Property developer Areeya targets 30% growth in 2018

Real Estate March 15, 2018 15:40

By The Nation

Real estate developer Areeya Property Plc is aiming for 30-per-cent growth this year with revenue from both horizontal and vertical projects under its "aesthetic living" concept, the company said.



Viwat Lauhapoonrungsi, senior chairman of the board, said, “We do not only provide housing, but we also design the society, life and living conditions.”

Areeya is targeting total sales worth Bt14.37 billion, comprising horizontal projects worth Bt8.36 billion and vertical projects worth Bt6 billion. 

The plan is to launch 11 new projects – 10 horizontal and 1 vertical – worth Bt7.92 billion and reduce cancellation rate by 5 per cent. 

Areeya reported sales of Bt11.12 billion in 2017, up 39 per cent year on year with a cancellation rate of 29 per cent. Seven new projects worth Bt11 billion were launched in 2017.