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Bangkok Condo Developer – Noble Targets B4bn Sales

By on Sep 18, 2014 in Property News, Residential

Bangkok Condo SET-listed developer Noble Development Plc targets 4 billion baht in sales in the fourth quarter from three new residential projects worth a combined 6 billion baht. They are due to be launched this year.  Vice-president Theeraphon Voranithiphong said the company was confident that Noble Recole, worth 2.3 billion baht, would be sold out on the first booking date on Sept 28 because of strong demand.

The project will have 288 units sized 34-69 square metres and priced 180,000 baht per square metre. It will be located on a 1.5-rai site on Sukhumvit Soi 19.

“Condos in the Sukhumvit area near skytrain stations attract both Thai and foreign demand either for investment or for residence,” he said. The rental rate in the locale is around 30,000 baht per month for a one-bedroom unit with a yield of 5-7%.

In the fourth quarter, the company will launch a lower-priced condo project on Chaeng Watthana Road worth over 1 billion baht with units priced 2 million baht. During the first eight months of the year, Noble recorded 2 billion baht in sales and expects to have a total of 6 billion baht by the end of the year.

NOBLE shares closed unchanged yesterday at 10.30 baht, unchanged, in trade worth 603,000 baht, while MK shares closed at 4.14 baht, up two satang, in trade worth 4.35 million baht.

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