Pruksa's new team aims for annual growth of 25%

Pruksa Real Estate’s restructured management team aims to focus on all market segments and maintain business growth of at least 25 per cent a year, chief executive officer Thongma Vijitpongpun said.

He said Lursuk Chuladesa, former director-general of Government Savings Bank, had been appointed as the company’s executive vice president and chief operating officer, effective on July 12. 

The new team of managing directors includes Prasert Taedullayasatit, in charge of condominium products; Piya Prayong for townhouses; Nimit Poonsawat for detached houses; Maytha Chanchamcharat for international business; and Wirasak Kaewnoo to handle new business focusing on small and medium-sized condo and townhouse projects. Lursuk is also managing director of supply-chain business. 

Under the new management structure, the company believes it will be able to become a leader of the property market in Thailand and in the top 10 in Asia. At present the company ranks 25th in the Asia market, Thongma said. 

One goal is to boost presales to Bt100 billion by 2017, he said.

This year, Pruksa has raised its presale target from Bt34 billion to Bt42 billion after the company reported presales of Bt22 billion in the first half. 

“We believe that the market will growth by at least 7 per cent this year,” Thongma said. 

Lursak said he would use his experience from the banking sector to keep business growth sustainable in the long term by focusing on the real sector rather than the speculator market.

“I also will use our experience in the banking sector to manage business risk for the long term and support our management team to drive growth in all market segments,” he said.