Siamese Asset targets 20% annual growth
Siamese Asset Co plans to invest between Bt2 billion and Bt5 billion a year through 2017 to grow its revenue by an average 20 per cent annually, reaching Bt5 billion in 2017.
The company’s new managing director Wirote Kappiyajanya, who was appointed on April 16, told a news conference yesterday that the company targeted 20-per-cent annual growth in both presales and revenue.
The company plans to launch four or five new residential projects worth up to Bt10 billion a year. Up to Bt2 billion of its 2015-17 investment budget will be spent on land purchases and the rest on construction.
Up to 30 per cent of the budget will come from the company’s internal cash flow and the rest from bank loans. This year, Siamese Asset plans to launch five residential projects worth Bt10 billion. Four will be condominiums, and one is a detached-housing project, Wirote said.
He said the company would continue to target buyers in the middle and upper markets by offering condos ranging in price between Bt100,000 and Bt160,000 per square metre.
Wirote has years of experience in the property business. He was part of the executive management of Sansiri and Pruska Real Estate before deciding to join Siamese Asset.
Siamese Asset Co began developing residential projects in 2010 with condominiums under the Siamese brand.
The company targets revenue and presales of Bt1 billion this year, Wirote said.
