Krungthep Land plans to list on SET to fund luxury projects
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Krungthep Land is raising capital on the equity market to fund development of luxury residential projects next year.
“We have applied to the Securities and Exchange Commission. It will take about two or three months before issuing new shares and listing on the Stock Exchange of Thailand,” Chawintorn Kunakornporamut, deputy director for business development, said yesterday.
It will continue to focus on luxury residences priced over Bt10 million, both condominiums and detached houses.
“The luxury residential market has purchasing power and did not suffer a negative impact from the country’s economic slowdown. This market also shows strong demand all the time, while it has fewer competitors,” he said.
The company has introduced its latest detached-housing project, the Grand Udomsuk, worth Bt1.8 billion.
It has said it targets Bt5 billion in revenue this year after logging Bt1.84 billion in revenue and Bt259 million in net profit in the first half.
