Restructured Golden Land Property plans ten low-rise housing projects next year
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Golden Land Property Development, a subsidiary of Univentures - part of the Sirivadhanabhakdi family's business empire - plans to launch 10 low-rise residential projects worth Bt10 billion combined next year.
Golden Land president Thanapol Sirithanachai yesterday said the listed company had restructured its business following the takeover by Univentures early this year.
Managing director Saenpin Sukhee, who was appointed this year, is now responsible for handling low-rise residential projects.
The company’s revised structure is focused on two businesses: residential projects such as detached housing and townhouses, sales of which are expected to generate up to 70 per cent of revenue next year; and commercial property development such as office buildings, hotels and serviced apartments, which will account for the remainder.
In line with the focus on developing housing for sale, the company will launch three new brands – Golden Village, Golden Town and Golden Avenue – to incorporate the 10 projects planned for next year.
The projects will be located in central Bangkok and peripheral areas. The areas to be covered include Bang Na, Wacharapol, Rama II, Sukhumvit, Pinklao, Rattanathibet, Suksawas, Kaset Nawamin and Chaeng Wattana Road.
Saenpin said the company targeted boosting its overall annual revenue to Bt10 billion by 2018, based on at least 34 residential projects being launched over the period.
Golden Land set a 2013 revenue target of Bt600 million at the beginning of the year. It posted revenue of Bt759.99 million and a net loss of Bt153.06 million for the first half.
