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Houses for Sale in Bangkok – Quality Houses Ups Budget for Land Purchase

Quality Houses has increased its land-acquisition budget from Bt4 billion ti Bt7.5 billion this year to maintain growth until next year, Rutt Phanijphand, President and Chief Executive officer, said yesterday.  The company is staying with its 2014 targets of Bt19.4 billion in revenue and Bt21.4 billion in presales despite the economic slowdown and estimated drop of 10 per cent in the property market.

Two projects worth Bt1.3 billion were launched last quarter. The remaining 23 projects worth Bt2.1 billion will be rolled out over the rest of the year, with six this quarter, 12 next quarter and five in the final quarter. More than half of its capex budget will come from internal cash flow and the rest from debentures worth Bt4 billion to Bt5 billion to be issued in the second half. This follows the issuance of debentures worth Bt2 billion with a coupon rate of 3.85 per cent last quarter.

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