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Thailand Property Developer Supalai Budgets Bt15 bn for New Projects Featured

Thailand And Overseas have Supalai Budgets Bt15 bn For Projects Thailand And Overseas have Supalai Budgets Bt15 bn For Projects

Thailand property developer Supalai has set aside a 2013 investment budget of Bt15 billion to develop residential projects both in Thailand and overseas.

Company president Pratheep Tangmatithum said Bt5 billion would be used to buy land on which to develop projects in 2014, while Bt2 billion would be spent to develop projects in Asean member countries, and Bt8 billion for the construction of projects that are to be delivered to customers in 2013.

 The company plans to launch 25 projects worth Bt25 billion in 2013, of which 16 are for low-rise homes, both detached houses and townhouses, and the rest condominiums.

"Most of our investment budget comes from our cash flow. However, we will issue debentures worth between Bt1 billion and Bt2 billion in 2013," he said.

Supalai will also invest in countries such as Myanmar, Indonesia and the Philippines, as it foresees market growth upon the implementation of the Asean Economic Community in 2015.

"We see business potential to expand in the AEC once the rules for investment in the region are relaxed," he said.

The company targets presales of Bt26 billion in 2013, up 22% from Bt21.3 billion in 2012. Revenue is targeted at Bt13.5 billion, up 16% from the Bt11.6 billion in 2012.

Up to 28.5% of revenue will come from the provinces, compared with 25% in 2012, managing director Atip Bichanond said.

Currently, 74% of Supalai's presales are for condominiums.

The company also has a backlog worth Bt31.25 billion of homes already sold for delivery to customers between now and 2015.

Last modified onMonday, 18 March 2013 17:41

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