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Bangkok Condo Developer, Pruksa’s Five Year Business Plan

By on Mar 03, 2015 in Property News, Residential

30214717-01_bigThe Bangkok condo developer, Pruksa Real Estate, has drawn up a five-year business plan to boost annual presales and revenue to Bt100 billion apiece by 2019. This is based on the country’s economy growing by between 4 per cent and 5 per cent a year.  “We have revised our target to boost both presales and revenue to Bt100 billion by 2019, now that the economy has got over the floods in 2011 and [is recovering from] the political uncertainty in 2013 and 2014,” Thongma Vijitphongpun, president and CEO of the listed residential developer, said on the sidelines of a press conference.

This year, Pruksa has set aside a budget of Bt14 billion for buying undeveloped land for residential projects. Cash flow and a debenture worth Bt3 billion will account for the financing, he said.

The developer targets presales of Bt47 billion and a similar amount in revenue this year, up 20 per cent and 10 per cent respectively from the Bt39.09 billion and Bt42.7 billion posted in 2014. To achieve its five-year presales and revenue targets Pruksa is planning to expand its residential projects in Bangkok and the provinces.

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