Major Development, Prinsiri plan
Hopes for an improving economy and more purchasing power, Major Development and Prinsiri plan to launch several residential projects this year.
Major Development executive director Petrada Poolvoralaks said the company planned to continue its focus on condominium projects in Bangkok inner-city areas. The demand for high-end condos has prompted the company to launch five new projects worth a total of Bt22.2 billion, comprising three low-rise condo projects worth Bt2.2 billion and two high-rise projects worth about Bt10 billion each.
Last year, Major Development earned Bt6.19 billion in revenue, up by 45 per cent over 2013. The improved economy in the second half of 2014 and sales of Bt5.7 billion resulted in a net profit of Bt663 million.
The overall sales-revenue target for this year is about Bt8 billion.
Meanwhile, Prinsiri senior managing director Chairat Kovitjindachai said his company planned to launch five projects worth more than Bt5 billion, comprising detached houses valued at Bt1 billion, townhouses worth Bt2.7 billion and condominiums valued at Bt1.3 billion. For this year, Prinsiri targets revenue of about Bt3 billion, an increase of 25 per cent, and its sales target is about Bt3 billion.
In the second and third quarters, Prinsiri plans to launch two detached-home and townhouses projects – City Sense in the Salaya area worth Bt1.1 billion and another Bt1-billion project in Salaya. In the fourth quarter, it plans to launch City Sense in Tha Kam worth Bt1 billion.
Prinsiri expects better sales this year because of the improving economy and consumers’ confidence in their purchasing power. In addition, the outlook for lower interest rates should help consumers decide to buy, Chairat said.
Prinsiri has allocated Bt1 billion for investment this year, mainly for buying land for future projects.
