With 2017 proving to be a difficult year for developers due to a sluggish market, Supalai Plc is hoping the situation improves next year. The company has plans to launch over THB42 billion worth of new residential projects in 2018 as it looks to increase revenue by 15%, reports local media.
“The economic outlook in 2018 will definitely be better than this year. The private sector is set to invest more once exports grow and domestic consumption increases. Property market growth is also reliant on easier mortgage approval,” says Supalai Chief Executive Prateep Tangmatitham to the Bangkok Post.
With the economy expected to improve next year, Supalai will look to use its land plots across the country for new developments. The company owns land in Bangkok and 12 provinces valued at THB70 billion. Its existing projects currently have THB50 billion worth of housing available for sale.
The company isn’t done launching projects this year as it has plans to announce 17 new projects before the end of 2017. These developments will be worth THB15.7 billion combined and include 14 single-house and townhouse projects. A total of THB6 billion worth of projects will be launched in Greater Bangkok while THB4 billion will be launched in the provinces. Supalai will launch 3 condo projects this month.
“The new condo projects will help boost presales in the final 4 months. We moved up the launch period of condo projects from the 4th quarter to September, as the country will have an important event in October,” says Supalai Managing Director Tritecha Tangmatitham.
The new condo projects will all be located in the Thon Buri area. The company is launching the new projects here since new supply has been limited in the past few years. The biggest condo launched will be Supalai Premier Charoen Nakhon valued at THB2.8 billion. That project will have 578 units.
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