30-50 percent modular content in 2027 condominium pipeline; bathroom pods, kitchen modules, panelised wall systems via SCG Living partnerships.
Open report β
Sits alongside 6 other Atlas profilesThailand Senior Long-Stay & Retirement Visa 2027 Market Intelligence
Listed developer; Phuket and Hua Hin condominium foreign-quota inventory; LTR-buyer share rising
Open report β
Sits alongside 6 other Atlas profilesPattaya Entertainment Economics: Walking Street, Russian Inflow, and the Second-Tier Property Cycle
Sansiri Pattaya project portfolio.
Open report β
Sits alongside 4 other Atlas profilesHua Hin Retiree Economics: The Royal-Resort Westerner Residential Cluster
Major Hua Hin condo, house development.
Open report β
Sits alongside 4 other Atlas profilesBangkok Luxury Condo Resale: 49% Foreign Quota, Sukhumvit Anchors, and the 2025-2026 Cycle
SET-listed; tier-1 luxury-condo developer.
Open report β
Sits alongside 5 other Atlas profilesBangkok Condo Pricing 2026: USD 5-15K/sqm Sukhumvit Luxury, Phra Khanong USD 2-4K, and Foreign-vs-Thai Buyer Reality
Tier-1 luxury-condo developer.
Open report β
Sits alongside 5 other Atlas profilesSansiri: Luxury Condo Leadership and Foreign-Buyer Mix
SET-listed luxury, premium condo leader; FY2024 revenue THB 38.54B; 2024 presales THB 40.8B; flagship super-luxury 98 Wireless and KHUN by YOO; Tokyu JV and BTS Group partnerships.
Open report β
Sits alongside 3 other Atlas profilesCondo Foreign Quota: 49% Ceiling and Resale-Premium Mechanics
SET-listed luxury condo developer with significant foreign-buyer base; Khun by Yoo, 98 Wireless brands.
Open report β
Sits alongside 5 other Atlas profilesBangkok CBD: Condo, Office, and the Mixed-Use Pivot
SET-listed condo developer; super-luxury and luxury CBD portfolio; Khun by Yoo, 98 Wireless brands.
Open report β
Sits alongside 7 other Atlas profilesAP Thailand: Mid-Market Housing and the Bangkok Suburban Pipeline
Top-3 listed peer; FY2024 revenue THB 36B; skews premium and luxury condo versus AP's mid-premium; urban and resort-adjacent pipeline.
Open report β
Sits alongside 4 other Atlas profilesPhuket Residential: Foreign-Buyer Demand and 2025-2027 Pipeline
Major Thai listed developer with significant Phuket project pipeline; foreign-buyer-led demand exposure.
Open report β
Sits alongside 4 other Atlas profilesThailand Real Estate & Property Development Market Intelligence
Luxury, premium condo leader; BTS Group transit-oriented JV; foreign-buyer-demand beta.
Open report β
Sits alongside 10 other Atlas profilesThailand Condo Pre-Sale & Developer Liquidity Deep Dive
Top-5 listed condo, SDH, townhome developer; strong Bangkok CBD, foreign sales.
Open report β
Sits alongside 6 other Atlas profilesThailand MRT, BTSC, SRT Ridership & Farebox Deep Dive
Sansiri condo developer targeting BTS, MRT station-adjacent TOD.
Open report β
Sits alongside 3 other Atlas profilesThailand Foreign Condo Ownership & Leasehold Structure Deep Dive
Foreign-buyer programme, Bangkok CBD, Sukhumvit luxury condo.
Open report β
Sits alongside 6 other Atlas profilesThailand Airbnb, Short-Stay Condo Rental Deep Dive
Top condo developer; foreign-investor short-stay condo.
Open report β
Sits alongside 5 other Atlas profilesThailand Condominium Foreign Ownership, Leasehold Structure Deep Dive
Premium condo developer with foreign-buyer-focused projects (Bangkok, Phuket)
Open report β
Sits alongside 2 other Atlas profilesRelated Market profiles
competitor
AP Thailand
Top-3 listed residential developer; detached, townhouse, Mitsubishi Estate condo JV; FY2024 revenue ~THB 38B; mid-premium segment leader.
competitor
Origin Property
Mid-premium condo, hospitality hybrid; One Origin portfolio, Origin Hospitality chain; FY2024 revenue ~THB 18B; One Origin Industrial diversification.
competitor
Central Pattana
Thailand's largest commercial-real-estate developer; ~40 malls, mixed-use, Dusit Central Park JV; FY2024 revenue ~THB 48B; Central Group listed vehicle.