Supalai plans 16 launches in H2

Real Estate August 01, 2014 00:00

By Somluck Srimalee
The Nation

Supalai plans to launch 16 new residential projects worth Bt21 billion in the current second half of the year, targeting 2014 presales of Bt22 billion, managing director Tritecha Tangmatitham said. Full-year revenue is targeted at Bt20 billion, up 57 per

Of the 27 residential projects worth Bt30 billion for this year, 11 were launched in the first half. Two of them were condominiums, and the other nine detached-housing and townhouse projects, he said. Meanwhile, Supalai has suspended an investment in Australia it had planned last year, because the company cannot close the deal to buy land. As a result, it has only one asset overseas, an office project in the Philippines, he said.
“We continue to plan investments overseas but we have to wait for the best deals for our business, on an investment budget of no more than Bt1 billion per country,” he said. The company also is considering a debenture issue worth between Bt1 billion and Bt2 billion in the final quarter of this year to raise funds to buy land for next year’s developments. 
“Demand to buy homes has returned since June after many people delayed their decisions during the political crisis of the first five months,” he said.
In June alone, Supalai recorded total sales worth Bt1.4 billion, compared with about Bt900 million to Bt1 billion in each of the first five months. This has translated to year-to-date presales worth Bt10.5 billion as of the third week of July. As a result, the company is confident of achieving its full-year presales target of Bt22 billion, Tritecha said.