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Published on January 31, 2008

Targeting well-heeled customers, the company should not have difficulty in finding buyers for its condominiums, he said, adding that economic problems would not delay their decisions to buy.

He said high-end condominiums were not lacking in demand on the market. According to a recent survey, demand for luxury condominiums priced over Bt5 million a unit is higher than medium-class condos. Furthermore, most Major Development condos are near Skytrain and subway stations, which are high-potential locations.

"We believe the high-end condominium market has an opportunity to grow and will be in demand for at least one to three years. However, we have no worries if customer demand changes because all projects are flexible enough to adapt to become other types such as serviced apartments or hotels," said Suriyon.

The company plans to continue to develop high-end condominiums aimed at foreigners who live in Thailand, adding that property prices in Thailand are lower than abroad, a factor to attract foreigners to buy condominiums in Thailand.

The company has eight ongoing projects worth Bt13.8 billion.

Main income comes from Watermark Tower priced at Bt3.9 billion, Manhattan Chidlom at Bt12.5 billion and the Fullerton Sukhumvit at Bt18 billion.

Suriyon said the company expected to recognise revenue from eight projects this year.

He added the company was also concerned about climate change, so all its projects have been already been approved by an environmental-impact assessment.

The Nation