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Bangkok Condo – Eastern Star set to launch 2 projects

By on May 02, 2014 in Property News, Residential

Eastern Star Real Estate plans to launch 2 new Bangkok condo projects worth Bt7billion this year to boost presales to Bt1.8 billion this year.  At present, the company has total backlog of Bt3.7 billion with units already sold and awaiting transfer to buyers this year and next year. Of the total, Bt1.65 billion will be booked as total revenue this year, and the rest, worth Bt2.05 billion, will be booked as revenue in 2015.

The company recorded total revenue of Bt1.54 billion and net profit of Bt158 million in 2013.

Ratanachai said the company believed that its total presales and total revenue would achieve the target because up to 50 per cent of its customers buy residences in cash, and the rest apply for mortgages from banks. Meanwhile, only five per cent of its customers failed to get mortgages from the banks because of they did not meet the banks’ standards.

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