MK Real Estate plans launch of six projects

The firm targets presales of Bt4 billion and revenue of Bt3 billion this year, president and managing director Chuan Tangmatitham told a news conference yesterday.
He confirmed that the company was negotiating with potential strategic partners for joint development of residential projects, focusing on those with expertise in marketing and construction.
“We are negotiating with both foreign and local investors who are interested in joining us in business, but no deal has been made at this time,” he said.
He said the company’s investment budget would come from its internal cash flow and bank loans.
At present, the company’s existing projects have homes for sale worth Bt5.5 billion. When combined with this year’s new launches, MK will have projects valued at a total of Bt11.4 billion, which will generate income through 2017.
Four of this year’s six new projects will feature detached houses and townhouses worth a total of Bt3.16 billion, and the other two will be condominium projects worth Bt2.74 billion. All of them will be in metropolitan Bangkok.
“We have continued to concentrate on developing residential projects in Bangkok and its suburbs rather than expanding upcountry as the supply in the provinces now is exceeding the demand,” Chuan said.
The company targets revenue of Bt3 billion this year, thanks to the market recovering from last year’s slump.
In the first nine months of last year, MK Real Estate Development recorded revenue of Bt1.63 billion and net profit of Bt278.7 million.