Sena launching three more projects

"Our core business is developing residences for sale. That's our main income," director Kessara Thanyalakpark said yesterday. "However, our business policy is to balance our portfolio and long-term investment by developing projects that generate rental income, such as hotels, serviced apartments, golf clubs, community malls and office buildings."

The company has budgeted Bt1.2 billion for 2011-15 to develop a community shopping centre, a golf course and a hotel so that rental income will make up about 5 per cent of its revenue.

Two of the three residential projects |are condominiums and one is detached houses.

The first condo project, which debuts this week, is "The Niche Mono Bangna" worth Bt1.2 billion.

The second is to get underway in two months and will be worth Bt600 million. It will be in Rangsit.

The detached-housing project worth Bt2.4 billion will front Ram Inthra Road.

The Bt500-million shopping centre, Sena Fest, will open in the last quarter of next year on Sathorn-Thonburi Road. It will offer about 9,000 square metres of retail space for rent at Bt800-Bt2,000 per square metre per month.

The golf course and hotel are planned for development next year or the year after in Pattaya on a budget of Bt700 million.

The company targets revenues from residential projects to grow 20 per cent a year on average.

Sena earned Bt216 million on revenue |of Bt1.16 billion in the first half of this year.

The company expects revenue to reach Bt1.5 billion this year, up 10.3 per cent from Bt1.36 billion last year, Kessara said.