After initial success, Min Buri Cement plans 5 more home projects

Last year Capital G Development Co was set up with registered capital of Bt20 million to develop two residential projects worth Bt500 million in Bangkok and Pattaya. They are already 90 per cent sold out. With the initial success of the first two projects last year, the company set aside Bt500 million to develop the next five. The first two worth Bt800 million are called Avenue Venice at Bang Na and Avenue Valley at Rangsit.

They are eight-storey condominiums focusing on students of Assumption University’s Bang Na campus and Rangsit University, managing director Chairat Piroonhapat said yesterday. 

Buyers of units in either project will be offered guaranteed rental income of at least Bt5,500 a month for 10 years. 

Since both projects are located close to a university, they will be in demand by students for housing, he said. 

“We will manage the rentals for customers. That will be our strategy to boost our sales in the both projects.” 

The last three projects will be condos and detached houses in Bangkok and Pattaya. They will be introduced to the market in the second half of the year.

Min Buri Cement’s targets for this year are presales of Bt1 billion, revenue of Bt300 million and a net profit margin of at least 15 per cent, Chairat said.