Supalai announced major plans for 2016 as the company hopes to capitalize on the government’s recently announced property stimulus measures. The developer said it is planning to launch 29 residential projects next year with a specific focus on low-rise developments. The total value of the projects is estimated to be THB35 billion.
Of the 29 projects, nine will be condominium projects worth roughly THB15 billion. According to Supalai deputy managing director Tritecha Tangmatitham, the company will also launch 20 single-house and townhouse projects worth THB20 billion. The company has seen recent success with low-rise units and believes they can be transferred to buyers quicker than condo units.
“We achieved a new record in sales of low-rise units last month,” he said. “This represents better sentiment in the low-rise market after the property tax incentives take effect.”
Supalai saw a significant increase in sales of single houses and townhouses in October. The developer record THB1.3 billion in sales, a significant jump from the THB1.1 monthly average. The developer totaled THB16 billion in residential sales during the first ten months of 2015 and said it expects to earn THB23 billion by the conclusion of the year. If the targeted sum is reached, this would be 18.6 percent increase from last year.
Supalai’s next launch will occur next week when it unveils the Supalai Riva Grande condo worth THB6.3 billion. This project has the highest sales value in the company’s history. The development is located on an 11-rai riverfront site on Rama III Road and will be made up of three towers. There will be a total of 706 condo units and 14 shops at the project once completed.
The plot of land cost Supalai almost THB1 billion and was purchased by the company in late 2014.
