Pornsanti to launch 3 low-rise projects by year-end, eyes doubling of annual revenue
July 25, 2014 00:00 By Somluck Srimalee The Nation
Pornsanti, a subsidiary of listed property company LPN Development, plans to launch three low-rise residential projects worth Bt1.7 billion combined over the remainder of the year.
They will boost its total revenue to Bt600 million for the year, double last year’s level, said managing director Charan Kesorn.
Two of them will be townhouse projects, located on Suk Sawas Road and Bang Na Road, while the third will a detached-housing project on Srinakarin Road.
Both townhouse projects will offer prices of between Bt2 million and Bt8 million per unit, while the detached homes will be on sale for between Bt6 million and Bt9 million apiece.
“Our business expansion in low-rise housing follows demand from those customers who need to change their home from a condominium to a townhouse or detached house when the number of family members grows,” he said.
Pornsanti’s policy will be to launch two or three projects of this type a year, he added.
The company has already developed two townhouse projects worth Bt1 billion, on Sukhumvit 62 and Ratchayothin-Sena, with sales of up to 60 per cent having been achieved to date. The remaining inventory of Bt400 million is targeted to be sold out by year-end, with the proceeds forming part of the company’s 2014 revenue, said Charan.
The MD added that demand to buy both townhouses and detached housing remained solid, although overall residential demand was projected to experience only slight growth this year.
“In the first half of the year, the residential market dropped only for condominiums, which did not impact the low-rise segment. This was particularly so for townhouses, where there is strong demand especially for projects located close to the expressway and the central business districts, due to the ease of transportation.
“As a result, we are confident our overall sales with double this year,” he said.