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Bangkok House and Condo Developments – Developer Cash Management

By on Feb 17, 2014 in Property News, Residential
Property companies are restricting the launch of new residential projects and using financial management to drive their business this year, amid a drop in purchasing power due to slower economic growth and the ongoing political turmoil.”We have to manage our cash flow at this time, having seen our customers delaying their decisions to buy and transfer homes in the current quarter,” said Thongma Vijitpongpun, president and CEO of Pruksa Real Estate, the residential market leader. He added that while the demand to buy was still there, the prolonged political uncertainty had damaged home-buyers’ confidence to take the plunge.Land & Houses managing director Adisorn Thananun-Narapool said the company was halving its inventory of homes ready to transfer to customers, from 600 units to 300 a month. This will help the company to manage its cash flow during a period of lower sales value, which began in December.Meanwhile, small and medium-sized property firms are trying to manage their business by delaying the launch of residential projects and conserving cash to support the business for the long term, at a time when more customers are deferring the transfer of homes and banks are restricting the provision of mortgages. Kessara Thanyalakpark, director of listed developer Sena Development, said the company had cut the number of new launches this year from 10 projects to just seven. “We also have to work closely with customers who have to transfer this year. This will help us to reduce the level of rejections of mortgage applications by the banks at a time when commercial banks are restricting loans due to rising household debt,” she said.For the full article click here.

Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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