[Special Scoop] Thailand’s property market is poised for a major turnaround this year due to the massive number of new projects in developers’ pipelines. Most of these new projects were postponed from the 4th quarter of last year and are now set to be launched this year.
More than 220 projects worth a combined THB 264 billion are expected to come onto the market this year, while developers’ budgets for land acquisitions have increased to THB 67.3 billion. In addition to this, DDproperty.com has collected information that shows the total number of 2017’s new projects from Thailand’s 10 leading developers. These are the results:
- Pruksa Real Estate PCL. (PSH) – Pruska has 72 new projects worth a combined THB 60.8 billion set with a land acquisition budget of THB 16 billion. This is an increase of THB 2 billion from last year.
- Supalai PCL. (SPALI) – There are 29 new projects worth a combined THB 37 billion planned by Supalai. The company’s land acquisition budget will increase by THB 3 billion from last year to THB 8 billion.
- Golden Land Property Development PCL. (GOLD) – The developer will launch 21 new projects worth a combined THB 21 billion. The developer’s land acquisition budget has increased by THB 4.8 billion from last year. Golden Land will invest THB 7.8 billion on land this year.
- L.P.N. Development PCL. (LPN) – L.P.N. has 20 new projects worth a combined THB 23.5 billion planned. The company has a land acquisition budget of THB 4 billion, an increase of THB 1 billion from last year.
- AP (Thailand) PCL. (AP) – There are a total of 20 new projects worth a combined THB 35 billion in the pipeline. AP’s land acquisition budget is THB 8 billion this year.
- Sansiri PCL. (SIRI) – Expect 19 new projects worth a combined THB 41.2 billion from Sansiri this year. The company’s land acquisition budget is estimated to be around THB 7-7.5 billion, lower than last year’s at THB 9 billion.
- SC Asset PCL. (SC) – SC Asset is set to launch 17 new projects worth a combined THB 27 billion in 2017. SC Asset’s land acquisition budget will increase to THB 3 billion from last year, coming in at THB 8 billion.
- Land and Houses PCL. (LH) – The company has 12 new projects worth a combined THB 14.9 billion scheduled for this year. Land and Houses’ land acquisition budget for 2017 is THB 7 billion.
- Lalin Property PCL. (LALIN) – There are 8-10 new projects worth a combined THB 4 billion planned by Lalin. The land acquisition budget is THB 1 billion, slightly larger than last year’s THB 800-900 million budget.
- Eastern Star Real Estate PCL. (ESTAR) – Eastern Star Real Estate is preparing 2-3 new projects worth a combined THB 3 billion this year. The developer has welcomed a new CEO, Dr. Torsak Lertsrisakulrat.
Other developers with plans for 2017 include Origin Property PCL who has 9 new projects worth a combined THB 15 billion ready. The developer has 3 Knightsbridge-branded, 3 Notting Hill-branded, 2 Kensington-branded, and 1 housing projects planned. Singha Estate PCL aims to hit the market this year in the residential, hotel, and office sectors with a total project value of THB 15.5 billion set. Sena Development PCL has 11 new projects scheduled for this year worth a combined THB 9 billion.
Thailand’s property market this year is expected to grow by 5 per cent in 2017 with the total market value estimated to be THB 379 billion. In spite of the massive number of upcoming projects, which could signal the start of a real estate turnaround in the country, consumers still need to be informed before making any decisions to buy or sell property.
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