Nusasiri goes upcountry for home projects this year

The investment budget will come from the company’s |internal cash flow and project loans from commercial banks, he said.
Visanu said the four new projects would be in the provinces. Two of them, Nusa Sriracha and Nusa Sriracha Onsen, worth Bt8 billion and Bt5.7 billion respectively, will be in Sri Racha district, Chon Buri province. The other two will be Nusa Pattaya, worth Bt8.5 billion, and Nusa Raya Phuket worth Bt800 million.
“We are investing in the provinces after seeing strong demand for homes in tourist |destinations from both Thai and foreign buyers,” he said, |noting that the latter demand would be fuelled by foreigners setting up regional head offices in Thailand.
Nusasiri targets presales worth Bt3 billion this year from its four new projects. That will boost revenue to Bt2 billion, up 57 per cent from last year’s Bt1.27 billion.
 Visanu added that the company was confident that the property market this year would recover thanks to the Asean Economic Community becoming fully effective in December. It will boost the demand for homes in Thailand as the country becomes a hub for foreign investors in the AEC.
Meanwhile, domestic demand is also on the increase as the government has a policy to develop the country’s infrastructure, such as the rail and road systems.
This will fuel demand for homes in the provinces, especially tourist destinations, he said.