Goldenland Residence Co, a subsidiary of Golden Land Property Development, has increased by one the number of residential projects it plans to launch this year, to a total of 11 projects worth Bt10 billion, despite the country's political uncertainty.
“We revised our business plan to boost our revenue to the target of Bt1.9 billion from 11 new residential projects,” managing director Sanpin Suki said.
He noted that the political impasse plaguing the country had little impact on the market for low-rise homes, especially detached houses in Bangkok’s outer areas.
As a result, the company’s board decided to expand its investment from the 10 launches planned earlier.
This is also part of its long-term business plan to post revenue of Bt5 billion in 2016 and Bt10 billion in 2018.
Under this year’s business plan, Goldenland is launching three projects worth a total of Bt3.4 billion in the current quarter.
The first project is Golden Avenue Chaengwattana-Tiwanon worth Bt1.3 billion. It combines detached houses, townhouses and duplexes for a total of 418 units. The project has already seen sales worth Bt400 million since its launch last month.
The next is Golden Village Bangna-Kingkaew worth Bt1 billion. The project consists of 186 detached houses with a starting price of Bt3.19 million.
The last one being launched this quarter is a townhouse project, Golden Town Pinklao-Charan, worth Bt1.1 billion. Its 415 units start at Bt1.95 million.
The company targets total presales of Bt2.2 billion and revenue of Bt1.9 billion this year, up 200 per cent from last year’s revenue of Bt600 million.