The projects will boost its sales revenue to Bt2.08 billion this year, up 30 per cent from Bt1.6 billion last year.

Managing director Dr Suriya Poolvoralaks said yesterday that although the property market had seen slight growth this year, the demand for luxury condominiums in Bangkok's central business district and tourist areas had continued to grow.

As a result, the company has continued to expand its investments by launching the three condominium projects in the second half of this year.

Two will be in the business district while the other in Pattaya will target foreign investors who want to buy a second home in Thailand.

The company has also set aside a Bt1-billion budget to buy new land for development next year in Bangkok, Pattaya, Hua Hin and Cha-am.

Half of the investment budget will come from the company's cash flow and the rest will be loans from commercial banks.

The company will also apply to be listed on the Stock Exchange of Thailand (SET) in the fourth quarter of this year after delaying the plan from last year.

It plans to raise Bt1 billion in funds from the SET to be spent on investment plans next year.

Suriya said the company expected its sale growth to be 30 per cent this year.

"Now we have presales worth Bt5 billion. Bt2 billion will count towards our revenue this year and the rest for next year. As a result, we believe we will meet our sales target this year," he said.

Major Development has developed seven condominium projects in Bangkok and Hua Hin worth Bt13 billion.

The latest, worth Bt2 billion, is The Aguston at Sukhumvit 22, which will focus on the middle-to-upper-income market with prices starting at Bt100,000 per square metre.