Sarin aims to hit Bt1-bn revenue with 2 projects

Sarin Property Co plans to launch two new residential projects on Rama II worth Bt700 million to boost its presales and achieve total revenue of Bt1 billion this year.

The company's vice president, Attapol Vongkusolkij, said that the two new residential projects will be single detached houses and townhouses at a starting price of Bt2.7 million per unit. The two projects will be located at the Sarin City project on Rama II.

Sarin City Project has total 6,000 rai of land - 2,000 rai have been sold to Best Ocean Golf Co; 2,000 rai to Sinsakorn Industrial Estate, while the balance 2,000 rai will be developed as residential projects by Sarin Property Co.

Currently, the company has developed residential projects on about 1,600 rai and has another 400 rai for residences.

The first residential project this year will be single detached houses, twin houses, and a commercial building at a starting price of Bt2.7 million per unit, developed over 40 rai. The project, worth Bt350 million, will open for presales in March this year.

The next project of single detached houses and twinhouses, worth nearly Bt350 million, will be developed on 30-40 rai. This project will open for presales in the last quarter of the year.

"Our business strategy is to develop two or three projects a year, depending on the demand," he said.

The company also will use the prefabrication system to build its residential projects as the property market is facing labour shortage.

Attapol said the prefabrication system would reduce the labour problem and speed up its construction process to deliver the residences to its customers on time.

Currently, the company holds a major stake in a prefabrication plant with a production capacity to build 500 to 600 residential units a year.

The company is now developing a project called The Lake View, located in Sarin City on 90 rai. The project is being developed as single detached houses under colonial concept design with a starting price of Bt4.7 million per unit. The project has succeeded in selling Bt300 million of the total Bt1.5 billion project value. This is one of the projects aimed at generating total revenue of Bt1 billion at the end of this year, up 25 per cent from last year, Attapol said.