Supalai, Lalin buoyed by outlook for this year
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LISTED property firms Supalai Plc and Lalin Property Plc have announced plans to launch new residential projects worth a combined Bt40.57 billion this year, while they have a combined annual investment budget of Bt8.9 billion to buy undeveloped land.
Supalai has Bt36.57 billion set aside for 35 project launches this year and it has allocated Bt8 billion to buy undeveloped land.
Lalin Property plans to launch eight projects, valued totaling Bt4 billion, and has set aside Bt900 million to buy undeveloped land.
They are confident the property market this year will grow between 5-10 per cent.
“We are confident Thailand’s economy will recover this year thanks to the government’s investment in infrastructure projects and also the measures [it launched] to support the property market from the last quarter of last year till April this year,” Supalai chief executive Prathep Tangmatithum said at press conference yesterday.
He added that the Asean Economic Community’s full implementation at the start of the year would also drive demand for residential projects, with projected strong growth in Bangkok and the provinces.
The company has targeted total presales of Bt24.5 billion and total revenue of Bt22 billion this year, up 6.24 per cent and 5 per cent respectively from last year. The presales and revenue targets are from the company’s existing projects and the 35 new projects earmarked for launch this year.
Of the upcoming projects, 25 are condominiums and the rest are single detached homes and townhouses.
Supalai deputy managing director Tritecha Tangmatithum said the company had a backlog of properties ready for sale and waiting to be transferred to customers that was worth Bt37.81 billion. The backlog is expected to be booked to total revenue between this year and the end of 2018.
Supalai reported total revenue of Bt14.98 billion and a net profit of Bt2.89 billion in the first nine months of last year, while it has targeted total revenue of Bt22 billion this year.
Lalin Property chief executive Chaiyan Chakarakul said the company had targeted total presales worth Bt2.8 billion and total revenue of Bt2.4 billion, up 15 per cent from last year’s presales figure.
The company’s presales and revenue will come from existing residential projects and the eight new projects set to be launch this year worth Bt4 billion, with 70 per cent of its new residential projects to be located in Bangkok and its suburbs and the rest in the provinces.
Lalin Property announced total revenue of Bt1.3 billion and a net profit of Bt192.68 million in the first nine months of last year.
“We believe that the government’s investment in infrastructure projects, worth up to Bt2.7 trillion, will drive demand to buy residential [properties] this year and next year. As a result, we have targeted our presales and revenue having strong growth this year,” he said.
He added that the company planned to issue debentures worth Bt1 billion this year to create cash flow and funds to buy the Bt900 million worth of undeveloped land.
