Quality Houses plans 20 projects worth Bt19 bn

Quality Houses has 20 residential projects worth Bt19 billion lined up to achieve presales of Bt20 billion this year.

"We're still expanding this year when we see demand in both Bangkok and the provinces, especially Pattaya, Nakhon Pathom and Chiang Mai," chief executive officer Ratt Phahijphand told a news conference yesterday.

The company has also set aside Bt4 billion to Bt6 billion to buy land to develop residential projects this and next year, he said.

Quality Houses will be responsible for two projects - a premium detached-housing estate in Chiang Mai and luxury condominium complex in Bangkok.

Casa View Co, a subsidiary, will handle four projects - three detached-housing estates and one condominium complex.

Confidence Co, another subsidiary, will develop seven detached-housing and townhouse projects under the Trust brand.

Gusto Co, yet another subsidiary, will be in charge of seven townhouse projects. Six of them will be in Bangkok and the other one upcountry.

QH aims to drive revenue up by 50 per cent to Bt18 billion this year.

"We target aggressive growth as we have many condos and townhouses that will be transferred to our customers this year," Ratt said.

The company believes that residential prices will float up 5-6 per cent this year as construction-material and labour costs keep rising.

Although home prices will go up, the company believes that demand will remain robust this year thanks to the expansion of the economy and boost in purchasing power, he said.

QH increased its revenue last year on strong demand for housing.

"Up to 36 per cent of our revenue growth came from residential projects. And other income such as rentals jumped 44 per cent," he said.

QH netted Bt1.66 billion on revenue of Bt10.10 billion in the first nine months of last year.