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Published on November 2, 2007

"We believe that our team will build presales to achieve the target this year," he said yesterday.

Presales were Bt483 million in the first half and Bt889 million in the first three quarters.

Sahat joined the developer in April and his appointment became effective in May. The former management team resigned last year.

Sahat said he would cover residential development only by focusing on the four existing luxury projects worth Bt12.4 billion - The Golden Regent, The Golden Heritage, Grand Monaco and The Golden Nakara.

Hotels and serviced apartments will be covered by William Wilfong, who is the company's CEO, he said.

Sahat took three months to form his residential team for construction and marketing.

The company had been using the largest construction firm to build its residences but with the new system, it will deal with small and medium builders and control the construction process with its own team.

The second phase of The Golden Heritage on Ratchapreuk Road was launched yesterday with the theme of grand Venetian mansions.

The 89 luxury single-family homes worth Bt1.33 billion on 54 rai of land will be offered for Bt12 million to Bt40 million per unit.

The second phases of the other three projects are expected to open next year.

"We have continued to concentrate on luxury detached homes rather than middle-to-lower-income housing because we believe that demand for luxury detached housing will keep growing even though the economy is sluggish," Sahat said.

Demand for luxury detached housing showed slight growth from last year until the first half of this year because almost all prospective homeowners delayed their decisions to buy.

Some developers of luxury detached homes suspended new projects, so supply now falls short of demand. That presents a golden opportunity for the company because it is the leader in this market, Sahat added.

Of the four current projects, units worth Bt8.4 billion have been sold and the remaining ones worth Bt4 billion will sell from this year to two years from now.

Somluck Srimalee  

 The Nation