Thailand's leading real estate agent

Pruksa Real Estate aims to cash in on recovery in demand for residences

By on Feb 11, 2015 in Property News, Residential

Leading Thailand property firm, Pruksa Real Estate, plans to launch 70 to 75 new residential projects worth between Bt55 billion and Bt61 billion in 2015. This is due to the the recovery in demand from 2015.

This will boost its total presales to Bt47 billion this year, up 20.2 per cent year on year. The company also targets total revenue of Bt47 billion, up 11.9 per cent year on year, thanks to the company’s total backlog worth Bt34.22 billion, which will be booked as total revenue until 2017, company president and chief executive officer Thongma Vijitpongpun said at press conference yesterday. The company has also set aside an investment budget of Bt8 billion to Bt10 billion to buy undeveloped land for developing residences this year. The budget will come from the company’s cash and project loans from banks, he said.

“We believe the property market will grow up to 10 per cent this year compared to last year, which recorded a drop of about 10 per cent,” Thongma said.

In the first nine months of last year, Pruksa Real Estate Plc recorded total revenue of Bt30.54 billion and net profit of Bt4.77 billion. The company transferred residences worth Bt43 billion to its customers in 2014.

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