LISTED PROPERTY firms LPN Development Plc and Property Perfect Plc plan to launch a total of 39 residential projects, worth a combined Bt53.8 billion this year.
LPN Development Plc will launch 14 projects worth Bt18 billion while Property Perfect is set for the introductions of 25 residential project, worth a total of Bt35.8 billion.
LPN Development Plc’s chief executive officer and managing director Opas Sripayak said the company targeted presale to reach Bt20 billion this year.
The company also expects a total revenue of Bt12 billion this year or up 25 per cent from its total revenue of Bt9.6 billion last year, he added.
Opas says year 2018 is the year of change, following a year of shifts last year, and the company will focus on two businesses: condominiums , single detached and townhouse projects, as well as service provision.
The company will also restructure its management team with outside recruitments to boost its business operations. It will also invest in information technology and rebranding its products.
“We expect strong growth of 40 per cent in revenue from our residential projects from 2018 to 2020, and a 20 per cent expansion in revenue from the service businesses for the same period,” he said
Meanwhile, the company expects presale to achieve Bt20 billion this year , comprising Bt17 billion from condominiums, and Bt3 billion from single detached house and townhouse projects. These will be booked to the company’s total revenue of Bt12 billion - Bt10.5 billion from condominium projects and Bt1.5 billion from single detached house and townhouse projects, he said.
Currently, the company has a backlog of sold properties worth Bt7.4 billion, waiting for transfer to buyers, of which Bt5.9 billion will be booked to its total revenue this year, Opas added.
Peoperty Perfect Plc’s chief executive officer Chainid Adhyanasakul said the company expects a presale total of Bt22.4 billion this year and revenue of Bt24.03 billion. It hopes to achieve Bt30 billion in revenue in the year 2020.