Supalai budgets Bt8 bn for land purchase

Real Estate January 12, 2017 01:00


2,507 Viewed

LISTED PROPERTY firm Supalai has budgeted Bt8 billion to buy land this year as it plans to develop 29 residential projects worth Bt37 billion.

The company forecasts presales of Bt27 billion, up from Bt24.5 billion last year, and revenue of Bt24.5 billion, managing director Tritecha Tangmatitham told a news conference yesterday.

He said 24 of the new projects would consist of detached houses and townhouses, and the other five would be condominiums. One luxury condominium project, Supalai Oriental Sukhumvit 39, worth Bt10 billion, will open to booking from January 18-23.

Some of the new projects will be in Bangkok, and others in provinces such as Chiang Mai, Surat Thani, Songkhla, Phuket, Nakhon Ratchasima, Udon Thani, Chon Buri, Rayong, Khon Kaen and Ubon Ratchathani.

Tritecha said Supalai was confident that the property market would recover this year as a number of potential buyers delayed their decisions from the final quarter of 2016.

“However, we accept that the market will also face high competition this year as most of the property firms that delayed launching new residential projects in the last quarter of last year plan to launch more new projects this year,” he said.

That said, the company is confident of achieving its sale and revenue targets. Most of its new projects in Greater Bangkok are located to close to the mass-transit system, he said.

Supalai chief executive officer Prateep Tangmatitham also forecast that the government’s planned infrastructure projects would boost the economy this year, which improve demand for homes from last year.