Property Perfect Plc and Grande Asset Hotels & Property Plc plan to launch 20 new residential projects worth a combined Bt38.3 billion.
They hope to boost their total combined revenue Bt27.55 billion by year-end, reported the management of both companies in announcing their business plan on Thursday.
Seventeen of the 20 projects, worth Bt20 billion, will launch this year under Property Perfect Plc, with single detached house and townhouses accounting for 16 of them, worth Bt18 billion. The last project is a Bt2-billion condominium project.
The remaining three projects, to be developed by Grande Asset Hotels & Property Plc, are worth a combined Bt18.3 billion. One will be located in Rayong, province and two projects in Bangkok, said Property Perfect Plc’s chief executive officer Chainid Adhyanaskul.
The business plan projects total revenues for Property Perfect Plc at Bt20 billion, with Grande Asset Hotels and Property Plc hitting Bt5.6 billion with Bt4.5 billion coming from the hotel business, and the remaining Bt1.1 billion from residential project sales.
The group also expects revenue from the sale of its undeveloped land worth Bt1.74 billion, along with rental business at about Bt215 million. They will drive the group to achieve Bt27.55 billion in total revenue by year-end.
The group had a total backlog worth Bt6.81 at the end of last year, of sales-ready units waiting for transfers to customers. Most will be transferred to its customers in this year, Chainid said.