Harrison to keep Bt14bn sales target

By Somluck Srimalee
The Nation
Published on September 10, 2008

Property agency Harrison has maintained its sales target of Bt14 billion by the end of the year although foreign buyers and investors have delayed their decision to buy or invest in Thailand's property market following political uncertainty in the country.

The company's chief executive Alan Lin said after the government announced a state of emergency last week, many foreign buyers and investors from Singapore, Hong Kong, and the United States delayed their decision to buy residential property in Bangkok, especially condominium projects.

This was because almost all of them were concerned that the country's political problem would have a negative impact on their investments.

However, foreign investors and buyers' demand for residential projects at tourist destinations such as Koh Samui, Pattaya, Hua Hin and Phuket have continued to grow.

As a result, the company believes sales will achieve the target of Bt14 billion by the end of the year, Lin said.

Harrison had sales of Bt7 billion in the first half of this year.

Lin said the company would sign a contract to become a sales agency for 13 new residential proj¬ects in the last quarter of this year.

Four of them, worth up to Bt3 billion, will be located in the cen¬tral business district of Bangkok, two projects worth Bt1.4 billion will be built in Hua Hin, four projects worth Bt2 billion will be situ¬ated in Pattaya, and the remaining three projects worth Bt1.2 billion will be in Phuket.

"We believe Thailand's political problem will be a shortterm situation, while in the long term, the property market will offer more benefits for investors especially the beach resorts. We believe our customers, both local buyers and for¬eign investors, will have opportu¬nities to invest in the property market in the last quarter of this year and that will drive our sales up to meet the target," he said.

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Harrison to keep Bt14bn sales target

Property agency Harrison has maintained its sales target of Bt14 billion by the end of the year although foreign buyers and investors have delayed their decision to buy or invest in Thailand's property market following political uncertainty in the country.

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