Sansiri revealed its plans for 2016 which include 21 projects that will have a budget of THB27 billion. The developer will launch developments in Bangkok as well as other locations in Thailand and could also look for international opportunities as well.
Wanchak Buranasiri, chief operating officer said that the company will be the sole developer for 70 percent of the 21 new projects schedule for next year. The remaining 30 percent will be developed by its joint venture with the BTS Group. The partnership is behind the popular The Line brand.
The developer will also look beyond Bangkok and Sansiri will begin work on three new projects to be located in the provinces of Chiang Mai, Udon Thani and Phuket, The Nation reported. Wanchak is optimistic that demand for residences in Thailand will return in 2016 due in part to the government’s investment to develop the country’s infrastructure. Mass transit, double railways, motorways and expressways are either being constructed or are scheduled to begin construction next year.
Sansiri had to postpone the launch of six residential projects worth THB8 billion in 2015 after the company saw demand in the second half of the year decline sharply. All of these projects will be unveiled this year with the headline development being a luxury condominium project on Wireless Road.
There were only 11 projects worth THB22 billion launched in 2015 by Sansiri. The developer had originally planned to launch 17 projects worth THB30 billion but the company had to reduce that number as the expected growth in the Thai property market failed to materialize.
It was also noted by Wanchak that Sansiri is also studying overseas opportunities and is considering buying residences in the UK and New York valued at or below THB1 billion. The company would then renovate these properties and sell them to Thai buyers who want a home abroad for their family. The developer has already recorded success selling residential projects in the UK during the past two years.
