The leadership of its CEO also allowed the company to navigate Thailand’s political upheaval and the pandemic rather well.
The Nichada Group of Companies is a leading player in the real estate industry in Thailand known for establishing in 1989 the first gated international community in the country: Nichada Thani.
Nichada Thani is an exclusive and luxurious residential community in Nonthaburi, Thailand, offering various real estate options for rent and sale. The development now spans over 395 acres and includes exceptional amenities such as Nichada Fitness and Recreation, international supermarkets, a health and dental clinic, and two international schools within the community.
Moreover, it is also home to the Nichada & Natakorn Lake Condominium, a remarkable engineering feat with its foundation securely built in the middle of a 49-acre man-made lake.
The residential community stands out in the ultra-luxury market for its commitment to sustainability and eco-friendliness. Its patented construction technology Nichada Locked Stone, as well as open floor plan design allow residents to showcase their personal style whilst maintaining high safety standards.
Its innovative approach is being driven by the belief of the company’s CEO Nichada Changrew that a home should reflect the homeowner’s lifestyle, taste, and quirks. Under her leadership, the company has undergone a significant transformation over the past decade, resulting in multiple accolades.
Changrew also spearheaded several community initiatives that have strengthened a sense of communion within Nichada Thani. This feat brought recognition to her as she has been recognised and rewarded for her leadership in the emerging young entrepreneurs scene in Thailand.
In recent years, Nichada Group faced significant financial pressures due to Thailand’s political upheaval, causing the departure of several prominent oil companies and resulting in a decline in ex-pat tenants for its rental properties. The pandemic further exacerbated the situation, leading to historically low occupancy rates and making it challenging to attract new customers due to inadequate exposure.
Despite these challenges, Changrew and the company remained committed to maintaining the company’s integrity by upholding high-quality materials and services. Instead of resorting to price-dumping, she chose to renovate vacant properties, making them more attractive to the real estate market whilst actively pursuing a diverse range of tenants and upgrading personal services to distinguish themselves as high-quality provider.
The CEO also shifted the company’s focus from rental properties to the sale of residences, launching its first ultra-luxury collection of mansions, the Jewel Collection. This controversial move has not only injected cash flow into the business but has also enabled the company to maintain its core belief in abundant greenery whilst limiting overpopulation.
The Jewel Collection features stunning new developments that are functional, sustainable, and aesthetically pleasing. Changrew personally curated every aspect of these properties, drawing on her extensive experience in construction in Nichada Thani and personally testing each innovative materials with her own residences.
At the same time, the CEO prioritizes efficiency at every turn, utilising innovative tailor-made ERP systems to optimise performance, reduce costs, improve customer satisfaction, and increase its competitive advantage.
The success of and innovations brought forth by Changrew and the company have been recognised by the Real Estate Asia Awards as they took home the CEO of the Year and the Developer of the Year – Thailand category wins, respectively.
Nichada Thani also clinched the Luxury Residential Development of the Year – Thailand win for its commitment to sustainability. The prestigious awards programme honours the most innovative real estate developments and laud industry players in Asia Pacific that stand out in the market.