Supalai plans Bt30-billion projects in 2015
LEADING developer Supalai has set an investment budget of less than Bt5 billion to buy land next year, which is on par with this year. It has already spent Bt3 billion of this year's Bt5-billion budget to buy vacant land to develop into residential proje
The company targets revenue of Bt20 billion for this whole year after recording revenue of Bt5.8 billion and net profit of Bt1.27 billion in the first half, Tritecha Tangmatitham, deputy managing director, said yesterday.
Although first-half revenue was less than expected, the company has a Bt40.2-billion backlog, of which Bt12 billion will be booked as revenue next quarter and the rest from 2015-16.
The company plans to kick off 11 residential projects worth Bt13 billion next quarter, of which seven will be low-rises, namely detached homes, duplexes and townhouses, and four will be condominiums.
“We saw residential demand start to recover in June when the country’s political stability returned, so we believe that our revenue and presales will achieve the target for this year,” he said.
The company is shooting for Bt22 billion worth of presales this year after logging Bt13 billion in the first eight months.
The overall property market |is expected to drop 5-10 per cent this year because residential launches were lower than last |year, while commercial banks |have restricted loans to small and medium-sized property firms.
Next year the property market should show strong growth under the government’s policy to expand investment in infrastructure, which will boost demand for homes located close to mass-transit systems.
Yesterday the company introduced its latest Bt2-billion condo project, Supalai Elite Phayathai, combining 258 units starting at Bt4.4 million.
The project will open for booking this weekend. The company targets Bt1.9 billion in presales from the two-day event.
The developer is now applying for EIA (environment impact assessment) approval for the project, with construction expected to commence next year and be completed in 2017.
This is one of 16 Supalai residential projects entering the market in the first nine months of this year.
The last 11 will be marketed in the last three months, Tritecha said.
Supalai plans to launch 27 residential projects worth Bt30 billion this year.
