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Bangkok House Developer Sena Takes Cautious Approach

By on Apr 20, 2016 in Property News, Residential

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The Bangkok House developer Sena Development Plc plans to launch 9 new residential projects in 2016. They will be worth in total 5.3 billion THB.

Deputy Chief Executive Kessara Thanyalakpark said the company will remain cautious and conservative as there are still risks from a slowing economy and oversupply in the housing market. ” We are ready to invest but need to be more cautious,” she said. “We plan to spend 1 billion THB this year with 800 million for land acquisitions to launch new housing projects next year and 200 million for the solar business.”

Over the next few years Sena aims to have 80% of income from housing development and 10% each from recurring-income properties and solar. In Q1 this year Sena recorded around 1 billion baht in presales. This was mainly secured in March as many homebuyers wanted to wait to learn more about the government’s low-cost housing scheme. To access the scheme, Sena has 5 projects with 1000 units worth 1.5 billion baht that will be ready to transfer within the year.

Source : Bangkok Post, 8th April 2016
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