Sansiri (SIRI) successfully sold ฿1 billion in digital debentures in just 67 seconds via the Pao Tang app, with participation from 2,100+ retail investors. The offering achieved notably inclusive outcomes: 39% of purchases were under ฿100,000, and the investor base expanded to younger demographics (ages 20–90) and wider geographic distribution. The company lowered minimum investment from ฿100,000 to ฿1,000 in partnership with Bangkok Bank, democratizing bond access. However, the real estate sector faces persistent headwinds—smaller/mid-cap firms struggle to place bonds above 7–8% yield and resort to asset sales to cover debt. Fed rate increases are driving up funding costs across the market.