SC Asset is set to launch 11 new single house and townhouse projects during the 2nd half of 2017, reports local media. These projects are estimated to be worth THB 12 billion combined. The company is confident that it will meet its revenue and presales targets this year with this strategy.
The overall residential market has rebounded in the opening 4 months of 2017 with single houses and townhouses priced from THB 3 to 10 million performing well. This segment has recorded significant growth to start the year. Another segment also performing well at the moment is luxury homes. The demand for these has also grown.
“The momentum will continue throughout the rest of the year. This segment had very good sales in the overall market despite banks’ higher rejection rate,” says SC Asset Chief Executive Nuttaphong Kunakornwong (pictured).
SC Asset recently launched a single house project where unit prices start from THB 25 million. Grand Bangkok Boulevard Srinakarin brought in THB 300 million in presales during a 2-day kick off event bettering the THB 350-400 million per month the company usually earns during a launch period.
The company has earned almost THB 6 billion in presales so far this year and it hopes to have made THB 16 billion in 2017. SC Assets presales in the 1st quarter were up 30 per cent when compared to the same period last year. The company saw significant demand from its single house and townhouse projects as well as its luxury 28 Chidlom condo development.
At the moment, SC Asset has a sales backlog of THB 9 billion and it believes 30 per cent of this will be realised in the last three quarters of the year. There was some bad news for the company as it recorded a 47 per cent year-on-year decrease in revenue, reports the Bangkok Post.
Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews
