"After the Bangkok blasts, customers who visited our projects dropped by about 30 per cent compared with the same period last year," he said. "This is a sign that our home-buyers are concerned about their security. However, we must wait and see for another two or three months before making the decision to review our plan, but for now we still intend to maintain our target."

After introducing a new condominium project yesterday - The Address Chidlom - Anuphong said the company's presales since last year would book as revenues this year, recording up to Bt3.5 billion.

Meanwhile, the company is ready to sell projects worth up to Bt8.8 billion this year and next, which the company believes will help its sales meet a growth target of 20 per cent, or Bt7 billion, at the end of this year, despite the drop in home-buyers' confidence.

Anuphong said the company was continuing to spend up to Bt2 billion to buy land for development next year, focusing on plots near mass-transit routes and link roads.

At present, the company has 22 existing projects and plans to launch four new projects worth Bt4.5 billion this year. The Address Chidlom is its newest one, launched yesterday. This project will focus on the middle to upper market by offering units priced at Bt4 million to Bt17 million each.

The Address Chidlom will have 597 units, with 200 booked after presales two week ago. The company will have a grand opening for booking from January 20-21 at the site on Chidlom Road.

Anuphong said that following The Address Chidlom, the company would launch other projects in the second quarter, on Lat Phrao, Krungthep-Kreetha and Ramkhamhaeng roads.

He said the four new projects would generate revenues for the company next year.

Asian Property Development announced total revenues of Bt5.06 billion and a net profit of Bt1.1 billion in the first nine months of last year.

Somluck Srimalee

The Nation