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Bangkok Condominiums – Top Developers Post Rise in Revenue

By on Sep 06, 2014 in Property News, Residential

Most listed property firms have posted revenue and net-profit growth for the first half of the year, while an across-the-board fall in presales reflects the fact that the residential market declined during the period. The first-half financial results of developers are in line with presales in 2012 and 2013 for homes that were delivered to customers this year, especially among companies that develop condominium projects.  However, new presales in the first half of this year were at a lower level than during the past two years.

The listed developers posting first-half results to the Stock Exchange of Thailand, and achieving revenue and net-profit growth from the same period last year, are Pruksa Real Estate, Land & Houses, AP (Thailand), Supalai, Ananda Development, Raimon Land, Univentures, Major Development, Golden Land Property Development, Lalin Property, and Sena Development.

Sansiri recorded a fall in revenue but growth in net profit, while Quality Houses and Property Perfect both posted revenue growth but a decline in net profit.

LPN Development and SC Asset Corp, meanwhile, recorded year-on-year falls in both their revenue and net earnings.

Meanwhile, all 16 listed developers posted first-half presales that were lower than in the same period last year.

This was largely due to home-buyers delaying their decision to purchase a property during the political turmoil in the first quarter, as well as the country’s economic contraction during the first three months of the year – and growth of less than 1 per cent in the second quarter.

Given the better outlook for the remainder of the year, all residential developers – both listed and non-listed – have begun to parade the launches of new projects over the second half of the year. These projects are worth more than Bt177 billion combined, according to a survey by The Nation last month.

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