SC Asset has joined the growing list of Thai property developers to release their plans for 2017. The developer says it will launch 17 residential projects in Thailand this year. Local media reports that these projects are going to be worth a combined total of THB 27 billion.
The Nation adds that SC Asset Chief Executive Officer Nuttaphong Kunakornwong has set a total income target of THB 14.8 billion and a sales revenue target of THB 16 billion for the company this year. Moving forward, the developer is targeting revenue of THB 20 billion in 2019.
Of the company’s scheduled launches in 2017, 6 will take place in the first half of this year. 4 of these developments are detached-housing while the other 2 are going to be condo projects. SC Asset also has plans to open 11 horizontal projects in the second quarter.
According to media reports, the company is confident that demand for middle and upmarket homes is still strong and thinks many potential buyers in this category who delayed their purchases last year will buy in 2017. The company has created a strategy for sustainable, double-digit revenue annual growth to in order to reach its income target 2019.
“Our strategies include top-line growth: a proactive strategy to develop residential projects at all price levels to maintain SC’s leadership in the high-end market and expand our share in the mass-market segment,” says Nuttaphong.
The company is aware that there could be some challenges this year. The global economy could be affected by US policy under President Donald Trump, and this is something that may affect the Thai real-estate sector in the medium to long term, says Nuttaphong. He is also watching household debt and non-performing loans in the housing market as these two factors will have the greatest short term impact on the country’s housing market.
Source: image from homewithdream.com
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