Listed firms to launch over 100 projects in second half in bid to boost presales
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Listed property firms plan to launch residential projects worth more than Bt120 billion combined over the remainder of the year, as they bid to boost presales during a period in which the market is showing signs of only slight growth.
Pruksa Real Estate will launch at least 46 projects worth Bt30 billion during the second half of the year, having already launched 32 projects worth Bt25 billion over the first six months.
Land & Houses plans 15 residential projects worth about Bt24.2 billion in the second half, following nine projects valued at about Bt19.1 billion in the first part of the year.
Sansiri, meanwhile, will launch 23 projects worth Bt26 billion over the remainder of the year, 14 of them condominium projects worth Bt19 billion, with the other nine projects worth Bt7 billion being detached housing and townhouses.
The programme forms part of the developer’s business plan for 45 new residential projects worth Bt61 billion over the full year.
LPN Development will launch seven projects worth Bt15 billion in the second half, while SC Asset Corp plans eight projects worth Bt10 billion. The latter launched five residential projects worth Bt10 billion in the first half of the year.
AP (Thailand) will launch another 16 projects worth Bt14.77 billion by year-end as the second part of a plan to launch 25 projects worth Bt29.76 billion in total over the course of the year.
Prasert Taedullayasatit, chief business officer of Pruksa Real Estate, said the company may increase its full-year presales target from Bt35 billion to between Bt38 billion and Bt40 billion, thanks to first-half presales coming in above target.
AP (Thailand) chief marketing officer Vittakarn Chantavimol said the company would be aggressively marketing its new projects over the rest of the year, when he expects the market to be intensely competitive.
“We have to launch residential projects to cover all market segments and in locations to match demand,” he said.
Vittakarn said the property market during the second half would be fiercely competitive due to the slowing economy and limited purchasing power, even though all developers have high presale and revenue targets.
Most firms will, therefore, launch marketing campaigns to boost their sales in the second half, which is the usual high season for the market.
