• 
• 

Published on March 20, 2008

Property firm Preuksa Real Estate's business strategy has helped the company get on the growth track. The firm is now targeting sales growth of between 20 per cent and 30 per cent a year.

Thongma Vijitpongpun, president and chief executive, said the company's business strategy was derived from its vision: to develop residential projects that match the customer's demand.

The company is expanding its product range to target all segments. This will also help even out the firm's business risk if demand in some segments declines.

"We are now working to develop a luxury residential project where each unit will be priced up to Bt10 million. This will be our attempt to meet all kinds of demand in the market."

At present, Preuksa develops residential projects over nine segments: condominiums for the lower, middle and upper market; townhouses for the three market segments; and detached houses for the three segments. Prices are from Bt600,000 to Bt5 million.

It has taken Preuksa 10 years to build its empire, which it started by developing townhouses priced between Bt600,000 and Bt900,000. The company has developed residential projects that target all segments in Bangkok and suburban areas. Its asset base has gone up from less than Bt1 billion to Bt11.04 billion last year.

However, Thongma said the company had never developed luxury residences priced up to Bt10 million. This is the developer's target for this year.

Preuksa is also planning an overseas foray and is eyeing Vietnam and India.

"We have to expand our business overseas as that will help achieve our goal of being a property expert," Thongma said.

He said his business's strength was construction technology, especially prefabricated systems.

Somluck Srimalee

The nation