NC Housing to boost presales with 6 new projects

This will take the company’s total revenue to Bt1.7 billion this year, managing director Somchao Tanterdtam told a news conference yesterday. 

The company has budgeted Bt200 million to buy land to develop residential projects next year. 

Four of this year’s launches will be low-rise projects including detached houses, duplexes and townhouses, and the other two will be condominiums. Two of the six will be in Chon Buri province. This is part of its business strategy to diversify its location from northern Bangkok to other locations that have low risk from floods, he said. 

In its drive for average growth of 20 per cent a year through 2015, the company has modernised its logo to reflect its business strategy to become a property developer serving younger generations, he said.

Although the property market in the final quarter of last year dropped because of the flood disaster, he said NC Housing managed presales worth Bt2.54 billion for the year, resulting in total revenue of Bt1.4 billion. 

“Twenty per cent of our customers delayed their decisions to take delivery and cancelled the deals after the flood hit the Rangsit area. But now some of them have returned to renew the contracts when they saw our projects survived because we have a protection system and built above the level of the flood,” he said. 

Meanwhile, the demand for homes has returned, and NC Housing recorded presales worth Bt300 million for the first two months of the year. This was attributed to the positive feedback from its three new projects launched since the start of the year, of the six new projects planned for 2012. The three are NC Royal Pinklao, Nesto in North Pattaya, and Baan Fa Piyarom Rangsit. 

“We believe that our presales and total revenue will achieve the targets, as the company has projects ready for sale and plans deliveries to our customers worth Bt500 million. We also have inventory worth Bt700 million ready to transfer to customers this year,” Somchao said. 

He added that although the property market this year would face a difficult period after the flood, it has a channel to expand its business by finding locations that have customer demand and are far from flood-prone areas, including tourist destinations such as Pattaya, Chon Buri and Chiang Mai.

“We are interested in expanding our investment in tourist destinations because we see strong demand from both domestic and foreign investors in such locations, especially when the Asean Economic Community becomes effective in 2015,” he said.