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Bangkok Property Developer, Property Perfect Plans to Invest Bt10 bn Annually

Bangkok Property DeveloperThe firm’s acquisition of Thai Property will be complete by mid-2015, which will give it a major stake in Grande Asset Hotels and Property by July 22, Property Perfect chief executive officer Chainid Adhyanasakul told a news conference yesterday. He said as much as Bt27 billion of its revenue in 2017 would be from residential sales, and Bt3 billion from hotel business in Thailand and Japan.

It plans to launch 24 new residential projects worth Bt29.5 billion this year, 20 of which will feature detached houses and townhouses worth Bt25 billion, three condominium projects worth Bt3 billion, and a villa in Nakhon Ratchasima’s Khao Yai area worth Bt1.5 billion.

He said the company was confident of achieving its revenue targets, especially through income from its residential projects, as it has a backlog worth Bt6 billion, half of which will be booked as revenue this year. It also targets presales of Bt18 billion this year, up to 80 per cent from low-rise homes, both detached houses and townhouses. “The country’s economy has shown signs of recovering, while interest rates may also be lower than last year. These are positive factors to boost demand for homes this year, especially in the middle to upper market, which still has more purchasing power than the lower-priced market, less than Bt2 million per unit,” Chainid said. He added that demand to buy homes costing less than Bt2 million had dropped as household debt rose. As a result, the company will focus this year on the middle-to-upper-income market, people who can afford homes costing more than Bt3 million. There is strong demand in this segment.

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