Property Perfect goes for Bt16 bn in 2012 presales

The company achieved presales of Bt11.26 billion over the first nine months, Bt5.59 billion from detached housing and townhouse projects and the remainder from condominium projects.
Wongsakorn Prasitvipat, deputy chief business development officer, yesterday said that three of the new projects would be located on Rangsit-Pathum Thani Road in an area the company calls Lake Resort Rangsit.
The area covers 239 rai (38 hectares), of which a lake will take up about 100 rai and the bulk of the remainder will comprise three housing projects: Perfect Masterpiece, to be built on 22 rai and containing 33 units worth Bt530 million; Perfect Place, to be constructed on 30 rai, with 114 units worth Bt520 million; and Perfect Park, which will comprise 165 units worth Bt580 million, on 37 rai.
The remaining 49 rai will be developed as the second phase of Perfect Place next year, he said.
The other projects set for launch this year will be on Sukhumvit 77 under the Perfect Masterpiece |banner. They are together worth Bt1 billion.
“We have started to launch detached-housing projects this quarter because customers who delayed their decisions to buy such homes [because of last year’s severe flooding] will start to make purchasing decisions if they are confident the floods will not strike again this year,” said the executive.
Although Rangsit was badly hit by the 2011 floods, demand for homes in the area has grown now that home-buyers accept that what happened last year was an exceptional occurrence, he added.
Moreover, the government has decided to reopen Don Meuang Airport as a base for low-cost airlines and the Central Group plans to develop a shopping centre and mixed-used project on 616 rai in Rangsit. These two factors should help drive demand in Rangsit over the next five years.

RANGSIT
“We believe Rangsit will return to be the destination for housing again, now things have stabilised since the main airport moved from Don Mueang to Suvarnabhumi,” Wong-sakorn said.
Property Perfect targets presales at least Bt500 million from the three new projects at Lake Resort Rangsit during this quarter, which will contribute to its target of Bt5 billion for the period.
Overall revenue is expected to come in at Bt12 billion for the full year.
The company reported revenue of Bt4.35 billion and net profit of Bt186.4 million for the first half.