SC Asset Corporation, a developer listed on the Stock Exchange of Thailand, has announced plans to rebrand and diversify into non-property businesses in response to a prolonged slowdown in the housing development sector.

The company's chief executive, Nuttaphong Kunakornwong, indicated that three main negative factors have persisted from the previous year: high household debt, excess supply, and low consumer confidence.

He noted that these challenges have intensified difficulties for residential developers in selling and transferring properties, making it challenging to launch new projects amid geopolitical volatility.

In an effort to mitigate risks associated with the current market conditions, SC Asset is exploring new investment opportunities unrelated to real estate, aiming to launch these ventures in the upcoming year.

The company plans to unveil a new logo in the latter half of this year as part of its rebranding efforts to attract a broader consumer base.

Additionally, SC Asset intends to enhance customer services by integrating its home service and solutions application, Rue Jai, with its utility token, Morning Coin, to facilitate the transition to new business areas.

Alongside its diversification strategy, SC Asset aims to concentrate on generating recurring income, particularly in the hotel and industrial estate sectors, which have demonstrated considerable growth since last year.

In mid-2025, the company is set to launch two new hotels: Kromo Bangkok, located near Sukhumvit Soi 29, and The Standard Pattaya in Na Jomtien.

These developments are being carried out through collaborations with Japanese property firm Daiwa House and contractor Syntec Construction.

SC Asset also announced plans to introduce warehouse spaces across three locations, comprising 78,000 square meters at Bang Na KM 20, 46,000 square meters in Laem Chabang, and 37,000 square meters in Amata City Chonburi, with launches scheduled for the second and third quarters of 2025. Furthermore, the company intends to expand its investment in apartment rentals in the United States, where it currently operates five projects.

Conversely, SC Asset has decided against making new investments in office spaces for rent, which currently total 119,568 square meters across six towers, citing concerns over market oversupply.

The company aims to increase its earnings before interest, taxes, depreciation, and amortisation (EBITDA) from recurring-income businesses from the current 20% to 25% of total revenue over the next few years.

Reflecting the challenging market landscape, SC Asset plans to launch only 15 new residential projects worth a combined 28 billion baht in 2025, a decrease from 17 projects valued at 31.8 billion baht in the previous year.

Mr. Nuttaphong emphasized that the current residential supply would take at least five years to be fully absorbed, compared to the two to three-year period characteristic of a healthy market, suggesting that a return to normalcy in the residential sector may take several years.