NC Housing ups presales target after good year to date
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NC Housing has raised its full-year presales target from Bt3.2 billion to Bt5 billion, having achieved Bt2 billion in just the first five months of the year.
The listed company’s managing director, Somchao Tanterdtham, yesterday said residential demand had recovered since last year, driving presales through to the end of May well above the estimate for the period.
Demand is good at NC Housing’s projects in both Bangkok and the provinces, especially for homes priced up to Bt5 million.
This has helped persuade the company to introduce two new residential projects worth Bt1.2 billion combined this month.
The first is a Bt500-million condominium project in Pattaya, the Natureza, with a starting price of Bt1.1 million per unit.
The second is a Bt700-million townhouse project, Baan Fa Piyarom, with homes costing from Bt1.45 million.
They form part of the developer’s five new projects set to be launched during the course of the year.
“We sold out our first condominium project in Pattaya when we introduced it in the final quarter of last year, as local demand for condominiums priced at no more than Bt2 million has continued to grow.
This is the reason for launching the second [Pattaya] project this month, with a target of selling all 406 units by the end of this year,” he said.
Provincial revenue
Meanwhile, the company has also seen strong demand for townhouses priced up to Bt2 million at Lum Luk Ka district in Pathum Thani province.
As a result, it has introduced its latest townhouse project in this location.
The project will generate revenue this year, while the latest Pattaya condo will generate income next year.
The company currently has a backlog worth Bt946 million, some Bt446 million of which will be booked as revenue this year, and the remainder next year.
NC Housing’s overall revenue target for this year is Bt1.8 billion, said the MD.
Somchao said the rest of the targeted revenue would come from existing and newly launched low-rise residential projects, comprising detached housing, twin-houses and townhouses.
NC Housing posted revenue of Bt372.42 million and a net profit of Bt15.28 million for the first quarter.
