Plus Property Reinforces Its Leadership in Premium Property Management, Capturing More Than One-Third of Bangkok’s Luxury Market
International service standards drive sustained annual business growth of more than 10%
Plus Property, Sansiri’s fully integrated property and residential management arm, has reinforced its position as a leader in premium property management, commanding a 36% market share of condominium projects in Bangkok with selling prices exceeding THB 250,000 per square metre—representing more than one-third of this luxury market segment.
The strong market position reflects the confidence and trust that premium property owners and clients continue to place in Plus Property’s expertise, service quality and long-standing experience.
Narumol Aphonthanakul, Deputy Managing Director, Building Management Division, Plus Property Co., Ltd., said:
“Plus Property has more than 30 years of experience in property management and currently oversees more than 40 million square metres of space nationwide. We are committed to delivering internationally recognised service standards through the implementation of ISO systems across all our projects.”
“One of our key strengths lies in our ability to design and deliver premium services tailored to the unique requirements of each project. At the same time, we continue to invest in our people through Plus Eduplex, our dedicated training institute, which helps enhance employees’ skills and professional expertise while providing clear career pathways, job progression and competitive compensation. This enables us to retain high-quality talent capable of consistently delivering services to the highest standards.”
Maintaining consistent service quality and ensuring the proper upkeep of a project’s systems and infrastructure inevitably involve rising operational costs. Achieving the right balance therefore requires a shared understanding between property owners, management teams and residents regarding appropriate common-area fees, ensuring that residents continue to receive the level of service they expect.
While the property management industry continues to grow, the market still faces challenges related to non-professional management practices and a lack of understanding among some residents regarding rising common-area expenses. These factors can result in a gap between residents’ expectations and the quality of management and services ultimately delivered.
At the same time, the number of truly experienced and specialised professionals in the market remains relatively limited. Building teams with the necessary knowledge, operational expertise and understanding of internationally recognised management standards requires significant time and experience. This has positioned Plus Property as one of the preferred choices for clients, particularly within the premium property sector.
Sustained Growth Through a Focus on the Premium Segment
Plus Property’s continued focus on premium developments has delivered strong business results. Over the past five years, the company has recorded average annual revenue growth of more than 10%, with revenue increasing from THB 1.4 billion to THB 2 billion, and the business continuing to demonstrate strong growth potential.
The company’s strong market position and reputation are reflected in the portfolio of premium projects that have entrusted their property management to Plus Property. These include 98 Wireless, The Monument Thonglor, KHUN by YOO, Athenee Residence, The River, The Bangkok Sathorn, The Met, Millennium Residence, AESTIQ, Ashton Asoke, THE CROWN Residences and THE ESSE 36.
Plus Property has also expanded its expertise into the growing Branded Residence segment, with projects including The Standard Residences Hua Hin and Phuket.
Its commitment to service excellence has also been recognised through leading national and international awards, including Best Property Management from the Dot Property South East Asia Awards and Best Luxury Property Management from the LivingInsider Awards.
“We do not compete primarily on price. Instead, we focus on building long-term value through service quality and professional standards,” Ms. Narumol added. “For clients seeking an experienced and highly professional partner to manage premium developments and provide comprehensive residential management services, Plus Property offers the expertise, capabilities and strong track record required to meet those expectations.”
Technology Enhances Efficiency Amid Labour Challenges
The industry is also facing increasing labour shortages as the number of residential developments continues to grow. In response, Plus Property has integrated technology into its operations to enhance efficiency and optimise workforce management.
This includes LIV-24, an intelligent AI-powered security solution, as well as the Kuhu Application, a residential living platform designed to support residents and improve everyday property management. These technologies help reduce reliance on manpower while increasing operational speed, efficiency and accuracy.
Looking ahead, Plus Property remains firmly focused on the premium market, both in Bangkok and key tourism destinations across Thailand. The company believes that competition in the sector will increasingly be defined by service quality, with professional property management playing a critical role in protecting and enhancing the long-term value of real estate assets.
“Plus Property will continue to focus on the premium market, both in Bangkok and major tourism destinations. We believe that the next phase of competition will be increasingly defined by the quality of service, and that professional property management will be at the heart of preserving and enhancing the long-term value of real estate,” Ms. Narumol concluded.
