Property Perfect Plc believes next year will be a good one for Thailand’s real estate market and is prepared to launch 25 new projects worth a combined total of THB31.4 billion, reports local media. The company also announced it will reach consolidated revenue growth of 24% this year up from an estimated THB19 billion.
Of its 25 launches in 2018, 21 will be low-rise projects worth THB26.5 billion. Property Perfect will also launch 4 condos worth THB4.9 billion. The company has set a growth target of 21% for its property business next year with the low rise segment driving this growth.
Property Perfect launched a total of 15 projects in 2017 with10 of these being single-house and townhouse developments. It is building projects in the Rangsit, Chaeng Watthana, and Bang Na areas as well as one on Krungthep Kreetha Road. The 5 condo projects are worth THB6.89 billion and located on Charan Sanitwong Soi 13, Wutthakat Road, Phahon Yothin Road, Seri Thai Road, and Sukhumvit Soi 77.
The developer’s original pre-sales target was THB18.3 billion for this year, which was an increase from the THB10.8 billion it earned in 2016. However, the weak performance of the property market in the 1st half of this year forced Property Perfect to revise its pre-sales target down to THB15.1 billion with the revenue target being brought down to THB19.01 billion.
“As the operating results are clearly improving in the 2ND half, we expect the new targets for both pre-sales and revenue to be achievable. And with improving results and land sales, the company’s financial status is expected to significantly improve, with the ratio of net interest-bearing debt to equity remaining at 1.6 this year and dipping to 1.3 in 2018,” says Property Perfect Chief Executive Chainid Adhyanasakul to the Bangkok Post.
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