Property Perfect plans to launch 16 new projects worth a combined THB 22.2 billion this year as the company believes that Thailand’s property market is set to recover in 2017, reports local media. The goal of the company is to have 80 per cent growth in presales by the end of the year.
The company has an outlay of THB 3 billion that it will use to buy new plots of land for future project development. The majority of the company’s launches in 2017 will be located on existing plots it already owns. The company has a number of sizable plots in its land bank, including one in the Rattanathibet area and another on Ramkhamhaeng Road.
“Using our own land banks to develop projects will improve our gross margin as we have held them for many decades,” says Property Perfect Chief Executive Chainid Adhyanasakul to the Bangkok Post.
Property Perfect is also going to develop two other plots this year. The 1st plot is on Krungthep Kreetha Road and will be the site of 3 low-rise residential projects. The company also has plans to develop a project along a new road, the Thai Chamber of Commerce Road, in the Chaeng Wattana area.
“Other than us, there are three large developers including Pruksa Real Estate, SC Asset Corporation Plc and Sansiri Plc planning to develop residential projects worth a combined 10 billion baht in this location,” says Chaind.
The company has plans to launch a total of 11 single house and townhouse projects in five locations with almost half of these located in the Rangsit area. There will be 2 more projects on Bang Na Road. Property Perfect also has plans to develop 5 condo projects worth a combined THB 7.9 billion.
In addition to this, there are plans in place for the company’s hospitality subsidiary. Grande Asset Hotels & Property Plc, to launch a 200-room hotel on a hillside plot in Rayong. There will also be villas for sale at this new resort.
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