NL Asset pursues Bt300m revenue from 2 city projects
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NL Asset Co plans to develop two residential projects in Bangkok worth Bt1.4 billion to drive revenue to Bt300 million this year.
The Log3 on Sukhumvit Soi 101/1 worth Bt700 million entered the market last month, while a townhouse project on Soi Onnut worth Bt700 million will be launched in the last quarter.
“We decided to come out with our new residential project on Sukhumvit when we saw strong demand, especially for units priced at not more than Bt2 million,” managing director Prapaiwan Limsong told a news conference yesterday.
The company’s strategy is to market one or two residential projects a year. They could be either low-rise, such as detached houses, townhouses or duplexes, or high-rise.
The company has vacant land on Rama IX Road that could be used for a residential project next year.
NL Asset was established in 1989 with registered capital of Bt100 million to develop both serviced apartment and residential projects under various names such as Baan Sathorn Soi 9 and NL Residence.
The last development was the Time Home townhouse project on Rama IX worth Bt250 million. Introduced last year, it is now 30 per cent sold out by value.
The target for Bt300-million revenue this year is near last year’s level.
