Major Development Plc will launch a total of 4 new projects in 2018 as it is predicting an upturn in Thailand’s economy, according to local media. The 4 developments are worth a combined THB8 billion with 3 of the projects being condos.
“We’ve seen signs of market recovery since the second half of this year. We’re ready to start launching new projects early next year to capitalise on the trend,” says Major Development Managing Director Suriya Poolvoralaks to the Bangkok Post.
As part of the scheduled launches, the company will unveil a luxury detached housing complex on Krungthep Kreetha Road. It also has plans for a luxury condo on Lang Suan Road. The location of the 2 other condo projects to be launched next year will be announced later.
The company has had a lot of success selling units to foreign buyers this year. Foreign clients made up 30% of Major Development’s pre-sales and the company is expecting this figure to increase in 2018 due in part to the overseas roadshows it will hold.
“It is noteworthy that there is growing purchase interest this year from foreign buyers, notably Chinese from Hong Kong, Taiwan, and the mainland, mostly in the form of bulk purchases through property agents. Growing foreign purchases are also partially thanks to the company’s roadshows in Hong Kong and Singapore, while the purchases are mainly for investment and rental purpose,” says Suriya.
Major Development has no plans to launch any more new projects in 2017 as the October mourning period and the slower year-end period for the property sales make it difficult for these to be successful. Instead, the company will focus on opening sales offices in Ekamai and Lat Phrao to support its MARU Ekkamai 2 and MARU Ladprao15 developments. Its 1st project launch in 2018 will likely take place early in the year.
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