Grand Unity Development Co, has decided to launch new projects for the first time in nearly two years, reports local media. The company, which froze new launches since mid-2015, plans to launch 4 new condo projects this year.
The new projects from Grand Unity Development will be located near the new mass transit stations along the Blue Line and Green Line extensions. Areas targeted include the Blue Line in Thon Buri and the Green Line from Mo Chit to Saphan Mai.
“We stopped launches last year as we were busy refreshing our condo brands and designs,” says Managing Director Siripong Srisawangwong to the Bangkok Post. “We revised our business strategy to maintain market share amid consumers’ fast-changing behaviour.”
The company believes now is a good time to get back into new condo launches and points out that the number of new projects it has this year is healthy because the market seems to be risky for a more aggressive investment.
“This year will be difficult for many developers. Those who are not professional will struggle as financial institutions will not offer project loans easily,” says Siripong.
Earlier this month, the company resumed business by opening presales of Condo U Kaset-Nawamin. The condo project is worth THB 886 million and is located between Lat Pla Khao Soi 58 and 60. There are 444 units with prices starting at THB 1.79 million. Grand Unity Development planned to launch the project last year, but decided to postpone those plans.
Grand Unity Development also intends to spend THB 2.7 billion to acquire new land plots for future development. This is up from the THB 900 million it spent on land acquisitions in 2016. The developer has set a target of THB 10 billion for presales, which it hopes to earn by 2020. That will be a big year for the company as it plans to launch new projects worth THB 15 billion combined then and possibly more.
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