Kitha Properties has set its sights on a big 2016 by announcing plans to launch three new projects worth a combined THB7.5 billion next year. The developer, known for its Than Living and My Story brands, already has four land plots set aside for its upcoming projects.
The company has launched five condo projects worth a combined THB10.5 billion over the past few years and over THB6 billion worth of units have been sold by the developer. Kitha Properties raked in THB1.4 billion in revenue from its My Story Ladprao 71 project. The company also earned THB800 million from the Than Living Ratchada-Prachautit development.
Of the developments the company will launch next year, two will be in Nonthaburi’s Bang Bua Thong district near the Purple Line’s Sai Ma station. The projects are expected to contain 2,000 units worth a total of THB4 billion.
The company is undecided on whether it will build a condo project or a mixed development with condos and townhouses on its 20-rai site at Ram Intra Road near Nopparat Hospital. Kitha Properties also has a two-rai site on Phetkasem Road near Siam University and the Bang Wa BTS station where it plans on developing a condo project worth THB1.4 billion.
“We’ll consider the property market situation again in the middle of next year and decide whether to launch the projects,” a company spokesman told the newspaper.
Entertainment firm Adamas Incorporation now owns Kitha Properties after a recent scandal in the early part of the decade. Adamas acquired all shares of Kitha Properties from T Land, a Singaporean fund in the early part of 2014. T land had bought the company, formerly known as Siralai Co, from founders the Chansakulporn family, including Soravis and Thanyaporn, and major shareholder Kinkaew Limpisuk in late 2013.
