Tue, May 24, 2022

property

Noble Development launching 18 projects worth THB47.7 billion this year


Noble Development Plc aims to launch 18 projects worth a total 47.7 billion baht in 2022, chairman of the executive committee and co-chief executive officer Thongchai Busrapan said in an online press conference.

Noble expects revenue to exceed 11 billion baht this year with pre-sales of 28 billion baht, while the company is committed to becoming one of the top five property developers in Thailand in the future, Thongchai said.

Second vice-chairman of the board of directors and co-chief executive officer Frank Fung Kuen Leung said 2022 would be a challenging year but Noble is “best placed among its competitors” in overseas markets.

He said Thailand was the most favoured location for Asian buyers while the depreciation of the baht had created a further incentive for investment.

Leung told the conference that there was a strong indication of pent up demand for overseas buyers waiting for travel to resume and the depressed market had resulted in a need for diversification.

He said Noble’s strength lies in the company’s deep network of more than 550 distributors in nine Asian countries.

According to Leung, the company has struck a balance between premium and mass-market projects, and “horizontal” and “vertical” projects.

He said Noble aims to acquire 550 pre-owned units in the Midlands and Northern England in 2022, with total capital of roughly £100 million (THB4.5 billion).

Member of the executive committee and chief financial officer Arttavit Chalermsaphayakorn said that of the 18 projects that will be launched this year, 10 will be worth 16.9 billion baht while eight will be joint ventures with BTS Group Holdings and Hongkong Land worth 30.8 billion baht.

Twelve would be low-rise projects worth 18.8 billion baht and six high-rise projects worth 28.9 billion baht.

Chief business development officer Sira Udol told the conference that five condominium projects would be launched on Tuesday.

One of them, Nue Connex Condo Don Muang, connects Phahonyothin and Vibhavadi Rangsit roads and is near the SRT Red Line and BTS Green Line.

The project, valued at 2.2 billion baht with 1,178 units, is slated to be completed in the fourth quarter of 2023. Prices start at 1.09 million baht, or 52,700 baht per square metre.
The next three condominium projects are Nue Z-Square Suan Luang Station, Nue District R9 and Nue Mega+ Bang Na.

The 289-unit Nue Z-Square, located near Suan Luang Rama 9 MRT station and Paradise Park, is valued at 700 million baht, Sira said.

The project is expected to be completed in the third quarter of 2023, with prices starting at 1.79 million baht, or 78,000 baht per square metre.

The 1,005-unit Nue District R9 is close to Phra Ram 9 MRT station. The project, valued at 3 billion baht, is expected to be finished in the first quarter of 2025. Prices start at 1.89 million baht, or 95,000 baht per square metre.

Meanwhile, Nue Mega+ Bang Na is valued at 6.2 billion baht and features 1,442 units. The project, slated for completion in the second quarter of 2025, has prices starting at 2.9 million baht, or 134,000 baht per square metre.

Sira also said another condominium project – Nue Evo Ari – is in the pipeline. It will be located in Soi Ari 1 and is near the BTS Ari station.

The 488-unit project, valued at 2.9 billion baht, is expected to be completed in the fourth quarter of 2025, with prices starting at 3.9 million baht, or 130,000 baht per square metre.

The media were also told that Noble was in the process of adding a digital-currency payment method to make purchases easier for both Thai and overseas customers. The process is expected to be completed in the second quarter of 2022.

 

Noble Development launching 18 projects worth THB47.7 billion this year

Noble Development launching 18 projects worth THB47.7 billion this year Noble Development launching 18 projects worth THB47.7 billion this year Noble Development launching 18 projects worth THB47.7 billion this year

Published : January 19, 2022

By : THE NATION