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Thailand Property Development – The Financial Growth leads Developers look to Launch New Projects

By on Aug 16, 2013 in Property News

Listed property developers reported strong revenue growth and profits in the first half, and will continue to launch new projects in the second half as planned despite the economic slowdown.

Property Firn Thailand

Among nine developers that reported their financial results, Land and Houses Plc (LH) posted the highest net profit of 3.07 billion baht in the first half and 1.65 billion in the second quarter, while Pruksa Real Estate (PS) reported 2.18 billion and 1.4 billion, respectively.

Rutt Phanijphand, the president and chief executive of Quality Houses (QH), said there are three concerns for the housing market the rest of the year – politics, the global and Thai economies and home loans.

QH plans to launch 11 new projects worth a combined 6.43 billion baht in the second half and at least 15 projects worth 13.9 billion next year.

SC Asset Corporation Plc reported a first-half net profit of 509 million baht yesterday on revenue of 4.43 billion baht, up 60%. It aims to have 10 billion baht in revenue by year-end.

AP (Thailand) Plc reported a net profit of 452 million baht on revenue of 4.28 billion in the second quarter, of which 40% came from condos and 60% from low-rise units.

For the full article, please visit Bangkok Post

Source | Bangkok Post 15 August 2013

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