Nirvana plans projects worth Bt1.8 bn
Nirvana Development Co Ltd is launching three new residential projects worth a total of Bt1.8 billion in the second half in a move to achieve total revenue of Bt2.5 billion by the end of this year.
If the target is met, it will mark a 40-per-cent growth from the firm’s total revenue of Bt1.8 billion last year.
Nirvana Development also plans to be listed in the Stock Exchange of Thailand by mid next year and aims to achieve Bt3 billion by the end of 2014, CEO Sorasak Somwattana said.
The firm has appointed Trinity Securities Co Ltd as a financial adviser help it enter the SET, he said.
“We believe we will be able to achieve this year’s and next year’s targets since the company has already had Bt1.2 billion in presale in the first half of this year,” Sorasak explained.
Nirvana’s three new projects include 70 units of single-detached homes under the brand Beyond Suan Luang with per-unit prices ranging from Bt12 million and Bt25 million. This project is worth a total of Bt800 million. The next project is townhomes under the brand Cluster Onnut 65, with units starting at Bt2.1 million. This Bt600 million project offers a total of 140 units. The last project, Beyond Pattaya, offers pool villas at prices ranging from Bt16 million to Bt20 million. This project is worth Bt400 million.
Meanwhile, Nirvana Development has signed a 50-year lease for a plot of land, close to its residential project on Rama 9, to construct a commercial building in the near future.
“When combined, the three new projects and our nine existing ones will help us achieve our target growth this year and next,” he said.
