A sales campaign by Ananda Development Plc has begun as the company looks to energize revenue and sales amongst unclear economic outlook in Thailand. Ananda is best known of its line of Ideo developments located near BTS Skytrain stations in Bangkok.
Ananda chief executive Chanond Ruangkritya said that a big sales event is to be held on August 12th-16th and will kick off a campaign that will see the company invest THB70 million. The developer is expected to launch four new sales projects at the event worth a total of THB11 billion. These developments will be located at Bang Na, Sukhumvit Soi 115, Sukhumvit Soi 31 and Phetchaburi Road. The company hopes to raise THB 4.4 billion from presales of these projects.
“It’s hard to predict [the property situation] in the second half,” Ruangkritya said. “There’s still a question about whether the high take-up rate of condo projects launched in the first half represented a healthy market of not. If presales are very good but sold units are not transferable [due to buyers’ reluctance], it will mean nothing”.
Five condo projects have already been completed by Ananda with the combined worth of the remaining transferable as well as for sale units totaling THB5.6 billion.
Elio Del Rey on Sukhumvit Soi 64 is worth THB3.3 billion and is 78 percent sold while Elio Sukhumvit 64 is worth THB2.5 billion and is 92 percent sold. Other projects include Ideo Mobi Charan Interchange which is worth THB3.7 billion is 76 percent sold and Ideo Sathorn-Thapra worth THB3.8 billion is 52 percent sold.
Andana has successfully secured 80 percent of its targeted revenue, THB10 billion, for the year by the end of June. The first quarter net profit of THB74 million on revenue of THB1.39 billion is down 33 percent and 22 percent from the same period a year ago, however.
