Thai developers are starting to see some light at the end of the tunnel and local media reported that both Pruksa Real Estate and L.P.N. Development are planning to launch more developments during the remainder of the year due to rising confidence in Thailand’s economic performance.
Lersuk Chuladesa, co-chief executive of Pruksa, told the Bangkok Post that they will launch 38 projects worth THB30 billion combined during the rest of 2016. Pruska has launched 27 projects so far this year.
“Of the 38 new projects, seven single-house projects worth a combined THB6 billion were postponed from the second quarter as we wanted to wait for a clearer situation in the economy,” Lersuk stated.
The developer already has plans to launch two new condo projects in August. Plum Condo Ramkhamhaeng Station (imaged) will contain 1,003 units and be worth THB1.69 million. The company is also launching Plum Condo Pinklao Station next month.
Pruska hopes to bring in THB14.3 billion in pre-sales from condos this year. The developer earned THB21.5 billion in pre-sales during the first six months of 2016. This is down nearly THB3.5 billion y-o-y. The company has set a pre-sales target of THB51 billion for this year, more than a 20 percent y-o-y increase.
L.P.N. managing director Opas Sripayak told the newspaper that they would launch six condo projects worth a total of THB7 billion in Bangkok. The location for these will be Sukhumvit Soi 113, Asok and Phetchkasem Soi 98. The developer will also launch new projects in Cha-am and Hua Hin.
The company earned THB5 billion in pre-sales during the first half of the year, but this total is down from the THB8.9 billion it recorded in the same period last year. L.P.N. announced targets of THB17.6 billion in pre-sales and THB17.6 billion in condo revenue for 2016.
