Published on July 27, 2006 - Charn Issara Development will invest Bt1.9 billion in two residential projects over the rest of this year and early next year.

Managing director Songkran Issara said yesterday that a Bt800-million villa project in the resort town of Cha-am in Prachuap Khiri Khan province would be launched in October. Sales are targeted at Bt1.2 billion.

The seaside property will have five or six single-family homes - each with a swimming pool - and a 160-unit condominium.

The next project is the third phase of the Sri Panwa estate in Phuket. It will need Bt1.1 billion, of which Bt500 million is for land and Bt600 million is for construction.

Sri Panwa's phase three consists of pool villas and a hotel, just like the first two phases. Construction will start next year and is expected to take 18 months.

Both developments will focus on the high-end market. The company aims for total sales of Bt1 billion this year, matching its performance last year, when it managed to squeeze out a profit of Bt70 million.

Chalida Ekvitthayavechnukul
The Nation