Pornsanti planning ownhouse projects
Pornsanti Co, a subsidiary of LPN Development Plc, will invest Bt1.5 billion to develop five townhouses projects worth Bt2 billion this year.
"Townhouses is the new market segment for our customers who need to buy a townhouse when their family gets bigger. They make up 40 per cent of our existing customers who own LPN Development’s condominiums," managing director Charan Kesorn said last week.
The company targets boosting its presales by 50 per cent to Bt1.5 billion and revenue by 100 per cent to Bt1.2 billion this year.
The five new projects will be located on Suksawas and Theparak roads in Samut Prakan, Pakkred and Bang Klow-Sai Noi in Nonthaburi and Ramindra Road in Bangkok.
The projects offer units priced from Bt3 million-Bt5 million.
Pornsanti expanded into townhouses in 2013 and now has six projects worth Bt2 billion. Three worth Bt1 billion have already sold out and the remaining three are in the selling process.
"We believe all of them will be sold out this year," he said.
The company plans to launch on average five townhouse projects worth about Bt2 billion each year, as market demand is still stronger than for single family homes.
Opas Sripayak, managing director of LPN Development, said Pornsanti is one of its ways to expand its product line from condos to townhouses and retail businesses.
This will help balance its business portfolio during a time when the condo market faces stiff competition.
