Chuan Tangmatitham predicts a good year for home sales.

Its revenues at the end of the year were Bt1.85 billion, down from the Bt2 billion expected. However, the company believes the economy should show signs of recovery in the second half of this year as oil prices and interest rates have fallen from last year's levels.

As a result, the company expects its sales will grow 20 per cent, or Bt2.3 billion, by the end of this year, president Chuan Tangmatitham said.

He added that demand for housing had continued to grow this year as most home-buyers delayed their decision to buy new houses after the political uncertainty in the last quarter of last year. The company believes that, with an election held in the last quarter this year, home-buyers will make decisions to buy new houses.

Following the market trend, MK Real Estate believes its sales will meet its target of Bt2.3 billion.

To achieve its sales target, the company plans to open three new property projects worth Bt1.6 billion this year. They are Residence Park 5 in the Ram-Indra area, Chuan Chuen Udomsuk and Chuan Chuen Pracha-uthit.

It now has 15 projects worth up to Bt15 billion in several locations in Bangkok and neighbouring provinces.

Chuan said two of its three new projects were close to the new Suvarnabhumi Airport because the company believed that demand for housing in that area would show continued growth, in spite of any decision to move some flights from Suvarnabhumi to Don Muang.

"Some of our customers delayed their decision to buy in the first two weeks of this year when they heard about the government plan to move some flights back to the old airport. Now the government's plan is clear, our customers have decided to buy," he said.

MK Real Estate will also invest Bt500 million to buy new land to develop this year and next year. The company now has a 4,000-rai land bank - enough to develop new projects for the next three to four years.

Somluck Srimalee

 The Nation