Sena Development is expected to launch nine new residential projects worth a total of THB5.3 billion in 2016. Despite seeing pre-sales increase in March, the developer is still being cautious with its plans for this year.
The company earned nearly THB1 billion in pre-sales during the first quarter. Pre-sales picked up significantly for Sena in March after a slow start to the year. Many buyers waited on the sidelines until the government revealed the details of its low-cost housing scheme. Sena has five projects with 1,000 total units available worth THB1.5 billion that qualify for the program. These will be ready to transfer within the year and unit prices range from THB870,000 to THB1.5 million.
And while the numbers are slowly turning around for the developer, deputy chief executive Kessara Thanyalakpark explained to the newspaper that Sena will remain cautious and conservative in the near term as there are still risks from the slowing economy and a possible oversupply in the housing market.
“We are ready to invest but need to be more cautious,” Kessara stated. “We plan to spend THB1 billion this year with THB800 million for land acquisitions to launch new housing projects next year and THB200 million for the solar business.”
The developer said that it hopes to earn THB4.52 billion in pre-sales this year which would equate to 27 percent growth y-o-y. Sena is also hoping to bring in THB250 million baht from recurring income during 2016. A golf course in Pattaya, warehousing, serviced apartments and a community mall are among the sources of this income.
Sena will also start investment in a new office building along with Aira Property and contractor Sangfa Construction and Engineering. Construction of Aspiration One should begin next year on a leasehold plot owned by the Crown Property Bureau.
