Sammakorn to launch Bt2.3-bn projects targeting middle, upper-income markets
LISTED property firm Sammakorn Plc plans to launch three residential projects worth Bt2.3 billion to drive presales and revenue to double-digit growth this year, the company’s managing director Kittipol Pramoj na Ayudhya said.
“The three new projects will focus on the middle and upper-income market, where the demand in this market segment is still growing as the commercial banks have continued to provide mortgage loans to them,” Kittipol said at press conference.
He added that in 2016, the company had revenue of Bt1.24 billion, down 17.33 per cent in its revenue of Bt1.5 billion in 2015.
The 2016 figure was lower than the company anticipated. It blamed the shortfall on demand to buy residential properties dropping and commercial banks approving less mortgage loans.
The company has confidence the property market this year will be stable. But it said commercial banks continued to reject mortgage loans if customers do not have earnings to match banks’ standards.
Following the market trend, Kittipol said that Sammakorn would focus on the middle and upper-income market by launching three new residential projects by focus, with the townhouses costing Bt2 million to Bt4 million.
The projects are Sammakorn Avenue Suvanabhum, Chaiyapruk-Ring Road, and Office Park at Ramindra-Ring Road. They will be launched to the market in the last quarter of this year.
