Developer Supalai has set aside THB 8 billion to buy land in 2017 as it looks to fulfil its ambitious plans for the year. Local media claims that the developer is planning 29 residential projects worth a total of THB 37 billion with a majority of the new developments being detached houses and townhouses.
The company is forecasting presales of THB 27 billion this year which is an increase from the THB 24.5 billion it had in 2016, Managing Director Tritecha Tangmatitham says. Supalai earned revenue of THB 24.5 billion last year.
A total of 24 of the company’s new projects will be detached houses and townhouses, The Nation reports. There are also plans for five condominiums including the luxury Supalai Oriental Sukhumvit 39 project that is worth THB 10 billion. That project will open for bookings later this month.
Some of the new projects will be in Bangkok while Supalai will also be launching others in provinces such as Chiang Mai, Surat Thani, Songkhla, Phuket, Nakhon Ratchasima, Udon Thani, Chon Buri, Rayong, Khon Kaen and Ubon Ratchathani, according to media outlets. Tritecha reports that Supalai is confident of a property market recovery in 2017 as potential buyers who delayed their decisions late last year finally make decisions.
“However, we accept that the market will also face high competition this year as most of the property firms that delayed launching new residential projects in the last quarter of last year plan to launch more new projects this year,” Tritecha is quoted as saying.
A Supalai senior official says the company is forecasting that the government’s planned infrastructure projects will help the economic situation in the country and improve demand for homes which was not as strong as hoped in 2016. Supalai has several new projects in Greater Bangkok that are located close to the mass-transit system and the developer believes this will boost sales.
