Grand Unity Development plans 3 condominium projects

Real Estate March 19, 2014 00:00

By The Nation

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Grand Unity Development Co, a subsidiary of Univentures, plans to launch three new condominium projects worth Bt8.2 billion this year, managing director Neramit Srangaem said.

The new projects should boost presales by 77 per cent to Bt6.4 billion from last year’s Bt3.6 billion, which was lower than the 2013 target of Bt5.1 billion because two condominium projects had to be cancelled after failing to win approval from the Environmental Impact Assessment committee. Grand Unity also plans to launch five new condominium projects worth between Bt6 billion and Bt7 billion in 2015. The company has set aside an investment budget of Bt1.2 billion to buy land for development next year, he said.
Neramit accepted that in the first two months of this year presales were about 15 per cent lower than in the same period of 2013, while the number of visitors to its residential projects dropped by up to 50 per cent. Potential home-buyers have been concerned about the political turmoil and delayed their decisions to buy since December. 
However, the company believes that its three new condominium projects this year will help it achieve its presale target because they are located close to Bangkok’s mass-transit system. 
For example, U Delight Residence Riverfront Rama 3 has already sold 40 per cent of the total project value of Bt3.8 billion. U Delight @ Talat Phlu Station worth Bt2.8 billion is close to a Skytrain station, and U Delight @ Bang Son Station worth Bt1.6 billion will be near the extended MRT.