By The Nation
“The reasons for this, apart from the company’s excellent performance, are the accelerated expansion of land sales and earnings from our investment fund,” he said.
Property Perfect estimates revenue of Bt6 billion from horizontal projects, Bt6 billion from condominiums including Bt1.9 billion from its Yu Kiroro project in Japan, Bt1 billion from land sales and investments, and Bt2 billion from its hotel business and other sources.
The company’s backlog sales were worth Bt4.8 billion at the end of the second quarter.
All these factors enabled it to reduce debt rapidly.
“We plan to reduce our debt by Bt5 billion by early next year,” said Sirirat. “This will also help increase our credit rating and reduce interest paid on existing and future debentures.”
Towards the year’s end, Property Perfect will announce new high-end projects including detached homes, luxury modular manors and the Lake Legend Chaengwattana project, its first joint venture with a Hong Kong partner.