Property firm MK Real Estate Development has set aside Bt800 million to buy land for developing residential projects over the next two years, CEO and managing director Chuan Tangmatitham told a press conference yesterday.
The company plans to launch five new residential projects worth a combined Bt3 billion this year, driving revenue growth to 20 per cent. One of the five residential projects will be an eight-storey condominium, for which tax privileges will be sought from the Board of Investment.
Chuan said the company saw strong demand in the property market and would pursue an aggressive investment strategy this year. It has delayed investments since 2008 and launched only two residential projects last year.
SALES BACKLOG
The company expects presales of Bt3 billion this year, as well as revenue of Bt3 billion.
Of the revenue target, Bt1.2 billion will come from its backlog of sales made last year to be transferred to the buyers this year. The rest will come from sales of existing projects and new projects to be launched this year.
Chuan said the first project, worth Bt360 million, would be launched in the first quarter and the other four in the second half of the year. If the property market performs above expectations and the country's political situation remains stable, MK may launch more than five projects this year.
MK announced achieved revenue of Bt1.86 billion for a net profit of Bt412 million in the first nine months of last year.
It expects full-year figures to show 15-per-cent revenue growth from 2008, when it had revenue of Bt2.18 billion for net profit of Bt404 million, Chuan said.
