Thai listed property developer Ananda Development has announced Q3 revenues that are up 80 percent from the same quarter last year, and profits of THB225 million for the quarter, up from a loss of 96 million in Q3 2013.
The developer also revealed that its recent launches were very successful, with two sold out. The company also gave its first indications for its 2015 business plan, which included a launch schedule of THB29 billion worth of new projects and expected revenue and presales growth of 23 percent and 14 percent respectively.
During the quarter the company launched four new condominiums close to mass transit stations – Ashton Asoke (pictured), Ideo Q Siam-Ratchathewi, IdeoMobi Sukhumvit Eastgate, IdeoMobiWongsawang Interchange, with a combined project value of almost THB15 billion.
The company also announced its initial guidance for 2015. The company is aiming for revenue growth of 23 percent over 2014 due to the completion of previously launched projects during the year and presales growth of 14% from a series of launches of new condominiums and housing projects that will exceed 29 Billion Baht throughout the year.
Commenting on the success of the recent launches, Ted Thirapatana, Chief Business Development Officer for Ananda, said: “The strong sales rates for our recent launches and our ability to raise prices shows that well located projects are in demand from Thai consumers.
“We will be able to offer more of these kinds of projects to the public next year and expect our sales rates to remain strong.”
Chanond Ruangkritya, Chief Executive Offcer of Ananda, said: “Ananda is the current leader in Bangkok mass transit living, and we believe we will end the year the second biggest seller of condominiums in the country. Next year we hope to achieve market leadership.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.
