LPN Development boosts pre-sales target to Bt24-25 billion

Managing director Opas Sripayak said last week that the company enjoyed high pre-sales in the first seven months of this year worth Bt16 billion after launching six condominium projects worth nearly Bt10 billion in the first half.
 

They are located on Lat Praklow 2, Suksawas-Rama II, Udon Thani province, On Nut-Lat Krabang, Rama IX and Srinakarin Road.
 

The company also plans to launch six projects this second half year worth Bt15 billion. They are located in Rangsit, Sukhumvit Soi 24, Cha-Am, Hua Hin, Jomtien Second Road and On Nut Soi 46. They will boost its pre-sales over the estimate of Bt20 billion that was made early this year, he said.
 

However, the company has maintained its Bt15 billion revenue target for this year.
The company earned Bt360.05 million on revenue of Bt2.48 billion in the first quarter of this year.
 

“Although the country’s economy shows signs of growing slightly in the second half of this year compared with the first half, we still maintain our growth target after seeing strong demand for condos offering prices lower than Bt3 million per unit,” he said.
 

The main risk for property firms in the rest of this year is the labour shortage. Some residential projects cannot deliver units to customers on time.
 

“We manage our construction process by signing long-term contracts with our suppliers and contractors. That, combined with our construction process, [operates] like an industrial plant. This helps us deliver our residential projects to our customers on time,” he said.
 

The rejection rate for its customers seeking mortgages is lower than 10 per cent, which is normal for its customer base. This is still lower than the overall market’s 20 per cent.
 

“Most of our customers’ financial health is still strong enough to buy a property and get a home loan from a bank, so we believe that our total revenue will achieve the early target of Bt15 billion this year,” he added.