While many Thai developers are gearing up to launch projects in the 2nd half of this year, Richy Place 2002 Plc will not be joining them. Instead, the company will focus on selling the remaining units in 12 existing residential projects, reports local media. The developer hopes the move will allow it to reach its presales target of THB 1.8 billion this year.
“We launched all new projects for this year in the 1st half. We will boost sales from the existing projects in the 3rd quarter and plan to have marketing activities until late September,” says Richy Place President Apa Ataboonwongse to the Bangkok Post.
There are unlikely to be any big launches in the 4th quarter since the country will be preparing for the late King Bhumibol Adulyadej’s royal cremation. Marketing activities in all sectors across the country will be limited in October due to this. Meanwhile, Richy Place’s belief is that buyers avoid making purchases in November and go on holiday in December so it doesn’t make sense to launch projects during this time.
Richy Place has a total of 12 existing projects with 2,400 units. Of this total, 5 are already completed and these contain nearly 850 unsold units. The combined value of these unsold units is THB2.5 billion. Most of the units are in the company’s Rich Park @Chaophraya and The Rich Sathorn-Taksin developments.
The company has also decided to postpone the launch of a condo project on Ekamai until early in 2018. Located on Ekamai Soi 8, the condo development is 40 storeys and will have 400 units. Richy Place is targeting Japanese expats when it officially launches the project next year.
This will be the developer’s 2nd project in Bangkok’s central business district. The Rich @Nana launched last year and was the company’s 1st CBD development. Located on Sukhumvit Soi 3, the project has 427 units and is currently 30 per cent sold.
Image : The Rich @Nana via www.rp.co.th
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