Pruksa Real Estate plans launch its latest condo project The Reserve in this month and worth Bt1.8 billion, aims for a 9-per-cent share of the Greater Bangkok condominium market by the end of this year.
Prasert Taedullayasatit, managing director of Pruksa said the company had recorded condo presales worth Bt11 billion in the first eight months. When those are combined with The Reserve, total presales could reach the 2013 target of Bt14 billion.
If so, that would boost its share of the condominium market in metro Bangkok to 9%, up from 4% in last year, making Pruksa a leader in this segment, he said.
Condos will account for about 35% of the company's total presale target of Bt40 billion, with the rest contributed by detached houses and townhouses, he said.
Pruksa also targets revenue from condominiums of Bt8 billion this year after recording Bt3 billion in the first half.
Prasert said that although the Greater Bangkok property market seemed set to grow only slightly in the current second half, some market segments were continuing to do well, especially locations close to the mass-transit system and the central business district.
"Our new project, The Reserve, is on freehold land close to mass transit, Chulalongkorn University, and shopping centres, and it is getting positive feedback before its launch on the market on September 22 and 23. This shows that there is strong demand in the best locations," he said.
The Reserve on Kasemsan 3 offers a starting price of Bt160,000 per square metre or Bt4.5 million per unit. This is Pruksa's sixth and last project launch this year, after five projects worth Bt15 billion launched in the first half.
The Reserve will open to registrations from September 17-21 and will open to bookings on September 22 at Siam Kempinsky Hotel in Pathum Wan. It has only 273 units including studios, one-bedrooms and two-bedrooms.