DT Group aims for Bt200m from China

The DT Group of Companies, the property arm of CP Group, is targeting revenue of Bt200 million this year from its property-management business in China, which it set up in 2003.
Wadee Kripanan, general manager of the company’s subsidiary D Plans (Shanghai) Consulting Co, said it was managing or consulting for five large properties worth Bt100 billion this year and would increase that number to eight or 10 next year. She said the increase would grow its business by 50-100 per cent next year.
Revenue this year is expected to reach Bt200 million, double last year’s figure.
Up to 70 per cent of its customers came from CP Group, which expanded its investment in China, and the rest from Chinese property developers.
“We plan to develop mixed-use projects that combine residential, office and retail in the next three to five years after China opens up for foreign investors to expand there,” she said.
If China relaxes the rules on foreign-investment expansion in the property sector, the company plans to invest between Bt1 billion and Bt1.5 billion for its first property project there, Wadee said.
She added that demand for homes in China was growing strongly, especially in Shanghai, with prices in that city rising by an average of 20-30 per cent a year.
Meanwhile in Thailand, DT Group’s subsidiary Magnolia Quality Development Corporation plans to launch three new residential projects next year worth more than Bt6 billion, managing director Visit Malaisirirat said. The first will be Magnolia Rajdamri Boulevard, a mixed-use project comprising a hotel, residences, a plaza, and offices worth Bt5 billion.
The next two projects will be detached houses and a hotel in Khao Yai, Nakhon Ratchasima.
“We believe that demand to buy vacation homes in Khao Yai has strong growth after we launched our first project this year, which has sold eight of its 18 units worth more than Bt100 million,” he said.
The company also targets revenue of at least Bt100 million this year from its Whizdom condominium project, which will transfer part of its first building to customers this year.
Currently, Magnolia Quality Development is developing two projects, including Whizdom, which is worth Bt1.3 billion and has seen sales of Bt600 million. The other project is the detached-house project in Khao Yai mentioned above, with 18 units worth Bt200 million.