LPN plans 3 more condos this year

“Our business policy is to de-velop an average of 10 residential projects a year, depending on the country’s economy,” managing director Opas Sripayak said yesterday.
The Bt4-billion Lumpini Park Beach Jomtien project started taking bookings last week and has recorded presales of Bt400 million.
The next two projects worth Bt1 billion each are scheduled for November and December.
LPN achieved presales of Bt9 billion in the first nine months. It is targeting revenue of Bt12 billion for this year after transferring residences to its customers worth Bt11 billion in the first nine months.
After the Cabinet approved a stimulus package for first homes, signs are better for this quarter than last quarter, although some buyers facing floods at their homes upcountry will still delay their purchase decision.
“Some home-buyers have to use the money to help their families recover from the flooding,” he said.
However, he believes that demand for residences will return full-scale in November and December when the flood problem is solved.
The company has a backlog worth Bt14 billion. Nearly half or Bt6 billion is units priced lower than Bt1 million. They are eligible to benefit from the stimulus package offering a zero interest rate for the first three years of a mortgage.
The company also has about 350 units worth Bt400 million in its inventory that are ready to move into. They will appeal to first-time customers taking advantage of the stimulus package, Opas said.