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Land & House Earmarks B12bn to Buy Plots

By on Jan 28, 2015 in Property News

074-land-houseLAND & HOUSES has budgeted Bt12 billion to buy undeveloped land this year and to acquire apartments and retail outlets in the United States and Thailand.

President Adisorn Thananan-narapool said the company would continue investing in rental apartments in San Francisco Bay as the occupancy rate at the two apartments it invested in two years ago was as high as 95%.

It is developing a hotel with 440 rooms in the Thong Lor area, where it invested 2.1 billion baht.

In 2015, LH plans to launch a total of 17 new residential projects worth a combined 37 billion baht, compared with 21 projects worth 41.3 billion baht launched last year. They will include a dozen single house projects, two townhouse projects and three condo projects.

Mr Adisorn said the property market’s outlook would be clearer from February, with an estimated growth lower than 10% by the end of 2015. “Most of our projects will be launched in the fourth quarter as the property market will improve in the second half, as boosting the sluggish economy will take time,” he added.

LH had a total sales backlog of 20 billion baht at the end of 2014. Around 5 billion baht will be realised this year, while 10 billion will be booked in 2016, all from condo units.

LH shares closed yesterday on the SET at 9.15 baht, up 10 satang, in trade worth 221 million baht.

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