SC Asset to launch six new projects in H2
SC ASSET Corporation plans to develop six projects worth Bt14 billion during the rest of the year, with two new brands for detached houses and condominiums.
Nuttaphong Kunakornwong, chief executive officer, said the company had increased the number of projects for this year from 10 to 11, valued at more than Bt25 billion, by adding one condominium, bringing the total number of condo projects to three. The number of horizontal projects remains unchanged at eight.
In the first half of the year, it launched five projects worth a total of Bt11 billion, consisting of four detached-housing developments and one condominium.
“In the remaining months of this year, the company will develop six new projects with a combined value of Bt14 billion, consisting of four horizontal projects worth Bt5 billion and two condominiums worth more than Bt9 billion,” he said.
The four horizontal projects will be The Gentry Sukhumvit, a new brand of three-storey luxury houses on Sukhumvit 101 on 16 rai (2.56 hectares), worth Bt1.3 billion. The project consists of 57 units, starting at Bt20 million.
The second new brand is Headquarters, a five-storey residential project in the Ekkamai-Ramintra area worth Bt850 million and consisting of 29 units, starting at Bt28 million.
Nuttaphong said other new projects would be Grand Bangkok Boulevard Rama 9, Grand Bangkok Boulevard Ratchaphruek-Rama 5, and two new condominium projects. The 28 Chidlom, worth Bt8 billion, will offer 400 luxury condo units priced at an average of more than Bt300,000 per square metre, while the Bt800-million Chambers Cher Ramintra project will be priced at Bt68,000 per square metre.
He said SC Asset was confident of reaching this year’s revenue target of Bt15 billion.
Despite many uncertain situations, the company expects gross domestic product this year to grow by more than 3 per cent. Several economic indicators show positive signs, which should contribute to the real-estate business.
In addition to higher private investment, the housing debt index has improved. The growth of housing debt has decelerated to less than 5 per cent of GDP and the ratio of housing debt to GDP in the first quarter of this year was lower for the first time in three years, at 81 per cent.
He said people had more capacity to apply for housing loans, sending a positive signal to the real-estate sector.
In the first half of this year, SC Asset’s gross income already surpassed 50 per cent of the company’s 2016 target of Bt15 billion. Its annual gross income is expected to reach Bt20 billion by 2020.
