Infinite Real Estate aims for Bt1 bn revenue in 2012 from five new projects
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Infinite Real Estate Co Ltd plans to launch five new residential projects worth Bt2.55 billion in the new year as it targets revenue of Bt1 billion.
President Suraphon Korvorkul said during a group interview yesterday that one of the five projects would be a condominium complex for pets on Lat Phrao 101, three projects would be duplex projects, and the fifth would be a condominium project that it took over from another property developer.
Two of the three duplex projects will be in Bangkok’s Don Muang district, which was badly hit by this year’s flood. As a result, the company redesigned both projects, increasing landfill and adding flood-protection systems.
Suraphon said the company had revised its business policy to focus on three segments: residential, sports clubs, and retail businesses located on its residential-project sites.
“We started the concept at our Happy Condo on Ratchada Soi 18, which has condominiums and a sports club. Our condominium project on Lad Phrao Soi 101 will have a retail business,” he said.
At first, the company will include either sports clubs or retail businesses in its housing projects, depending on their locations.
Under this policy, the company targets rental income of between Bt5 million and Bt10 million a month within seven years.
Currently, more than 95 per cent of its revenue comes from residential sales, with rental income coming only from Happy Condo on Ratchada Soi 18.
The company expects this year’s revenue to come in at Bt390 million, up 54 per cent from Bt253 million last year.
Infinite Real Estate Co was established 25 years ago with registered capital of Bt30 million. The company develops residential projects under the Happy brand, focusing on units priced lower than Bt3 million.
