Thailand Property developer Sansiri targets low price housing segment

Thai listed developer Sansiri has revised its 2010 sales target up to THB25 billion (US$822 million) and increased its land purchase budget from THB7 billion (US$230.2 million) to THB10 billion (US$328.8 million) as it plans to jump into the low-priced housing market during the last quarter of the year.
Apichart Chutrakul, Sansiri’s CEO (right) and Samatcha Promsiri, Vice President for Corporate Marketing at the recent press conference. Thai listed developer Sansiri has revised its 2010 sales target up to THB25 billion (US$822 million) and increased its land purchase budget from THB7 billion (US$230.2 million) to THB10 billion (US$328.8 million) as it plans to jump into the low-priced housing market during the last quarter of the year. The company earlier set its sales target for this year at THB22 billion (US$723.4 million).

Sansiri’s chief executive officer Apichart Chutrakul revealed that the company generated over THB6.8 billion (US$223.5 million) in sales in the third quarter alone and expected to generate up to THB9 billion (US$295.9 million) in the fourth quarter.

“We managed to reach THB16 billion (US$526 million) in sales during the past nine months. I can say that in the third quarter we recorded the highest sales we’ve ever made in one quarter.”

According to Apichart, the company’s sales growth came from the expansion of its target markets to mid- and lower-end segments with unit prices between THB1 million (US$32,879) and THB3 million (US$98,636).

“We will spend THB3 billion (US$98.7 million) more to buy new land plots in the fourth quarter to develop more new projects this year and, of course, we will still continue focusing on the low-priced housing segment”.

The new condo projects in the lower-priced range to be launch in October include The Base Sukhumvit 77 with 1,227 units worth THB2.5 billion (US$82.2 million); the ‘dcondo’ brand in Ram Intra and Ramkhamhaeng with 825 and 1,114 units worth THB1.7 billion (US$55.8 million) and THB1 billion (US$32.9 million) respectively; and Onyx Phaholyothin with 208 units worth THB1.9 billion (US$62.5 million).
The company earlier set its sales target for this year at THB22 billion (US$723.4 million).
The new condo projects in the lower-priced range to be launch in October include The Base Sukhumvit 77 with 1,227 units worth THB2.5 billion (US$82.2 million); the ‘dcondo’ brand in Ram Intra and Ramkhamhaeng with 825 and 1,114 units worth THB1.7 billion (US$55.8 million) and THB1 billion (US$32.9 million) respectively; and Onyx Phaholyothin with 208 units worth THB1.9 billion (US$62.5 million).
The private sector’s interests in ensuring the safety of visitors to Thailand are fully aligned with the efforts of foreign embassies to protect the safety of their citizens. Private operators in the travel industry, including airlines, hotels and tour agents, are equally if not more directly responsible for the safety of their customers as we have our reputations at stake and financial liabilities to face.
Although the current outlook for Thailand property has taken a knock and the current political situation needs to be followed closely by potential Thailand property investors, the country’s property market should not be overlooked.
The completion of the Suvarnabhumi-Bangkok International Airport has spurred growth in commercial property markets in eastern Bangkok as well as in the beach resort of Pattaya. Thailand has become even more accessible by air with a wide range if International carriers using Bangkok as a hub. In recent years, there has also been a surge in budge carriers, offering very competitive prices to both local and international destinations.
http://thailand-business-news.com/real-estate/26272-thailand-property-developer-sansiri-targets-low-price-housing-segment/

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