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Published on February 18, 2008

Plus Property plans to pump up its sales by 27 per cent to Bt5.5 billion this year by offering a different property concept.

The sales target was also set to help its parent Sansiri achieve its sales goal of Bt20 billion this year.

"We have conducted research and development of our products before launching them by focusing on customers' lifestyles to find out what they want and what they do," Dusadee Tancharoen, senior marketing director of Plus Property, said last week.

As a result, the developer has come up with a new condominium design focusing on both the niche and mass markets. The strategy will ensure the company captures a wider group of home-buyers, she said.

This year the company plans to invest nearly Bt8 billion in eight projects - three condominiums and five townhouse estates - and spend Bt200 million to promote them.

Although the city already has many condo projects with units priced Bt2 million-Bt5 million, the company is attempting to differentiate its design to meet customer needs. The company is confident that demand for townhouses will intensify this year. Its five new townhouse projects will be located close to main roads and mass transit.

Lifestyles after marriage have changed to focus more on homes with space for various kinds of activities, she said. Consumers have turned to look for townhouses rather than live in a condo.

The company expects townhouses will contribute 60 per cent of its sales this year. The remainder will come from condos.

Last year, the company's condo sales accounted for 60 per cent of its total sales of Bt4.3 billion, with townhouses making up the rest.

The expected reversal in the sales ratio is because the company sees demand for townhouses picking up faster than for city condos.

"The city condo boom lasted from 2006 into 2007. We believe that demand for city condos this year will be lower than the last two years. Meanwhile, demand for townhouses, offered at prices between Bt2.5 million and Bt3.5 million, will return this year," she said.

Somluck Srimalee

The Nation