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MK Real Estate Launches Two New Condo Projects In 2013

MK Real Estate Launches Two New Condo Projects In 2013 MK Real Estate Launches Two New Condo Projects In 2013

MK Real Estate will invest Bt2 billion to buy land and Bt1 billion on the infrastructure for the projects, chief executive officer Chun Tangmatithum said. MK Real Estate targets revenue of Bt3 billion, up 60 per cent from last year, by launching four new residential projects.Two of the projects will be condominiums, August Charoenkrung-Rama III worth Bt1.7 billion and Leon Sukhumvit 62 worth Bt430 million. The other two will be a detached-housing project on Rama VII and a duplex project on Vibhavadi Road.

The company plans to issue a debenture and bills of exchange worth Bt1.5 billion in the second half of this year, Chun said.

He added that the company had confidence in the demand for homes, especially condominiums, and it had decided to increase its condo portfolio. It has a backlog worth Bt1.3 billion that will transfer to customers this year, Bt800 million of which will come from its first condominium project, Den Vibhavadi, which now is complete.

Meanwhile, the company has 15 projects with an inventory for sale worth Bt3.8 billion. This will boost revenue to the targeted Bt3 billion, he said.

"We target condominiums to account for about 50 per cent of our revenue in the next three to five years," he added.

MK Real Estate

MK Real Estate is responsible for managing real estate owned by MK Group and its related companies. This sector is specialised in dealing with all legal affairs in the real estate sector, and for renting, sale and exchange of real estate of MK Group. In addition, this sector is active in developing new investments and projects in the area of real estate management. Its expert team includes experiences lawyers and construction engineers.

MK Real Estate has nearly 100 real estate facilities, located at many attractive locations in Belgrade and across Vojvodina. In addition to office space, its portfolio includes storing facilities, residential units and construction land.

Legal affairs this sector deals with include cadastre registration, mortgages, evaluation, classification, conversion and legalisation of all real estate items owned by MK Group and its related companies. In addition, MK Real Estate provides these services to third parties as well.

An important segment of MK Real Estate’s business activities is renting, sale and exchange of real estate. To this purpose, the sector has designed a comprehensive database with all the necessary information and complementary presentations for nearly 100 real estate items. The sector closely cooperates with the most relevant local and international real estate agencies in the area of renting and sale, and is also focused in its work on third parties – clients.

Furthermore, this sector is responsible for all investments in the area of real estate management, and tasks related to ongoing and investment maintenance.

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