Supharat group unveils major expansion plan

"We are now looking for land both in Bangkok and upcountry, including Phuket, Hua Hin and Pattaya, to develop residential projects for sale and other projects that will generate rental income ," managing director Sumeth Sukahanpatharam said yesterday.

Sumeth and his friends set up Supharat in 2004. His father-in-law is Chai Sophonpanich, the owner of Bangkok Insurance.

The group now consists of TM Design, Supharat Development with registered capital of Bt70 million, and Supharat Resort with registered capital of Bt80 million.

Supharat Development is now constructing a residential project worth Bt360 million on Bangkok's Sukhumvit Soi 68 called the Sense. Already 90 per cent of the 146 units have been presold. The project is expected to be completed at the end of the year and units will be transferred to customers by next June.

Supharat Resort is developing a villa estate worth Bt660 million at the Hua Hin beach resort town in Prachuap Khiri Khan's Pran Buri district. The project called Pran-A-Luxe has recorded sales of Bt380 million for 60 per cent of its 43 units. Half of the buyers are foreign investors who want a second home in Thailand.

The company expects revenues of Bt270 million this year, coming entirely from the Pran-A-Luxe project, and Bt750 million next year from both the Sense and Pran-A-Luxe.