Thu, January 20, 2022

property

Stimulus measures to give developers a year-end boom


The top 10 listed residential developers are shooting for presales of Bt88 billion in this last quarter of the year thanks to the government's stimulus package.

 

"We’re trying to meet our Bt23 billion presales target for this year even though we see the market growing slightly in the last quarter of this year.

"However, after the Cabinet approved the stimulus package to boost the property market from now till the end of April, this challenges us to boost our presales and achieve our revenue target," Tritecha Thanmatithum, deputy managing director of Supalai Plc, said.

Supalai’s Bt14 billion presales in the first nine months fell short of its goal of Bt15 billion, so it thought it might end the year with presales of only Bt21 billion.

However, the company now hopes the government’s latest property stimulus measures will help drive its presales to achieve its target of Bt9 billion for this quarter and Bt23 billion for the whole year.

Property Perfect has cut its targets for this year’s presales and revenue to Bt14 billion and Bt12.5 billion from the early estimate of Bt15 billion after real-estate demand in the first nine months was lower than expected, said Wongsakorn Prasitvipat, chief business development officer.

"We hope the stimulus package for the property sector will boost our presales and revenue in the final quarter to achieve the new target," he said.

The company has inventory worth Bt10 billion of homes that are already completed or under construction and will be completed in six months. The stimulus package, which becomes effective on October 19, will help move those homes.

The company targets Bt6 billion presales this quarter after recording Bt8 billion presales in the first three quarters, he said.

Sansiri and its joint venture with BTS Holdings Group, BTS Sansiri Holding, targets Bt12.6 billion presales this quarter after logging Bt20.5 billion presales in the first three quarters, said Uthai Uthaisangsuk, senior executive vice president of business development and high-rise project development.

"Half of the total presales target in the last quarter of this year is from Sansiri and half from the JV," he said.

The company has launched 10 residential projects worth Bt21.5 billion and also its latest promotion, "Now or Never", offers a discount price 0.99 per cent on top of residential price to cash in on the government’s measures to boost the property market. The campaign runs from until November.

Lersak Chuladesa, chief operating officer of Pruksa Real Estate, said the company succeeded in pre-selling Bt31 billion-worth of units in the first eight months, which was near its projection.

The company is confident that its presales will achieve the Bt47 billion target for this year thanks to the government’s incentives.

The company’s latest marketing campaign, "Pruksa Best Buy Moment", offers special discounts 2 per cent to boost sales in rest of the year.

"We believe our presales and total revenue will achieve our targets for this year," he said.

AP (Thailand) targets Bt28.3 billion presales this year after logging Bt23 billion presales in the first nine months, said Vitakarn Chanvimol, chief marketing officer.

"Not only will the government’s measures boost our presales and revenue in the last quarter of this year, but also our marketing campaign will increase our sales," he said.

From October 10-18, the company sold 256 units worth Bt880 million from its "Final Call" campaign. It will hold a two-day promotion called "Pack Your Bag" for its condominium projects on the last weekend of this month, offering free furniture and free transfer and mortgage fees.

Published : October 29, 2015

By : Somluck Srimalee The Nation