Sammakorn this year plans to launch two residential projects worth Bt2.1 billion combined that will drive sales growth by 13 per cent, managing director Kittipol Pramoj na Ayudhya said at a press conference yesterday.
The company has also set aside Bt250 million to Bt300 million to buy land for residential-project development next year.
He said 2010 marked a year of celebration, as the company has now been in business 40 years. It has maintained its vision of being not just a home-builder, but also a builder of communities.
Sammakorn is also rebranding by using the Divina brand for its two residential projects this year. The first project will be called Aqua Divina and the second, Flora Divina.
Aqua Divina, to be located in the Ramkhamhaeng area, will offer homes for Bt6 million to Bt17 million. Flora Divina, to be located in Bang Kapi, will build detached houses priced at about Bt3 million.
The company has a Bt350-million backlog of projects sold and waiting to be transferred to customers, plus an inventory of residences and undeveloped land worth Bt4 billion. It recorded presales of Bt800 million last year, 35 per cent higher than in 2008.
Kittipol said presales were high because demand for residential projects had recovered in the second half of the year due to the government's tax incentives for home-buyers, relative political stability and still-low interest rates.
The company believes the property market this year will be better than last year's, although the costs of construction raw materials have risen by 5 to 7 per cent, especially for steel and cement.
However, Sammakorn remains concerned about the effect of the scheduled expiration of tax incentives for the sector on March 28.
Kittipol, who is also president of the Thai Real Estate Association, said the body had joined with the Business Housing Association and the Thai Condominium Association in writing to the finance minister, seeking an extension to the tax measures.
The company also plans to open the Pure Place shopping mall on Ramkhamhaeng Road at the end of the year.
Pure Place is being developed by Pure Sammakorn, which is a joint venture between Rayong Purifier and Sammakorn.
Pure Sammakorn also plans to invest Bt100 million to develop Pure Place at Ratchaphreuk next year, said Kittipol.
