There was some good news for Golden Land Property Development Plc after the company’s presales in the 1st quarter surpassed original estimates, reports local media. The developer has since revised its revenue target for townhouses to account for a surge in presales.
“The outperformance was attributed to 2 of 3 new sites we launched in the period that sold out in only 1 or 2 days, with sales of over THB 700 million at each site. Market sentiment in the 1st quarter also improved from the 4th quarter,” says Pawarun Udomsiri, Managing Director for townhome and semi-detached house developments at Golden Land, to the Bangkok Post.
Golden Land’s presales from townhouses during the 1st quarter of this year were THB 3.96 billion. This is over 81 per cent higher than the target of THB 2.19 billion it had set for the period. Golden Land is now aiming to reach THB 3 billion in presales in the second quarter, which is a THB 800 million increase from its earlier projections. It now hopes to earn THB 7 billion in presales in the first half and is now targeting THB 13 billion in townhouse presales for the entire year.
The developer plans to launch 2 new townhouse projects worth a combined THB 2.3 billion in the 2nd quarter and another 12 new townhome projects worth THB 14.8 billion in the second half. The 1st launch will be located in the Suksawad area and have 273 units when finished. There are also plans the launch a 476-unit project in Sri Racha that the company believes will meet increasing demand from industrial estate workers.
Golden Land is also planning for more launches in the future and will spend THB 7.85 billion in 2017 to acquire new plots of land. It will use this land to develop more low-rise developments featuring townhouses, semi-detached houses, and single houses.
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