Sirilert Group is well known as a contractor, but the company is now looking to expand into property development and will spend up to THB2.5 billion in 2018 to help it reach its goals. The company will build 2 residential projects in Bangkok and a hotel in Samui among other developments, reports local media.
“Small or new developers should find a gap in the market and develop a niche product to meet customer requirements. Differentiation and flexibility are key to competing with large developers,” says Sirilert Group Executive Director Yuthaluk Siripornleart to The Nation.
Its 1st major project will be the development of a 100-villa hotel on a 43-rai beachfront land plot in Samui. The project will require an investment of THB1.4 billion and will be close to Chaweng and Lamai Beach on Koh Samui. The company is already negotiating with a hotel chain about managing the property upon completion.
Sign Condo Sukhumvit 50
In addition to this, Sirilert Group has set aside THB600 million per year to develop a pair of residential projects in Bangkok in 2018. The 1st will be a detached housing project on Phutthamonthon Sai 2 Road with 23 units. The company is targeting a launch early next year. They will also announce plans to develop a low-rise condo project valued at THB400 million later on. The project is going to be located close to a mass transit line in Bangkok and have no more than 120 units.
Sirilert Group is preparing to launch Sign Sukhumvit 50 next month. The 8-storey condo is located on Sukhumvit 50 and will contain 105 units that are all fully furnished. Half of the units are already booked and the company is expecting the rest to be sold in the next 3 months. This is Sirilert Group’s 2nd condo project. It launched L15 Condo in 2014.
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